As an experienced analyst in the cryptocurrency space, I am intrigued by Bybit’s latest announcement regarding the ZKsync (ZK) project on its ByStarter platform. The initiative offers participants a unique opportunity to earn substantial rewards from a prize pool of 14,700,000 ZK tokens by completing tasks assigned during the Participation Period.
Starting from June 17, 2024, ByBit, a well-known cryptocurrency exchange, will initiate the ZKsync (ZK) project through their ByStarter platform. This endeavor invites the crypto community to participate.
🚀 Excited news from #Bybit! The ZKsync (ZK) ByStarter has commenced. @zksync users, complete tasks for a guaranteed win and stand a chance to secure one of the 14,700,000 $ZK Tokens. Keep an eye out for the upcoming listing of $ZK once the liquidity conditions are met.
— Bybit (@Bybit_Official) June 17, 2024
The company has revealed that signing up for ZK ByStarter and completing designated tasks will incentivize participants with attractive rewards drawn from a total reward pool worth 14,700,000 ZK.
The ZK ByStarter project has three distinct phases:
To join in, users need to set up a Bybit account and go through the verification process. Afterward, they must link a Web3 wallet on ByStater, transfer 100 USDT from their Bybit Funding Account into it during the specified participation period, and accomplish all on-chain tasks before the given deadlines.
To encourage a wide range of involvement and interaction within the Bybit platform, the company introduced various reward systems.
- The Participation Prize is the first offering, wherein the first 400,000 participants to lock in $100 USDT each will get five ZK tokens.Â
- The Sunshine Prize, where users who fulfill the necessary tasks but are unsuccessful in winning the lottery will receive 4,600,000 ZK tokens.
- The Grand Prize selected 27,000 winners will share 8,100,000 ZK tokens, giving each of them 300.
Starting on July 25, 2024 at 10 AM UTC, the ZK tokens obtained via the program will automatically be deposited into each participant’s Bybit Funding Account.
As a analyst, I’d describe ZKsync as follows: I focus on Ethereum scaling and privacy solutions through ZK Rollup technology, which is the foundation of ZKsync. This innovative architecture significantly improves the efficiency and security of transactions involving ETH and ERC20 tokens within the Ethereum network. By addressing the prevalent scalability challenges in blockchain ecosystems, we ensure smoother and more secure transaction processing.
In essence, Bybit’s unveiling of the ZKsync initiative through its ByStarter program signifies a thoughtful approach aimed at bolstering community interaction and enlightening participants about sophisticated blockchain expansion techniques.
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2024-06-17 16:04