- Binance has announced the listing of ZKsync (ZK).
- The exchange has also set a distribution program for ZK tokens.
- The distribution program intends to address concerns surrounding the official ZK token airdrop.
Crypto exchange Binance announced on Monday that it will list multiple ZKsync (ZK) trading pairs and launch a distribution program in response to concerns raised by the project’s community.
The announcement comes after ZK Nation unveiled plans on June 11 to distribute 3.6 billion ZK tokens to eligible users starting this week. While the project termed it “mother of all drops” experts warned that the airdrop could become a disaster, especially if hit by a “farmer” engaging in a Sybil attack.
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Sybil attacks happen when people create a large number of fake accounts to acquire more tokens while farming the airdrop, ultimately hurting the intended goal of boosting engagement and promoting fair governance.
Binance Listing and Response to User Concerns
In a statement dated June 17, Binance said it will list ZKsync (ZK) and open trading for ZK/BTC, ZK/USDT, ZK/FDUSD, and ZK/TRY trading pairs on Monday at 08:00 (UTC). Withdrawals will open on June 18 at 08:00 (UTC).
The listing will be followed by the Binance ZK token distribution program, which will run from June 17 at 02:00 (UTC) to July 16 at 23:59 (UTC).
“In light of the ongoing concerns from the community around ZK token distribution, Binance is offering 10,500,000 ZK tokens to up to 52,500 Binance users,” Binance said.
Eligible users include those who have initiated at least 50 transactions on ZKSync Era between February 2023 and March 2024, with the transactions spread across at least seven distinctive months within that timeframe.
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Claim addresses that are not contract, bridge, or CEX deposit addresses and were not eligible for the ZK’s Nation’s official airdrop also qualify for Binance’s distribution program.
Per the statement, Binance will distribute 200 ZK to each Binance User ID on a “first-come, first-served basis” provided the users have met all the above criteria. The first token airdrop will begin on June 25.
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