No. The wrapping ratio of ZOGI/BEZOGE is not based on the price of either token. The ratio at which you can wrap BEZOGE to ZOGI starts at 1bn:1, but the cost of wrapping 1 ZOGI will be calculated using the following equation:
Essentially the wrapping price will be 1bn + Accumulated Redistribution: 1
No, quite the opposite. Bezoge and Zogi will continue to be supported in the Zogi Labs ecosystem. Due to Bezoge being wrappable to Zogi at a fixed rate, if Zogi becomes more valuable, so does Bezoge.
Also, we will be indirectly adding additional liquidity to the Bezoge token as we add liquidity to Zogi on each chain. This increased liquidity can help to bring additional stability to the Bezoge token itself.
Zogi brings nothing but benefits to Bezoge holders.
There are several benefits to multi-chain:
1. Access to a wider user base
Each chain has its own set of active users. Making ZOGI accessible on more chains means we increase the potential user base of the token and gain exposure in new ecosystems.
2. Lower gas fees
Gas fees on Ethereum can be very high at times when the network is congested. Bringing ZOGI to lower gas fee chains means it will be more accessible, especially to smaller holders.
3. Arbitrage opportunities
With ZOGI trading independently on each chain, there will be arbitrage opportunities for traders when there is a price difference between chains. This not only brings additional trading volume to the token but also brings an opportunity for holders to potentially profit from arbitrage trading.
4. Ecosystem support and partnerships
With each chain we add to the Zogi ecosystem comes opportunities to make partnerships with the chain itself and also the native platforms and DeFi protocols running on the chain. This brings extra exposure to Zogi Labs.
At Zogi Labs, we believe in being chain agnostic and supporting as many chains as possible within our ecosystem. Right now we only support 3 chains, but we will be adding more chains in the near future.
The total supply of ZOGI is dynamic and is based on the wrapping price and circulating supply of BEZOGE. The only way to mint ZOGI is to wrap BEZOGE and the wrapping ratio starts at 1bn:1.
At the time of publishing, the circulating supply of BEZOGE is 43,417,500,508,933,500; making the total possible supply of ZOGI 43,417,500.
However, due to the 2% tax on BEZOGE transactions, the total possible supply of ZOGI will continue to decrease over time as more and more BEZOGE is removed from circulation.
You can wrap BEZOGE to ZOGI using the official Zogi Wrapper in the Zogi Hub.
Disclaimer: This is the ONLY place to wrap BEZOGE to ZOGI, please do not try to wrap on any unofficial websites as you may lose your tokens.
You can bridge ZOGI using the official Zogi Bridge in the Zogi Hub. We support bridging between Ethereum, Cronos, and BNB Chain with more chains to be supported soon.
Disclaimer: This is the ONLY place to bridge ZOGI, please do not try to bridge on any unofficial websites as you may lose your tokens.
Firstly, BEZOGE will continue to be supported within the Zogi Labs ecosystem. If you feel more comfortable continuing to hold BEZOGE, you can continue to hold and trade your tokens as normal. We are not forcing holders to wrap to ZOGI, just giving the option to those who want to.
Secondly, you do not need to "swap" on any DEX like Uniswap. Instead, you can wrap your Bezoge tokens to ZOGI using the Zogi Wrapper at a fixed rate. If you swap using a DEX you may receive fewer tokens than you would on the official wrapper due to price differences and price impact when swapping. We recommend always using the official Zogi wrapper.