Binance will distribute 10.5 million $ZK to 52,500 users

On June 17, cryptocurrency exchange Binance opened spot trading of the native L2 network token ZKsync (ZK) and launched a coin distribution program.

ZK trades are available in pairs with bitcoin, USDT, $FDUSD and Turkish lira. The asset withdrawal will open on June 18.

According to the announcement, amid "community concerns about coin distribution," Binance is offering 10.5 million ZK tokens to 52,500 users who meet the necessary criteria:

-- the wallet has initiated at least 50 transactions in the #ZkSync Era between February 2023 and March 2024;

-- initiated transactions within seven different months (February 2023 through March 2024);

-- the address did not receive an official airdrop from #zkSync.

-- the wallet is not associated with a smart contract, CEX or crosschain bridge address.

Eligible users must deposit a minimum of 0.02 ETH on Binance from a whitelisted wallet in the #zkSync. Era network.

The exchange will also distribute 200 ZK to each verified Binance user with a UID who makes the minimum deposit. The first token distribution will begin on June 25.

"ZK is a relatively new token that presents a higher-than-normal risk and is likely to be subject to high price volatility. Users should perform sufficient risk management and conduct their own research to fully understand the project before trading," Binance summarized.

Earlier, the ZKsync community complained about the failed airdrop, as only 13% of wallets were allowed to access it. At the same time, many of the addresses turned out to be "sybils".

Recall, the developers plan to distribute 3.6 billion $ZK among the early participants of the network. Claym will be available from June 24.