Zilliqa will transform into an Ethereum Layer 2, and the ZIL token will continue to be retained

Zilliqa stated that operating independently as Layer 1 for the past nine years has not achieved the expected success, with insufficient usage, funding, and liquidity, and recent security incidents have highlighted the high maintenance costs of an independent chain.

The team has decided to adjust its direction, and Zilliqa will transform into Zilliqa Institutional Layer (ZIL), becoming a regulated Ethereum Layer 2. The ZIL token will continue to be retained, and holders do not need to take any action at this time. Technical details will be announced in advance, and any exchanges or migrations will be based solely on official announcements from the website.