ZkSync’s Phezzan Protocol Under New Management: What You Need to Know

04/23/2023 02:04 • Blockchain Buzz • 127 views

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

The Phezzan Protocol was founded by Roland and Jack in early 2023, with investments from VC firms like Delphi and Cogitent totalling $1 million. Believing that this financing method violated their community-oriented ideals, Roland and Jack later refunded the entire amount. On April 23, 2021, the Phezzan Protocol announced on Twitter that a new team has taken over the project management role and will conduct an IDO in the near future to solve the issue of operating funds. This article will take a closer look at these events and explore what these changes mean for the future of Phezzan Protocol.

Background on Phezzan Protocol

The Phezzan Protocol is a decentralized and sustainable contract agreement that aims to provide global aid for natural disasters, pandemic relief, and healthcare around the world. The protocol aims to create a transparent financial system that supports the welfare of communities in need, including aid to refugees, education, and gender equality. The project also plans to build partnerships with local governments, non-profit organizations, and other stakeholders to support community projects.

New Management Takes Over

The Phezzan Protocol announced on its Twitter account that it has a new team to spearhead the technical and operational aspects of the project. This new team will soon initiate the initial decentralized offering (IDO) of the protocol to raise funds. This change in leadership comes as a result of the previous founders’ decision to put a dent in their ideals, in terms of VC funding. The community has welcomed the new development as a positive sign for the project’s future.

What the Future Holds

With the Phezzan Protocol now moving forward with a revamped team, it remains to be seen how the project will fare in reaching its goals. The project will aim to introduce the Phezzan token while developing strong partnerships with reputed NGOs and non-profit organizations. The new team plans to use the funds raised from the IDO to support the project’s development and facilitate the outreach programs initiated by the project.

Conclusion

After the change of management at Phezzan Protocol, the project’s future seems to regain momentum, with a new team ready to take the reins. The shift towards community-oriented funding and the emphasis on sustainable development in different domains has set a righteous thought-provoking precedent in the blockchain community. If successful, the Phezzan Protocol would serve as a milestone in bridging the gap between blockchain and community welfare.

FAQs

What is the Phezzan Protocol?

The Phezzan Protocol is a decentralized and sustainable contract agreement that aims to provide global aid for natural disasters, pandemic relief, and healthcare.

Who are the founders of Phezzan Protocol?

The founders of the Phezzan Protocol are Roland and Jack.

Why did Roland and Jack refund their funds?

Roland and Jack believed that the financing method violated their community-oriented ideals.

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