zkSync Token Overview | Binance Will List ZKsync (ZK) and Launches Token Distribution Program

ZKsync (ZK) has been listed on Binance, the biggest cryptocurrency exchange in the world based on trading volume, and a ZK token distribution programme has been introduced. Trading for the new spot trading pairs will open on June 17, 2024, at 8:00 UTC, according to Binance.

 

 

 

What is ZKsync?

 

ZkSync uses zero-knowledge proofs (ZKPs) to eliminate blockchain congestion in order to offer a scalability solution for the Ethereum network, which is a smart contracts platform.

 

With the use of the ZKPs, a “prover” can show the so-called “verifier” that a claim is true while keeping all other information about the claim private. This helps to increase the scalability and privacy of the systems and allows transaction authentication while maintaining the confidentiality of the data.

 

 

 

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Binance Listing Details

 

ZKsync (ZK) will provide four new spot trading pairs: ZK/BTC, ZK/USDT, ZK/FDUSD, and ZK/TRY. Before trading, users can start depositing ZK. Withdrawals will be available on June 18, 2024, at 8:00 UTC. It has been verified by Binance that ZK will not have a listing charge.

 

 

 

ZKsync Token Distribution Program

 

 

Binance is initiating a ZK token distribution programme from June 17, 2024, until July 16, 2024, in conjunction with the listing. Up to 52,500 qualified Binance users will each receive a portion of 10,500,000 ZK tokens:

 

 

• In order to be eligible, users must have transacted 50 or more times on the ZKSync Era network from 2023 to 2024.
• At least seven separate months must have passed during this time frame for transactions to have taken place.
• It is important that the claim address is not a contract, CEX, or bridge address, and that it was not eligible to receive ZK tokens from the official ZK Nation airdrop programme.

 

 

 

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How to Claim ZK Tokens

 

A minimum of 0.02 ETH must be deposited from whitelisted addresses on the ZKSync ERA network to Binance.com in order for users to be eligible. There is no correlation between the quantity of Ethereum deposited and the distribution of ZK tokens. Each qualifying Binance User ID (UID) will receive 200 ZK tokens, and distribution will be done on a first-come, first-served basis. Launch day for the first token airdrop is June 25, 2024.

 

Binance has brought attention to the fact that ZK is a new coin that carries with it the possibility of more price volatility and higher-than-usual dangers. Before trading ZK tokens, users should do their homework and manage their risks appropriately. Users are required to complete matching quizzes on Binance Spot and/or Binance Margin every 90 days in order to gain access to tokens tagged with a seed tag.

 

Users can only trade in the new trading pairs if they are residents of certain countries or regions. The new pairings will not be accessible for trading to users located in some restricted regions, such as the US, Cuba, Iran, and Canada. Updates to laws and regulations may cause the list of prohibited nations to change.

 

Without giving any kind of notification, Binance can change or remove the announcement. The official Binance channels are a great place for users to get updates.

 

 

 

 

 

FAQs

 

1.Can zkSync perform the airdrop?

zkSync has already declared that they will shortly introduce their native token. The airdrop of ZkSync coins has not been formally announced, however it was expected to start in the first quarter of 2023. Many interested individuals are testing the testnet and mainnet in an attempt to improve their chances of getting the airdrop.

 

2. How can I be ready for the airdrop of zkSync Tokens?

The airdrop is not guaranteed to occur anytime soon, and there is no set procedure to qualify for it. Alternatively, nevertheless, you have the option to access the zkSync testnet and mainnet and conduct platform-related transactions there. Some individuals use native applications in order to maximise their chances of being chosen for the upcoming airdrop.

 

3.Can I add zkSync with MetaMask?

 

You must follow these three simple steps to add zkSync to your Metamask wallet:

 

• In your MetaMask wallet account, click “Add network manually” (found in the top centre of the platform).
• Enter the mainnet or testnet network details for zkSync Era alpha.
• Press the “Save” button to finish the procedure.

 

 

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• How to Trade Crypto Futures Contracts on BTCC
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