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Zilliqa
$0.06269 -11.04%
ZIL · 2w

First liquidations on Pillar Protocol gZil burning?

I see the first liquidations on Pillar Protocol have occurred. What's happening to gZil now? On the Pillar website I read the following: " The Liquidation Penalty is a percentage (starting off with 10%) of the Vault's contents when their Vaults are Liquidated that is distributed to the gZIL holders and the Pillar developers (For 4 years). When a Liquidation occurs: 30% of the Liquidation penalty is sent to the Developer 70% of the Liquidation penalty is use immediately to purchase gZIL from the open DEX markets, whereafter the gZil is burned." But if I check out the Liquidation transactions on viewblock.io I cannot find any gZil involved. Anybody know how this works and what happened after the liquidations?
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