Addressing Community Concerns: Binance Launches ZK Token Distribution Program 🔥
Binance has rolled out a ZKSync (ZK) token distribution program in a bid to tackle ongoing community apprehensions. Starting from June 17, 2024, at 02:00 UTC until July 16, 2024, at 23:59 UTC, this initiative is geared towards easing tensions arising from previous allocations.
– 10,500,000 ZK tokens will be distributed, potentially benefiting up to 52,500 users.
ZK Token Listing on Binance 📈
To be eligible, participants must have conducted a minimum of 50 transactions on the ZKSync Era network from their address between February 202…werp of the allocations.
– Addresses must not have received tokens from the ZK Nation airdrop and must not be contract, CEX, or bridge addresses.
Token Claim Process 🔐
In order to claim the tokens, users need to deposit at least 0.02 Ethereum (ETH) from an approved ZKSync Era address to Binance. The quantity of ZK tokens awarded remains unaffected by the deposit size. The distribution will be on a first-come, first-served basis, with 200 ZK tokens granted per successful Binance User ID (UID) claim.
– Previous discontent stemmed from perceived unfairness in token distribution.
Community Feedback 🔄
Unrest within the community reached a climax when the hashtag #ZKsyncScam trended on social media due to allocation methods and transparency concerns. Major platforms on the ZKsync Era, such as Element, the largest non-fungible token (NFT) marketplace, criticized their exclusion from the airdrop benefits.
– Element voiced its frustration on social media despite being a major contributor to the platform.
New Distribution Strategy and Token Listing 🔄
In response to the backlash, Binance has revamped its token distribution strategy to rebuild trust and stability. Additionally, it will list the ZK token on June 17, 09:00 UTC, for trading on various ZK trading pairs like ZK/BTC, ZK/USDT, ZK/FDUSD, and ZK/TRY.
– Crypto traders are already formulating strategies based on FDV valuation.
Trader Strategies and Market Outlook 💸
“If ZK launches at an FDV of over $15 billion, I’m selling everything to buy lower below $10 billion later. If there is a launch below $7 billion, I’m holding. Finally, if ZK token trades above $20 billion FDV, I’m shorting aggressively,” Axel Bitblaze said.
The Binance ZK Token Distribution Program serves as a major step in addressing the concerns of the crypto community and ensuring a fair distribution process for all participants.
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