Zilliqa

We know it's not great. For nine years we built and ran our own Layer 1. It hasn't worked. We're not giving up. Here's the first of many next steps in a new direction: Zilliqa is becoming the Zilliqa Institutional Layer (ZIL): an Ethereum Layer 2 for regulated institutions. Usage never reached what a standalone chain needs. Funding and liquidity for standalone L1s dried up. The recent hacks showed how much it takes to secure a chain alone. The data is onchain for everyone to see. We keep what was great: our partnerships, our community and one token, ZIL. We cut what isn't working. We stop fighting alone. We start with a new identity, a new goal and a new path. What we are building: - Settlement secured by Ethereum. - Identity and compliance built into the network, through vLEIs. - A permissioned market where verified institutions trade with each other. Institutions first, later individuals and agents. Our partners are even more committed to this future. @ltin_li, the state-backed trust network in Liechtenstein, will operate the sequencer and is becoming a qualified vLEI issuer. ZIL holders: this move needs no action from you today. We will publish the technical details before anything changes. Any claim, swap or migration is announced on zilliqa.com first. If it's not there, it's not real. Zilliqa isn't going away. We fight another day.

Around 2 million legal entities hold an active LEI today. Most people have never heard of it. An LEI is a passport number for a company: 20 characters, one for each legal entity. It came after the 2008 crisis. Regulators require it, so banks, funds and asset managers need one to trade. The vLEI is its digital version. Software checks it in under a second. It proves which company is acting, and who is authorised to act for it. On the Zilliqa Layer 2, only wallets whitelisted through a verified vLEI can transact.

Agentic finance is coming fast. Soon AI agents will trade, settle and pay on behalf of institutions. Every one of them will need a verified identity behind it. That’s what we’re building. The next wave of on-chain volume won’t come from humans clicking buttons. It will come from agents acting for regulated institutions. The vLEI is how they’ll prove who they are. In the agentic finance era, trust won’t sit in a wallet address. It will sit in a verified legal identity. We’re building that layer on Ethereum, for the institutions and agents of tomorrow.

Great partnerships build lasting infrastructure. Regulated finance needs partners it can trust, and verified identity built in from day one. Together with @ltin_li, we’re building the Zilliqa Institutional Layer for the long term: infrastructure that institutions can rely on for years to come.

To our community: Zilliqa has engaged a leading firm from the crypto space, specialised in cybersecurity and AI-driven attacks, to assist us in investigating the situation. We are taking this extremely seriously.

Following the security incident involving the Zilliqa Ledger app, we worked with major exchanges to coordinate the migration of ZIL to Zilliqa EVM. This included South Korea’s five major exchanges: Upbit, Bithumb, Coinone, Gopax and Korbit. Throughout this process, we responded to the questionnaire and subsequent follow-up questions from the Digital Asset eXchange Alliance (DAXA), the self-regulatory organisation representing these exchanges. After several months of coordination, we are disappointed by Upbit and Bithumb’s decisions to delist ZIL. However, we appreciate that both exchanges are supporting ZIL withdrawals on Zilliqa EVM, allowing holders to move their funds without completing the migration manually. For holders on Upbit and Bithumb, there are two withdrawal options: - Withdraw to a self-custody wallet, such as @MetaMask or @Rabby_io. Add the Zilliqa EVM network using the official network details (dev.zilliqa.com/zilliqa2/end…), then use your wallet’s Zilliqa EVM receiving address. - Withdraw to another exchange that supports Zilliqa EVM, such as Binance or KuCoin. Check that ZIL deposits are enabled and select the correct network before transferring. Please check each exchange’s official notices for withdrawal deadlines and instructions. Before transferring, confirm that your destination supports Zilliqa EVM and, if sending to another exchange, that ZIL deposits are enabled. If you experience any withdrawal issues, contact the support team of the exchange you are withdrawing from. Send a small test transfer first and confirm it has arrived before moving the rest of your ZIL balance.

Thank you @hackenclub for the thorough review of our ZK migration tool, from ownership proofs to payout. Independent scrutiny was an essential step before release, helping us give ZIL holders a verified path to migrate to Zilliqa EVM. Read the case study below.