How pZIL Works

pZIL is PlunderSwap's liquid staking token. It represents your share of the ZIL staked in PlunderSwap's staking pool, and it grows in value as the pool earns rewards.

The pZIL Mechanism

Non-Rebasing Value Accrual

pZIL is non-rebasing: your pZIL balance never changes, but the amount of ZIL each pZIL is worth goes up as rewards come in.

• The pZIL/ZIL exchange rate only goes up as rewards are added
• Your balance stays the same while its ZIL value grows
• The current rate is shown live on the staking page

Exchange Rate Formula

The staking contract calculates the rate directly:

pZIL price = (Staked ZIL + Rewards - Commission) / Total pZIL Supply

Example: if 1 pZIL = 1.10 ZIL when you stake 1,000 ZIL, you receive about 909 pZIL. When the rate later reaches 1.20 ZIL, your 909 pZIL are worth about 1,091 ZIL.

The Staking Process

Step 1: Stake ZIL

1. Send ZIL to the staking contract (minimum 100 ZIL per stake)
2. The pool delegates it to its validator
3. You receive pZIL at the current exchange rate

Step 2: Hold and Earn

• The Zilliqa 2.0 protocol pays rewards to the pool's validator every hour
• Rewards are added to the pZIL exchange rate as they arrive
• The pool re-stakes rewards, so they earn rewards of their own
• You never need to claim or restake anything

Step 3: Unstake

1. Burn your pZIL on the staking page
2. The ZIL amount is fixed at the exchange rate when you unstake
3. Wait out the unbonding period of 461,680 blocks (about 6 days at current block times)
4. Claim your ZIL from the staking page

Technical Architecture

Staking Pool Contract

• Holds the pool's stake and delegates it to its validator
• Mints pZIL when you stake and burns it when you unstake
• Calculates the exchange rate on-chain from the pool's stake and rewards
• Takes the commission from rewards only

pZIL Token Contract

• Standard ERC-20 token with 18 decimals
• Address: 0xc85b0db68467dede96A7087F4d4C47731555cA7A
• Only the staking pool can mint and burn pZIL

Using pZIL

pZIL is a standard ERC-20 token:

• Hold it in any EVM wallet and keep earning
• Transfer it between wallets like any other token
• Its fixed balance makes it straightforward for DeFi protocols to integrate

There are currently no pZIL liquidity pools, so the way to exit is to unstake through the staking page.

Benefits Over Staking Directly

Auto-Compounding

• Staking directly: You claim and restake rewards yourself, paying gas each time
• pZIL: Rewards are added and re-staked for you

Transferability

• Staking directly: Your stake can't be moved
• pZIL: A transferable ERC-20 token

Risk Considerations

Smart Contract Risk

Smart contracts can have bugs. The staking contract is upgradeable, and upgrades are controlled by the PlunderSwap team.

Validator Risk

The pool currently delegates to a single validator. If it misses blocks or goes offline, the pool earns fewer rewards.

Unbonding Delay

Unstaked ZIL can't be claimed until the unbonding period ends, about 6 days at current block times.

The Math Behind pZIL

APR

The staking page shows the current APR, measured from how much the pZIL exchange rate grew over the last 7 days. Because the exchange rate is already net of commission, this is what pZIL holders actually earn.

Commission

The pool currently takes 8% of rewards as commission. There are no deposit or withdrawal fees.

Getting Started with pZIL

1. Connect your EVM wallet: MetaMask, WalletConnect, Rabby, etc.
2. Stake ZIL: Visit our staking page
3. Receive pZIL: Sent straight to your wallet
4. Hold: pZIL grows in value as rewards accumulate

Conclusion

pZIL makes ZIL staking hands-off: stake once, and rewards are added and compounded for you while you hold a transferable token.

Ready to start earning with pZIL? Head to our staking platform.