๐ฃ Matter Labs, creators of ZkSync Ethereum Layer 2, are waving goodbye to their trademark efforts for the term "ZK". ๐ณ๏ธ
โข After a clash with Polyhedra Network over the use of "ZK" as a ticker symbol, Matter Labs faced a backlash from the Web3 community, leading them to drop their trademark plans.
โข The firm acknowledged that what works in the Ethereum ecosystem might not be globally applicable, given the diverse perspectives and stakeholders involved.
โข Key figures from ZK projects, including Polygon co-founders and StarkWare's CEO, expressed strong opposition to the move.
โข StarkWare called the behavior "oppressive", while ConsenSys-backed Layer 2 solution Linea also condemned Matter Labs' actions.
Matter Labs said, "Weโre proud to be a part of a movement that cares so deeply about cypherpunk values."
What do you think about this? Share your thoughts in the comments! ๐จ๏ธ #Web3 #Layer2 #DeFi #DAO