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?