Introducing PZL, a wrapped and staked version of the PUZZLE token, with the goal of achieving cross-chain adoption for the leading DeFi protocol on Waves.
Puzzle Network is a central DeFi protocol on Waves, consisting of an aggregator, a lending protocol, and innovative megapools with concentrated liquidity. PUZZLE is the highest-performing token in the ecosystem, with growth from $4 to $16 this year. Notably, PUZZLE has no additional emissions FDV = market cap.
We believe this supreme DeFi token could be offered to DeFi enthusiasts outside the Waves chain. Therefore, we are launching PZL - wrapped staked PUZZLE available cross-chain.
Staked PUZZLE (PZL) is a token pegged to PUZZLE that grows steadily along with its staking yield. Any user can mint it with regular PUZZLE and redeem it for PUZZLE without limitations. Used PUZZLE is being automatically staked, its yield is reinvested, increasing the price of PZL.
Example: The current price of PZL is 1 PUZZLE; the PUZZLE staking APY is 10%; then, in one year, the projected price of PZL will be 1.1 PUZZLE.
The token design is similar to other liquid staking derivatives (LSD), like Lido's stETH.
BURN and Referral Mechanics
In addition to its main staking mechanics, PZL has two more objectives: (1) an additional source of PUZZLE deflation and (2) incentivizing the active community. This is achieved through the only fee PZL charges: the minting fee.
The PZL minting operation has a 0.1% fee, which is split into two equal parts:
0.05% of the PUZZLE spent on minting is burned instantly to increase PUZZLE scarcity.
0.05% is paid to an ambassador, chosen by a specific user in the user interface.
All operations are performed exclusively through the PZL smart contract. You can track burns directly in the explorer 🔥
Would you like to become an ambassador and receive your referral bonus? Contact @martino_mansory on Telegram. You'll need an active audience of over 1000 followers or a clear vision of how to promote PZL.
STAKED PUZZLE IS NOW AVAILABLE ON ETHEREUM 🤩
The launch of PZL is supported by WavesBridge, who minted the Staked PUZZLE (PZL) token on Ethereum and hosted the Waves ↔️ Ethereum bridge for its operation. Please note that WavesBridge charges an independent bridge fee and, as its issuer, has full control over the ERC-20 version of PZL.
The integration of PZL with Ethereum represents a major step toward cross-chain interoperability adoption. Staked PUZZLE can be further integrated through Ethereum's native bridges, even bridged to such uncommon chains as TON or Algorand.
$40,000 LIQUIDITY DEPLOYED
The Puzzle team is very excited about Puzzle's adoption on other chains and is pleased to support its launch with initial liquidity. A total of 1200 PZL and 20,000 ROME have been deployed in three different Uniswap pools. The main position can be viewed at the following link: app.uniswap.org/positions/v4/ethereum/99000.
Interestingly, this pool became Uniswap's number 99,000. What a number! What was the chance?
The best way to trade PZL is through CowSwap, the most profound and cost-effective DeFi aggregator on Ethereum. Visit swap.cow.fi and search for PZL by entering its ID: 0x37f3eD0186AaDF2966BD75cf702aD0f31AB13318.
We know that you love arbitrage. You can already take advantage of it by finding price differences between PZL on CowSwap and PUZZLE on PuzzleSwap
We invite all OGs and new non-Waves enthusiasts to use Staked PUZZLE (PZL) on multiple chains and gain exposure to Puzzle's staking yield, as well as the protocol's growth!
LINKS
Mint PZL: https://puzzleswap.org/pzl
PZL Bridge: https://wavesbridge.io/bridge?from=WAVE&to=ETH&asset=PZL.
Ethereum Mainnet ID: 0x37f3eD0186AaDF2966BD75cf702aD0f31AB13318
Waves ID: DgER5m4fWpSFXhXDBxBye1B4HHCwdRttsbU5LBz6XEYs
Any questions?: https://t.me/puzzle_network
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