Zilliqa to pivot from standalone L1 to Ethereum L2 for regulated institutions

Cointime update: Zilliqa said on November 5 that it will transition from a standalone Layer 1 to an Ethereum Layer 2 aimed at regulated institutions, to be called Zilliqa Institutional Layer. ZIL will remain the network’s sole token, and holders need not take action for now. The team cited insufficient usage and ecosystem growth, declining funding and liquidity, and recent security incidents as reasons, and said technical details on the impact on holders, exchanges and stakers will be published before the migration.