A noteworthy development in the blockchain gambling platform, ZKasino, made news recently with an unexpected shift. Initially intending to redistribute $33 million in Ethereum (ETH) to investors and users, they instead opted for a less costly option. This sudden change was surprising but forms part of their long-term strategy to strengthen the project.
In a blog post dated April 20th, ZKasino revealed the commencement of its network. Over 10,000 individuals transferred more than 10,515 Ether (ETH) as part of the migration, with the expectation of receiving ZKasino (ZKAS) tokens in return. However, these users were taken aback when they discovered their Ether had been swapped for ZKAS tokens at a reduced rate instead.
The shift by ZKasino from Ethereum (ETH) to ZKAS tokens wasn’t made impulsively. Instead, it’s part of a larger strategy to enhance user experience. These modifications were necessary to align with the project’s objectives and facilitate a hassle-free transition since ZKasino functions independently from the Ethereum network.
Additionally, ZKasino’s move to invest their funds in Lido represents a reinforcement of the project. Through staking, ZKasino not only bolsters the network’s safety but also has the opportunity to boost the worth of their investment in the long run.
The enigmatic figure behind the cryptocurrency project “cygaar” claims that ZKasino’s blockchain was hastily set up using Arbitrum Nitro instead of the advertised zero-knowledge technology or EigenDA.
On a widely-used social media site, many supporters of ZKasino are accusing it of being a scam and exiting with the money, some even disclosing the identity of the founder, “Derivatives Monke,” in an attempt to instigate lawsuits.
On April 21st, Big Brain Venture Capital caused a stir when they declared that they had not invested in ZKasino, contradicting the company’s assertion of a $350 million Series A round which included their participation. ZKasino’s claim of Big Brain’s involvement now seems questionable.
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2024-04-22 09:40