After the airdrop shock that caused users and liquidity to drop sharply, ZKsync is showing signs of recovery. Is this a turning point to help ZKsync break through in the ZK rollup race?
The ZKsync layer 2 network is showing signs of recovery after the post-airdrop lull. The value of assets locked (TVL) on the platform has skyrocketed by nearly 90%, from $97 million to $184 million in just the first week of January 2025.

The main driver of this growth comes from a new liquidity incentive program called "Ignite", with a total prize value of up to 300 million ZK tokens, or $60 million.
The "Ignite" program is designed to attract users and boost liquidity on ZKsync Era, a layer 2 network that uses ZK-rollup technology to scale Ethereum. Ignite will consist of multiple seasons, each lasting several months with ZK token rewards available to users who participate in providing liquidity.
Season 1 will take place from January 6 to March 31, 2025, distributing 100 million ZK tokens ($20 million) to liquidity users on selected DeFi platforms, including:
Decentralized Exchange (DEX): SyncSwap, Uniswap, PancakeSwap.Perpetual Trading Platform: Holdstation.Lending Platform: Aave.
The remaining 200 million ZK tokens will be distributed in the following seasons, with details to be announced in the near future.

Previously, ZKsync went through a difficult period after the token airdrop in June 2024. Despite being expected by the community, the distribution of 3.6 billion ZK tokens to eligible addresses inadvertently created a shock to the ecosystem.
While some users were happy to receive the tokens, many others expressed disappointment and outrage at not being eligible for the airdrop despite believing that they met the criteria set by the project.
Some users criticized ZKsync for the disparity in token allocation rates, arguing that those who truly contribute to the ecosystem receive fewer tokens than those who only own NFTs or participate in airdrops from other projects. ZKsync is also accused of favoring professional "airdrop hunters" over actual users.

Against this backdrop, many users quickly withdrew their capital and left the network after receiving the tokens, causing a severe drop in trading activity and TVL.
Specifically, the 7-day moving average of the number of active addresses has plummeted from more than 200,000 in July 2024 to only 30,000 by the end of December 2024. This trend also takes place on other ZK-rollup chains such as Linea, Scroll, and Starknet.

Currently, Linea is leading the way in terms of the number of active user addresses among ZK-rollup solutions. ZKsync with its "Ignite" program is trying to attract users back and assert its position in the layer 2 race.
The success of this program will be an important factor in determining the development of ZKsync in the future.

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WHAT IS (ZK)?
"ZK" in the crypto space typically refers to zk-SNARKs or zk-Rollups, which are technologies leveraging zero-knowledge proofs (ZK) for privacy and scalability. While there isn't a specific cryptocurrency named "ZK," many projects incorporate zero-knowledge technology into their ecosystems. Below are some related concepts and projects:

What is Zero-Knowledge Technology?
Zero-knowledge proofs allow one party to prove the validity of information to another party without revealing the actual information. In blockchain, this technology is used for:
1. Privacy: Ensuring transactions are private (e.g., sender/receiver information is hidden).
2. Scalability: Compressing transaction data to improve throughput and reduce costs.

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Cryptocurrencies/Projects Using Zero-Knowledge Tech:
1. Zcash (ZEC): A privacy-focused cryptocurrency that uses zk-SNARKs to enable shielded transactions, ensuring the sender, receiver, and amount remain private.

2. Polygon zkEVM (MATIC): Polygon has launched a zk-Rollup solution called Polygon zkEVM, which improves Ethereum scalability while maintaining compatibility with Ethereum smart contracts.

3. StarkNet (STARK): A layer-2 solution that uses zk-STARKs to scale Ethereum, reducing gas fees and improving transaction throughput.

4. Loopring (LRC): A layer-2 scaling protocol and DEX (Decentralized Exchange) that uses zk-Rollups for fast and low-cost trading.

5. Mina Protocol (MINA): A lightweight blockchain using zk-SNARKs to maintain a constant size, allowing users to verify the blockchain without needing large amounts of storage.

6. Aztec Network: A privacy-focused layer-2 protocol for Ethereum using zk-Rollups and zk-SNARKs for private transactions.

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Use Cases of ZK Technology:
- Private transactions in DeFi and blockchain applications.
- Scalable, low-cost layer-2 solutions.
- Identity verification without exposing sensitive data.
- Privacy in voting, supply chains, and other blockchain systems.

If you're referring to a specific project or coin related to "ZK," let me know, and I can provide tailored information.
$ZK
#ZK
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