Binance exchange has initiated a novel ZKSync token distribution program in response to community complaints. The initiative is scheduled to operate from June 17, 2024, until July 16, 2024.
The exchange aims to issue a total of 10.5 million ZK tokens, potentially benefiting a maximum of 52,500 individuals. In order to qualify, individuals must have successfully conducted a minimum of 50 transactions on the ZKSync Era network within the period from February 2023 to March 2024, with the exception of self-transfers.
To be considered eligible, addresses must not have previously received tokens from the ZK Nation airdrop and must not be contract, CEX, or bridge addresses.
In order to obtain tokens, individuals are required to transfer a minimum of 0.02 Ethereum (ETH) from a verified ZKSync Era address to Binance. The distribution of tokens will follow a first-come, first-served approach, where each Binance User ID (UID) that is successful will receive 200 ZK tokens.
Past allocations of tokens were met with criticism since they were seen as unjust and did not include sufficient measures to prevent Sybil attacks.
As a result, the hashtag #ZKsyncScam gained popularity on social media. Element, the leading non-fungible token marketplace on ZKSync Era, expressed dissatisfaction with being excluded from airdrop benefits.
Binance’s novel distribution method seeks to restore trust and stability in the ecosystem by creating a more equitable distribution procedure and reinstating confidence in its platform.
The inclusion of ZK tokens on Binance will enhance the liquidity and availability of ZK tokens in the cryptocurrency market. Axel Bitblaze and other cryptocurrency traders have discussed trading techniques that rely on the fully diluted valuation (FDV) of the ZK coin.
