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ZrCoin
About ZrCoin
ZrCoin (ZRC) was a blockchain-based financial derivative designed to facilitate investment in synthetic zirconium dioxide (Synth. ZrO₂) production. Each ZrCoin token represented one kilogram of Synth. ZrO₂ and could be traded, redeemed for the physical commodity, or sold back through a planned buy-back programme. Launched on the Waves blockchain, the project aimed to combine blockchain technology with industrial manufacturing while promoting green production by using waste materials. The project conducted an ICO in 2017 to fund a production facility in Russia, with plans to buy back tokens at a minimum of $400,000 per month. However, its long-term success remains uncertain due to a lack of updates, an inactive website, and unclear buy-back execution. The token’s market presence has diminished, raising questions about its operational status.
ZrCoin (ZRC) was a blockchain-based financial derivative designed to facilitate investment in the production of synthetic zirconium dioxide (Synth. ZrO₂). The project aimed to combine blockchain technology with industrial production, allowing investors to purchase tokenized options representing one kilogram of Synth. ZrO₂. The token was launched on the Waves blockchain platform and functioned as an investment tool that could be redeemed for either the underlying industrial commodity or fiat currency through a planned buy-back programme.
ZrCoin was intended to offer investors exposure to the industrial minerals market, specifically the refractory materials sector. The project focused on the production of high-purity synthetic zirconium dioxide, which is used in industries such as metallurgy, glassmaking, and ceramics due to its high durability, stability, and corrosion resistance. Investors in ZrCoin had the option to trade their tokens on cryptocurrency exchanges, redeem them for physical Synth. ZrO₂, or participate in the scheduled buy-back programme, which was expected to repurchase a minimum of $400,000 worth of ZrCoin per month.
Additionally, ZrCoin sought to position itself within the green manufacturing sector by using waste products from glass and metallurgical industries as raw materials, aligning with the Russian national environmental initiative "Clean Country."