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Summit AscendEX debutes Zebec: Solana Eco-programmable Settlement protocol

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In February, Zebec announced the closing of a $15 million funding round for the continued expansion of its Zebec DeFi payment solution.

Original source: Summit AscendEX

On March 16, Summit AscendEX co-launched Zebec (ZBC) and opened the ZBC/USDT market. As the programmable settlement protocol for Solana's blockchain network, Zebec's Real-time streaming payments promises to provide businesses, employees and consumers with a disruptive payment, investment experience, and innovative products and services.

The "dream" of the instant transfer of labor value

At present, the global labor remuneration payment and settlement mainly include hourly salary, daily salary, monthly salary and annual salary, among which monthly payment is the mainstream. The main reason is that the financial settlement of the enterprise is periodic, and the enterprise needs a relatively controllable scheme according to the actual situation of the specific business, cost, management mode and so on.

From the perspective of labor demand, the shorter the time difference between labor time paid and corresponding value return, the better. Even when conditions permit, a steady stream of payments as work is completed seems the ideal way to get a return on your Labour.

However, in the process of centralization, this vision will undoubtedly face a severe test, whether it is feasible or operable, almost challenging the impossible. However, with the gradual development of the digital economy, especially the rise of decentralized finance (DeFi), supported by smart contracts, continuous labor value realization and payment will no longer be just a dream.

It can be imagined that when the process of capital entry flows smoothly and there is no subjective time difference, the efficiency of value delivery is unprecedentedly improved. In the new economic society where payment is ubiquitous, people's life and production mode may enter a new era with this opportunity.

"Pioneer" of Solana Ecological Instant Stream Payment

In the traditional financial settlement system, the transfer of funds is not only levied by intermediary agencies, but also has a certain processing time. In response, the Zebec protocol dedicated to real-time streaming payments will provide a unique second-level transmission and support continuous and fast streaming of funds. And users can also set their own time and amount of continuous payments.

As a programmable continuous settlement protocol, Zebec is also committed to creating a value composite transport solution and implementing it from Zebec Pay's product perspective. At the same time, Zebec Safe has customized multiple signatures to further promote this revolutionary DeFi application. And thus escort real-time, barrier-free, continuous payment flow.

Because the payment flow protocol is completely on-chain, Zebec will have no risk of middlemen, delays, high fees, failure to pay, etc. Users can connect to Zebec using a blockchain wallet and enter the recipient's wallet address to start the flow of funds.

Based on the superior performance of Solana blockchain, Zebec is expected to become a competitive payment service provider in application scenarios such as DAO, Web3.0 and Metauniverse while continuously implementing the maximization of scalability, transaction speed and lowest transaction cost.

As a feature of the protocol, Zebec stands for modular currency, layering, and scalability through governance. As a feature of financial innovation, programmable flow of funds can establish a continuous connection with the user's wallet and carry out automated payments, and can be opened for investment and trading applications.

Based on groundbreaking programming capabilities, Zebec can greatly expand Solana's ecosystem without sacrificing any decentralization or security. In the development stage of the industry where new concepts such as Web3.0, meta-universe and NFT are constantly applied, Zebec is expected to make practical contributions to Solana's ecological evolution.

Currently, more than 246 projects based on Zebec SDK have been built with the support of Solana Foundation. As the first Solana eco-project approved by Visa in digital payments, Zebec also successfully joined the Visa Fintech Fast Track program, gaining access to Visa experts, technology and other resources.

Productized "Realization" of Value Transfer

As Zebec's first product for combined value transfer, Zebec Pay offers a low-fee payment solution that enables fast payroll delivery using cryptocurrencies such as Staboin and aims to eliminate the gig economy (Gig (Economy) the existence of various payment disputes.

Zebec Pay not only supports real-time, fast, automatic and adjustable cryptocurrency conversion between two or more parties, but also provides users with zero-cost crypto payment services. In addition, users can also access Zebec Pay's native financial services, including crypto investment and participation in DeFi mining for income.

In addition, employees using Zebec Pay can easily allocate a portion of their salary to compliant encrypted IRAs and 401K accounts. At the same time, users can convert cryptocurrency into US dollars and transfer it to their personal bank accounts without paying any fees.

Zebec Pay has the potential to redefine the entire compensation system and even drive energy efficiency and innovation in production, business and more. No need to wait days or weeks to get paid safely and instantly, with no middlemen. And both employers and employees will get a new value mobility experience.

The "future" of on-chain payments

Zebec founder Sam Thapaliya is a graduate of Manlon College, an expert in AI and video analytics platforms who won the Entrepreneurship and Innovation Award in 2020. In his opinion, In order to realize the vision of DeFi and Web3.0, Zebec came into being to provide fast, non-delayed, smooth and continuous capital flow and settlement, build DeFi programmable expansion of the native solution, and will become the main mode of on-chain payment in the future, as well as the substantial change of the digital economy of Web3.0.

Ajay Gautam, co-founder and CTO of Zebec, is a veteran tech geek in cyber security and developed ReconwithMe, a security application tool, in 2019. After entering the blockchain field, he believes that the construction of security is particularly important for decentralized finance in addition to the model and benefits. Combined with Zebec's financial settlement business, Gautam wants to integrate more payment security solutions into the mix.

As Zebec's project token, ZBC has the protocol governance function and the total supply is 10 billion. At the same time, ZBC has some important utility features for its owners and Zebec users. After ZBC goes live, Zebec will allow ZBC holders to obtain income through pledge and other means.

In terms of investment and financing, Zebec announced its launch on Solana blockchain last November and raised $5.5 million in funding. Led by Republic Capital, Shima Capital, Breyer Capital, Launchpad Capital, Meltem Demirors, Resolute Ventures, Infinity Ventures Crypto, and Joe McCann contributed.

In February, Zebec announced the closing of a $15 million funding round for the continued expansion of its Zebec DeFi payment solution. The round was led by Solana Ventures and Distributed Global, Investors include Lightspeed Venture Partners, Circle, Coinbase, Alameda Research, OKX Blockdream Ventures, DST Global Partners, And Road Ventures, Global Founders Capital, BECO Capital, Greenoaks and GoldenTree Asset Management.

Summit AscendEX: Embrace the value of DeFi innovation

With a professional perspective from the traditional financial industry, AscendEX began to make a layout in DeFi as early as 2019, supporting DeFi projects from multiple perspectives through ipo, token pledge, liquidity mining and other measures.

Starting in August 2020, Summit AscendEX has presented a number of Solana eco-projects with high application potential, high growth performance, and outstanding market performance. These include SRM (+4682.35%), OXY (+4060%), FIDA (+1900%), AKT (1669.23%) and MAPS (+720%).

Behind the ongoing buzz is Pinnacle AscendEX's quality-only selection mechanism. At the same time, the go-to-partner approach enables Peak AscendEX to play a role not just as a crypto value stream provider, but as an innovator who values DeFi and strives to support and facilitate the innovation and development of this new financial ecosystem.