Zap Components #1: The Basics

To many still an unknown fact, Zap was the first decentralized oracle platform to be launched on mainnet. This historic event happened on January 1st, 2019. Since then, a lot has changed, and the protocol has expanded its capabilities far beyond the offering of data alone. We understand why for some, it might seem unclear what exactly Zap Protocol is all about. So, now the protocol is starting to mature and we’re entering a new phase of growth, we felt it was time to explain Zap in a non-technical manner to the general public in a brand new blog series. Starting with the most obvious question:

What is Zap?

Zap is a permissionless protocol that allows anyone to:

A) Buy or sell data

B) Create liquid tokens

C) Set pre-defined pricing curves

D) Bond and un-bond money to these curves

(E) Build all kinds of products/services leveraging these tools

These are each pretty powerful features seperately (think of the success of Chainlink and Ethereum for data and tokenization, or Uniswap for bonding curves), but the real fun begins when we start mixing them up.

You can:

  • Offer and monetize your companies’ API feeds (Coingecko)
  • Release always-liquid tokens that mint and burn autonomously
  • Track a cup of coffee from bean to cup (Cafe Joe USA)
  • Launch a stablecoin tethered to a basket of currencies
  • Design a cryptocommodity tethered to physical crude oil (EnergyLedger)
  • Create a liquid digital security that automatically trades on a DEX
  • Tokenize luxury properties and offer equity to investors (JuJu Rentals)
  • Build a tradable futures market product
  • Invest in an NFL pro-athletes’ career
  • Create a wrapped ERC20 token (Divi Project)
  • Sell shares of stock in rare classic cars
  • Have your social network users monetize their personal data (Howdoo)
  • Release fraud-proof gift cards (Cafe Joe USA)
  • Launch a DAO
  • Do a fundraiser
  • Tokenize yourzelf in minutes (Community member Ben Gravis)
  • Release a dev bounty programme
  • Create a curation market around something to incentivize early adoption
  • Build a fully liquid DEX product
  • Curate data (Coingecko)
  • Launch an Initial Oracle Offering
  • Tokenize other oracle networks’ oracles
  • Invest in individual oracles that you think will be valuable

…And much more.

Bonus: Zap allows for instant realization of some of these usecases already through the use of customizable turn-key templates. These are like themes for Wordpress, but for blockchain products.

Basically, Zap is a decentralized, permissionless toolkit for DeFi and Web3, that also includes oracles.

These are just a few exciting possibilities, of which some are already being exploited and powered by Zap Protocol. We will be explaining each of Zaps’ powerful components in more detail in the following blog entries, as well as discuss exactly how these components work together to realize some of these usecases.

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Crypto projects & topics of interest in a non-technical way. Author Twitter: @dave_jonez_02 & @3mperat0r.

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Dave Jones

Dave Jones

Crypto projects & topics of interest in a non-technical way. Author Twitter: @dave_jonez_02 & @3mperat0r.

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