As a seasoned crypto investor with a keen interest in staying updated on the latest developments within the industry, I’ve closely followed the recent announcement from Binance regarding the listing of ZKsync (ZK) and their token distribution program. I must admit that my initial reaction was one of skepticism, given the controversy surrounding the airdrop process for this new token.
As a cryptocurrency market analyst, I can share that Binance, the leading cryptocurrency exchange, has made two significant announcements aimed at addressing concerns raised within their community. Firstly, they have introduced ZKsync (ZK) trading pairs, allowing users to buy and sell this cryptocurrency directly on their platform. Secondly, they have launched a token distribution program for ZKsync. These actions should help alleviate any apprehensions and bolster confidence among Binance’s user base.
Starting June 17, at 8:00 UTC, Binance will introduce ZKsync (ZK) for trading on its platform. Spot trading pairs with Bitcoin (BTC), Tether (USDT), Fiat US Dollar (FDUSD), and the Turkish Lira will be available for transactions.
As a researcher, I’ve discovered that Binance has announced new functionality for its users. Starting today, we can add ZK to our accounts in preparation for trading. However, withdrawals will only become available tomorrow, on June 18, at 8:00 (UTC).
As an analyst, I’d rephrase it as follows: In response to community backlash over the ZK airdrop, the exchange announced a token distribution program. This initiative aims to distribute approximately 10.5 million ZK tokens to around 52,500 users who meet specific eligibility criteria.
To participate in this program, a user must meet the following requirements:
To be eligible for the new ZK token distribution, it’s essential that no leftover ZK tokens exist from the previous airdrop in your wallet address. You need to deposit a minimum of 0.02 ETH from an approved address on the ZKSync ERA network into Binance to receive the new ZK tokens.
Based on Biancnce’s announcement, the initial airdrop of ZK tokens is set for June 25. Eligible wallets will secure their share of these tokens on a priority basis, depending on when they claim them.
The announcement from the ZKsync Association about their ZK token distribution has caused disagreement among the cryptocurrency community. The main concerns center around the potential for Sybil attacks in the airdrop program, which allows individuals to generate multiple false identities and take advantage of the token distribution process.
Mudit Gupta, Polygon‘s top information security officer, brought attention to this matter on social media, labeling the recent airdrop as “the most exploited and exploitable one yet,” owing to insufficient safeguards against such intrusions.
As a crypto investor, I’ve noticed the backlash regarding the ZK team’s approach to their recent airdrop. I understand the community’s concerns and have even shared some of them myself. However, in response, the team has acknowledged these issues but defended their chosen distribution strategy. They’ve provided a set of frequently asked questions (FAQs) and asserted that no major problems were identified during the airdrop process. Despite the differing opinions on this matter, I can tell you that the team remains committed to their approach.
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2024-06-17 15:00