Polyhedra Network launches staking following ZK trademark drama resolution

As a seasoned crypto investor, I’ve seen my fair share of market volatility and project developments. The latest announcement from Polyhedra Network about their temporary staking program has certainly piqued my interest.

Polyhedra unveils a new staking initiative, providing an incentive for contributors with a combined reward of $1.13 million in USDT equivalent values of ETHFi, Id, and Cyber tokens.

As a crypto investor, I’m excited to share that Polyhedra Network, the innovative team behind zkBridge, recently announced the initiation of a limited-time staking program. By participating, investors like myself stand to earn USDT tokens worth an impressive total of $1.13 million.

During the four-week-long staking program, token holders can deposit their ZKJ tokens to receive rewards in ETHFI, ID, and CYBER tokens, as announced by Polyhedra. The event runs until July 11th. A minimum staking duration of one week is required for participation. To earn a $100 reward, participants must stake a minimum of 1,000 ZKJ tokens, currently valued at approximately $1,110 in the market.

I’m thrilled to share the exciting news with you all: the Polyhedra Network Staking Program has officially launched! 🥳

— Polyhedra Network (@PolyhedraZK) June 10, 2024

Recent news: Matter Labs, the organization responsible for zkSync, a layer-2 solution in the cryptocurrency sphere, has withdrawn its efforts to trademark the term “ZK” following controversy within the community. This decision was made just three days after prominent ZK researchers voiced their opposition, insisting that advancements in this field should remain open to the public.

The dispute arose when Matter Labs applied for trademarks on the shorthand “ZK,” intending to secure exclusive rights, even though Polyhedra Network’s token used the same identifier. In retaliation, Polyhedra Network shifted its ticker to “ZKJ” and denounced Matter Labs’ behavior as that of a “pirate and plunderer in the blockchain realm,” rather than a builder.

Matter Labs disclosed that they’ve filed for trademark registrations relating to “ZK,” allowing them to use this term in connection with names such as “ZK Sync” and “ZK Stack,” which are linked to their organization.

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2024-06-10 11:50