Zilliqa to Become an Ethereum Layer 2, With ZIL Token Retained

According to ChainCatcher, Zilliqa said it will transition to Zilliqa Institutional Layer (ZIL), an Ethereum Layer 2 aimed at regulated institutions. The team said nine years of operating independently as a Layer 1 failed to deliver the expected results, with insufficient usage, funding and liquidity; recent security incidents also highlighted the high cost of maintaining an independent chain. The ZIL token will remain, and holders do not need to take any action for now. Technical details will be announced in advance, and any token swap or migration will be conducted only as specified in official website announcements.