C.Meij

Hi Zilliqa team, thank you for the FAQ and the transparency so far. Below are specific questions from a ZIL holder. To make them easy to answer, I’ve asked for numbers, dates, or yes/no wherever possible. New ZIL and the transition 1. The FAQ says the L2 brings “21B new ZIL that will be distributed to their rightful owners.” Will existing ZIL be replaced or invalidated? Will every holder receive new ZIL 1:1, yes or no? If not, what percentage of the 21B goes to non-holders (company, foundation, team, investors, LTIN, institutions)? 2. How much ZIL do the company, foundation, team, and investors hold today, and will they receive any of the new ZIL? Will you publish these balances, including lock-ups, before any snapshot? 3. Will you commit to a minimum notice period (for example 30 days) and publish the exact mechanics before any snapshot, swap, or migration? Token value 4. Fees are “most probably 0 ZIL,” there is most probably no staking, and the required ZIL per institution is “kept as low as possible.” Please name one concrete mechanism where ZIL demand grows with network usage, and show the math: how much ZIL would be required in total with 10 institutions, and with 100? 5. Burns are “based on revenue.” If fees are zero, what is the revenue, who pays it, and in what currency? Will burns be automatic and onchain, or discretionary? 6. With security coming from Ethereum, why would a holder prefer ZIL over holding ETH? What do holders get that they do not get today? Staking and the current chain 7. If staking is removed, what happens to staked ZIL: end date for rewards, unstaking period, any penalty, and any compensation for lost yield? How much ZIL is staked today? Control and censorship 8. Who holds the upgrade keys, pause function, whitelist policy, and the power to replace the sequencer (names or entities, multisig threshold, timelock)? Will you commit that users can always force-withdraw to Ethereum without LTIN’s permission? 9. Can LTIN or Zilliqa revoke a vLEI and thereby block or freeze a wallet’s funds? Can the funds of non-institutional holders be frozen? Which law and regulator apply (for example Liechtenstein’s TVTG, MiCAR), and has ZIL been legally classified? LTIN dependency 10. What percentage of LTIN does Zilliqa own, and is the arrangement exclusive? LTIN has also announced identity work on other chains such as Solana. What stops institutions from using LTIN’s vLEIs elsewhere without ZIL? If LTIN’s QVI accreditation is delayed or denied, what is Plan B? Proof of demand and accountability 11. The FAQ says no institution is committed to production yet. How many signed letters of intent or pilots exist? By what date will the first institution transact on the L2? What milestone, by what date, would you accept as proof the strategy has failed, and what would you do then? 12. The earlier roadmap listed a Mediation Layer specification and a first public report on ZIL economics as early milestones. Which were delivered, which were not, and why should the new timeline be trusted? Incidents 13. X-Bridge: how much value was lost? Was the compromised key a single key or part of a multisig, who held it, and how was it compromised? Has an independent post-mortem been commissioned? Will the treasury be used for compensation, yes or no? Also, did the external security firm announced on 25 October produce findings, and will they be published by a specific date? 14. ZRC-2: what was the total value extracted, how much was frozen or recovered at exchanges, and will recovered funds go to affected LPs and holders? An earlier version of the FAQ said PlunderSwap goes offline on 26 November and asked liquidity providers to withdraw; that line was removed. Is the date still valid? Company 15. What is the runway in months, and what is the treasury composition? Will you publish it by a specific date? When will permanent leadership be named, and does the former CEO keep any advisory role or token or equity interest? Thank you for your time. Clear answers, even partial ones with dates, would help holders plan with confidence. Looking forward to your reply.