zkRace

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Discover zkRace's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is zkRace?

zkRace (ZERC) is a cryptocurrency token that powers a metaverse project focused on creating a virtual NFT horse racing ecosystem. It aims to solve issues of corruption, lack of transparency, and trust in the horse racing and gambling industries by utilizing blockchain technology and ZK-rollup layer 2 technology. The token is designed to facilitate in-game transactions and offers a player-driven experience, ensuring a smooth and enjoyable gaming environment.

How is zkRace used?

zkRace (ZERC) is a cryptocurrency token used within the zkRace ecosystem, a metaverse project focused on creating a complete NFT horse racing universe. The token is designed to facilitate various activities and transactions within the platform, including:

  1. Betting and Gaming: Users can place bets on horse races using ZERC tokens, ensuring transparency and fairness in the betting process.
  2. NFT Ownership: ZERC tokens allow users to purchase and own unique NFT horses, which can be used for racing, breeding, and other activities within the metaverse.
  3. Personalized Gaming Experience: Users can customize their gaming experience by owning and managing their NFT horses, participating in races, and earning rewards.
  4. Bookmaking: Users can become bookmakers, controlling stakes in hippodromes and earning profits from fees and bets made by other players.
  5. Infrastructure: The ZERC token powers the underlying zk-rollup infrastructure, enabling the seamless operation of the GameFi ecosystem.

Overall, the zkRace token is the central unit of exchange and utility within the zkRace ecosystem, enabling users to engage in various activities and transactions while promoting transparency, fairness, and user ownership.

How do I store zkRace?

To store zkRace (ZERC) tokens, you can follow these steps:

  1. Add an Ethereum Account:

    • Open Ledger Live and ensure you have the latest version and firmware.
    • Install the Ethereum app on your Ledger device.
    • On the left panel, click on "Accounts" and then "Add account."
    • Select Ethereum (ETH) and connect your device, opening the Ethereum app.
    • Ledger Live will search for existing accounts on the blockchain and display them.
  2. View ERC20 Tokens:

    • On the "Accounts" page, click "Show tokens" under the Ethereum account that holds the ZERC tokens.
    • You can hide token accounts with zero balance in the settings.
  3. Send and Receive Tokens:

  • To send ZERC tokens, ensure you have ETH on the parent account to pay for network fees.
  • Select the ERC20 network type when sending tokens from an exchange to avoid losing them.
  • Token accounts will appear after the token transaction is confirmed on the Ethereum blockchain.
  1. Manage Tokens Not Supported in Ledger Live:
    • Verify that MetaMask is connected to the correct network.
    • If needed, use Chainlist to connect to the correct network.
    • Add your ZERC token to MetaMask by following the instructions.

By following these steps, you can effectively store and manage your zkRace (ZERC) tokens using Ledger Live and MetaMask.

How to buy zkRace?

To buy zkRace (ZERC) tokens, you can follow these steps:

Buying zkRace (ZERC) from a Decentralized Exchange (DEX)
  1. Download and Set Up a Crypto Wallet: Choose a reliable crypto wallet like Trust Wallet or Metamask that supports the blockchain where zkRace is listed. Ensure you download the official Chrome extension or mobile app from the wallet's website.

  2. Transfer Base Currency: Buy Ethereum (ETH) or another supported cryptocurrency using fiat. Transfer this currency to your crypto wallet.

  3. Connect to DEX: Choose a DEX that supports your wallet, such as 1inch. Connect your wallet to the DEX using your wallet address.

  1. Swap for zkRace: On the DEX, select the base currency you transferred as the "From" token and zkRace (ZERC) as the "To" token. If zkRace is not listed, find its smart contract address on Etherscan and paste it into the DEX. Set the amount you want to swap and click the "Swap" button.
Buying zkRace (ZERC) from a Centralized Exchange (CEX)
  1. Register on a CEX: Sign up for an account on a CEX that lists zkRace, such as KuCoin or Crypto.com. Verify your identity and secure your account with two-step verification.

  2. Buy Base Currency: Use fiat to purchase a base currency like USDT, ETH, or BNB on the CEX.

  3. Transfer to zkRace Trading Platform: If the CEX you're using doesn't support zkRace trading, transfer your base currency to a CEX that does.

  1. Buy zkRace: Use your base currency to buy zkRace (ZERC) in the spot market.

Remember to always be cautious of scams and ensure you're using official websites and contract addresses.

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History of zkRace

zkRace (ZERC) is a cryptocurrency project that emerged as a rebranding of DeRace in February 2024. This transition marked a significant step forward for the project, as it expanded to become a comprehensive GameFi infrastructure utilizing cutting-edge zk-rollup technology.

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How zkRace works

zkRace, formerly known as DeRace, is a metaverse project that aims to revolutionize the horse racing and betting industries by leveraging blockchain technology. Here's how it works:

Blockchain Technology

zkRace utilizes cutting-edge zk-rollup technology to ensure that all gaming activities are recorded and verified in real-time. This technology reduces costs for minting, transferring, trading, and storing data on-chain, easing blockchain congestion and improving off-chain performance.

NFT Horse Racing Ecosystem

zkRace is a complete NFT horse racing ecosystem where users can purchase, own, and manage unique NFT horses. Each NFT horse has distinct characteristics, allowing users to breed and create new horses with unique traits. This ownership is proven through blockchain technology, ensuring that users have full control over their digital assets.

Personalized Gaming Experience

The platform offers a personalized gaming experience where users can participate in horse racing, place bets, and profit from their horse's performance. Users can also become bookmakers, controlling the stakes in hippodromes and earning fees from other players' bets. Additionally, users can build and manage their own hippodromes, offering them to others and profiting from their use.

Transparency and Fairness

zkRace addresses the issues of corruption, lack of transparency, and lack of trust in traditional horse racing by providing a trustless and transparent environment. All transactions and race outcomes are recorded on the blockchain, ensuring that the results are fair and tamper-proof.

Integration and Accessibility

zkRace is available for purchase on various exchanges, including KuCoin and Gate.io, making it accessible to a wide range of users. The platform's integration with these exchanges allows users to easily buy and trade the ZERC token, which is the native cryptocurrency of the zkRace ecosystem.

In summary, zkRace is a comprehensive GameFi infrastructure that combines blockchain technology, NFTs, and a metaverse environment to create a transparent, fair, and engaging horse racing experience.

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zkRace's strengths

The zkRace (ZERC) token has several strengths that make it a promising investment in the GameFi sector. These include:

  • Innovative Technology: zkRace uses advanced zk-rollup Validium technology, which enhances scalability, reduces transaction costs, and ensures transparency. This makes the platform robust and efficient for web3 gaming.
  • Multi-Chain Integration: zkRace aims to be a fully multi-chain game, expanding its reach and usability across different blockchain networks. This increases exposure and accessibility for users and investors.
  • Player-Centric Platform: The platform is designed with a focus on player experience, offering seamless and engaging gameplay. It integrates real-life racing dynamics, making it appealing to both gamers and crypto enthusiasts.
  • Strong Utility: ZERC is used for all in-game transactions, including race entries, trading, and tournaments. This consistent use ensures high demand and circulation within the ecosystem.
  • Early Access and Rewards: Holding ZERC tokens gives you early access to new projects and features within the zkRace and W3Forge ecosystems, providing added value and exclusivity.
  • Transparency and Security: Blockchain technology eliminates corruption in horse racing, providing a transparent and secure betting environment. This builds trust and reliability among users.
  • Growing Market: By combining video gaming and horse racing markets, zkRace taps into two rapidly growing multi-billion-dollar industries. This positions it well for future growth and adoption.

These strengths contribute to zkRace's potential as a leading player in the GameFi sector.

zkRace's risks

zkRace (ZERC), as a cryptocurrency project, is exposed to various financial risks that can impact its performance and value. Here are some of the key financial risks associated with zkRace:

Market Risk
  • Volatility: zkRace's value can fluctuate significantly due to market conditions, making it difficult for investors to predict its future performance.
  • Liquidity Risk: If zkRace's liquidity is low, it can be challenging to buy or sell the token quickly, potentially leading to significant losses.
Credit Risk
  • Default Risk: zkRace may be exposed to default risk if it extends credit to other parties or relies on debt financing. If these parties default, zkRace could suffer significant financial losses.
Operational Risk
  • Mismanagement: Poor management decisions or internal operational failures can negatively impact zkRace's financial performance and credibility.
  • Technical Issues: Technical failures or security breaches can compromise zkRace's operations and lead to financial losses.
Liquidity Risk
  • Cash Flow Management: zkRace must manage its cash flow effectively to meet its financial obligations. Failure to do so can lead to liquidity crises.
  • Asset Conversion: If zkRace holds assets that are difficult to convert into cash quickly, it may face liquidity risks.
Currency Risk
  • Exchange Rate Fluctuations: As a cryptocurrency, zkRace is exposed to exchange rate fluctuations, which can affect its value and financial performance.
Other Risks
  • Regulatory Risks: Changes in regulatory environments or legal frameworks can impact zkRace's operations and financial performance.
  • Reputation Risks: Negative publicity or reputational damage can lead to a decline in zkRace's value and financial performance.

Effective financial risk management is crucial for zkRace to mitigate these risks and ensure long-term success. This includes diversifying investments, maintaining emergency funds, generating multiple income streams, and employing robust risk assessment and management strategies.

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Did zkRace raise funds?

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zkRace’s team

  • Adomas Juodisius: Founder and CEO of zkRace, emphasizing the impact of the partnership with Transak on the accessibility and mass adoption of the game.
  • Adelaida: Co-founder of zkRace, leading the multinational team of industry experts.
  • Eliza Crichton-Stuart: Head of Operations at zkRace, involved in the rebranding and introduction of the $ZERC token.
  • Adele: Founder and CMO at zkRace, highlighting the transformative experience and evolution of zkRace.

Whalee AI

The fundamental analysis assistant for crypto value investors.

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