Zilliqa Gives Up on Its Own Chain After ZIL Loses 99%

Zilliqa will stop running as an independent blockchain and rebuild itself as an Ethereum Layer 2 for regulated institutions. The team openly says weak adoption, scarce funding and rising security costs made its own network unsustainable. ZIL keeps its ticker and holders do not need to act yet, although the token’s economic role in the new network is undefined. The token trades at the lowest prices in its history after three separate security incidents this year.