Binance has recently made an exciting announcement regarding the listing of Zksync (ZK) trading pairs on their platform. In addition to this, they have introduced a token distribution program in an effort to address concerns within the community about the upcoming token airdrop.
Starting from 10:00 (UTC) on Jun. 17, users will have the opportunity to engage in spot trading of the ZK token on Binance. This trading will be available in pairs against Bitcoin (BTC), Tether (USDT), First Digital USD (FDUSD), and the Turkish Lira (TRY). To encourage participation, Binance is allowing users to deposit ZK for trading, with withdrawals becoming available the following day.
Furthermore, Binance has unveiled plans for a token giveaway program that aims to distribute 10.5 million tokens to approximately 52,000 users. To qualify for this program, users must have conducted a minimum of 50 ZKsync Era transactions between February 2023 and March 2024, spread out over at least seven different months within that timeframe. It’s important to note that individuals who have already obtained ZK tokens through the official ZK Nation airdrop program will not be eligible for this distribution.
The distribution of ZK tokens will be on a first-come, first-served basis, with the initial token airdrop scheduled for Jun. 25. Binance acknowledged that there are ongoing concerns within the community regarding the ZK token distribution, particularly in light of recent criticisms. The ZKsync Association had previously announced details about the airdrop, which led to mixed reactions on social media platforms.
One key criticism that has emerged is related to the lack of safeguards against Sybil attacks in the airdrop program. Sybil attacks involve the creation of numerous fake accounts to acquire more tokens during the airdrop process, ultimately impacting the fair distribution of tokens.
In response to the community feedback, the ZK team has reaffirmed their commitment to the planned approach and has addressed common concerns in a FAQ section to provide clarity.
In a related development, KuCoin, a crypto exchange based in Seychelles, also announced the listing of Zksync (ZK) trading pairs on their platform, starting from 8:00 (UTC) on Jun. 17. KuCoin users are encouraged to deposit ZK for trading, with withdrawals set to begin at 10:00 (UTC) on Jun. 18.
Overall, the addition of ZK trading pairs on Binance and KuCoin, along with the token distribution program, marks an important milestone for the Zksync community. As the airdrop controversy continues to unfold, it will be interesting to see how these developments shape the future of the project and its wider adoption within the crypto space.