Binance is set to list ZKsync (ZK) trading pairs starting today at 8 AM UTC, addressing community concerns with a new token distribution program. Available trading pairs include BTC, USDT, FDUSD, and the Turkish Lira. Users can deposit ZK now, with withdrawals available starting tomorrow. This listing coincides with the official start of ZKsync airdrop claims.
Community Criticism
The ZKsync airdrop has faced significant backlash due to its perceived lack of Sybil attack prevention and disproportionate token distribution. Critics argue that long-time supporters of ZKsync were excluded, with 60% of the airdrop going to only 50,000 wallets. Concerns also revolve around airdrop recipients who held certain NFTs and lesser-known tokens receiving more substantial multipliers. Binance acknowledges these concerns in their announcement.
ZK Giveaway Eligibility
To mitigate the criticism, Binance has introduced a token giveaway program, distributing 10.5 million ZK tokens to approximately 52,500 users. Eligibility requires users to have made at least 50 transactions on ZKsync Era between February 2023 and March 2024, over at least seven different months. Importantly, users who have claimed ZK tokens from the official ZK Nation airdrop are excluded from this program. The first token distribution is scheduled for June 25.
Source: Crypto Briefing
Analysis and Insights
Binance's move to list ZKsync and address community criticism through a targeted token giveaway is significant. It reflects the exchange's commitment to maintaining user trust and addressing community concerns. Investors should watch how this impacts ZKsync's adoption and market perception. The focus on long-term users and transaction history may also drive increased activity on the ZKsync network, potentially boosting its value.