ZkSync’s Phezzan Protocol: From Founders’ Ideology to Project Management Takeover

On April 23rd, zkSync’s decentralized and sustainable contract agreement, Phezzan Protocol, announced on Twitter that a new team has taken over the Phezzan Protocol project and will assume the management role of the project, and will conduct IDO as soon as possible to solve the problem of operating funds. In early 2023, Phezzan Protocol founders Roland and Jack received investments from VC firms including Delphi and Cogitent, with a total financing amount of over $1 million. Afterwards, Roland and Jack believed that this method violated their community oriented ideals and refunded 100% of the payment.

ZkSync Ecological Sustainability Contract Agreement Phezzan Protocol has been taken over by a new team

Introduction:

ZkSync’s Phezzan Protocol announced on April 23rd that they have welcomed a new team to take over the management of the project. The team aims to conduct an initial decentralized offering (IDO) to tackle the operating funds issue. The founders’ community-oriented ideals led to the return of VC investment, and this article explores the growth story of Phezzan Protocol.

History:

In early 2023, Phezzan Protocol founders Roland and Jack received investments from VC firms with over $1 million in total financing. As the project progressed, the founders realized that the path they had taken violated their community-oriented ideals. As a result, they refunded 100% of the payment, leading to a search for alternative funding options.

ZkSync’s Phezzan Protocol:

ZkSync’s Phezzan Protocol is a decentralized and sustainable contract agreement that seeks to provide efficient global value transfer solutions. The Protocol’s aim is to combine the transparency of blockchain technology with efficient financial transactions to provide optimal user experience.

Management Takeover:

The Protocol has recently announced that it has adopted a new management team to help explore different avenues and gain more support. The new team plans to conduct an initial decentralized offering (IDO) of the Protocol. The IDO aims to raise enough funds to tackle the operating cost issues and finance future development plans.
The management team intends to enhance the project’s vision, which previously focused on a global value transfer service. The new management aims to integrate more blockchain features, including NFTs and DeFi applications, to make the Protocol more versatile.

Future Plans:

The new management team aims to attract more investors interested in the Protocol’s concept and features. The project has the potential to provide a more efficient and transparent global value transfer solution, making it an attractive investment option. The new management will steamroll the project’s development and provide a versatile use case for the Protocol.

Conclusion

The Phezzan Protocol founders, Roland and Jack, refunded their community fund oriented project venture capital, attracting a new team to take over the management. The project’s new management plans to hold an initial decentralized offering (IDO) to finance project activities and expand the Protocol’s features. The Protocol shows promise in being a versatile project offering innovative blockchain features to users interested in global value-transfer solutions.

FAQs:

1. What is Phezzan Protocol?
A: Phezzan Protocol is a decentralized and sustainable contract agreement that provides efficient global value transfer solutions.
2. What led to the change in management?
A: The founders refunded the VC investment due to a violation of their community-oriented ideals, necessitating the search for alternative funding and management options.
3. What are the new management team’s plans?
A: The new management team plans to explore alternative funding options such as an IDO, integrate more blockchain features into the Protocol, and increase investor interest.