If you've been staking Zilliqa since 2020 then you may have noticed the governance token gZIL showing up in your wallet. There's a finite supply and runs through nearly the end of 2021. If you're wonder what to do with them, here's an option other than voting. gZIL to ZIL with Atomic Wallet & Zilswap.io.
Options To Expand Your Position
Like many who operate in the crypto space there are HODLers and then there are those who look at putting capital to work. Anything short of compounding returns is not sufficient.
When it comes to Zilliqa, 2021 has proven thus far the project is to be reckoned with. The governance token gZIL that appears from staking returns is yet another reason to stay supportive.
While the voting options are just getting started, I suspect that many who are staking Zilliqa are not in that place where they want that level of involvement. Capital producing capital is what they would like to see.
With that in mind, here's a simple option that may line up nicely for you.
Zilswap.io
The swap service Zilswap by Switcheo is a simple no bologna (unless you want it on your sandwich) kind of service.
Like many swap or exchange services that you would expect today, connecting a wallet is very easy.
2 options exist to connect your wallet. In this case we are using Atomic Wallet so you have to use the ZIL private key.
A Note About Private Keys
As I described to a group of colleagues. Your private key is the password to your crypto.
Here's the thing. You lose or have your email, account or other passwords compromised, then you reset them. With your private key, IT's GONE!
If it's compromised you better move quickly otherwise you may be saying ciao to your assets. If lost, you better grab some kleenex or be ready to go under hypnotic regression and try to remember it all.
From Atomic Wallet
So you're going the private key route. It's really pretty simple.
Settings => Private Keys (upper right corner) => Enter Your password.
You will be shown the list of public / private key combinations in your wallet and you can just click to copy the ZIL private key.
NOTE: Whenever you are operating with your private keys expose be sure to practice sound IT security. Use your VPN. Better yet, disconnect the LAN or turn off the wifi. Also, as soon as you copy the private key, be sure to click to another page of Atomic Wallet as that will close the private key page.
Remember that you have the private key on your clipboard as well.
So now that you have your private key, add it to the Zilswap prompt and move ahead.
At that point, it's like any other swap transaction. Your wallet is connected and you will be able to see the gZIL and ZIL balances of the wallet as the other assets built on the Zilliqa network if you're looking at those as well.
Swap-away!
It's Really That Simple
For most when they first start acquiring the gZIL wondering what to do with it becomes a little curious at best. As the price has fluctuated between $60 and $420 since gZIL became available in October of 2020, the choice on what to do is in your court.
Some may sit on the gZIL until a later date. Others are thinking that exchanging for ZIL to begin staking is the preferred option. Basically there is no wrong decision if that is what you're compelled to do.
