Binance Lists ZKsync (ZK) Trading Pairs, Announces Token Giveaway Program to Appease Community Concerns

The biggest cryptocurrency exchange, Binance, has announced the listing of ZKsync (ZK) trading pairs and a token distribution program, which is meant to allay worries expressed by the company's concerns.

Major cryptocurrency exchange Binance has announced the listing of ZKsync (ZK) trading pairs and a token distribution program.

The exchange aims to alleviate concerns expressed by the community regarding the ZK airdrop.

Binance to List ZKsync (ZK) Trading Pairs, Announce Token Distribution Program

According to an announcement on June 16, Binance will list ZKsync (ZK) and enable trading for the following spot trading pairs: ZK/BTC, ZK/USDT, ZK/BUSD, and ZK/TRY.

The listing will take place on June 17 at 8:00 (UTC). Binance users can now start adding ZK to their accounts in preparation for trading. Withdrawals will be available the following day, on June 18, at 8:00 (UTC).

In light of the criticism from the community regarding the ZK airdrop, Binance has also revealed a token giveaway program.

The exchange intends to give out 10.5 million ZK tokens to roughly 52,500 users who fulfill certain requirements to claim the tokens from Binance.

To become eligible for this program, the user needs to have completed at least 50 ZKSync Era transactions between February 2023 and March 2024.

Additionally, within the specified seven months, the user must have started these transactions in different months.

Furthermore, there must be no ZK tokens remaining from the previous ZK Nation airdrop program associated with the wallet address.

Eligible users will be able to claim their ZK tokens by depositing at least 0.02 ETH to Binance from the approved address on the ZKSync ERA network.

The first token airdrop is scheduled for June 25, and eligible addresses will receive ZK on a first-come, first-served basis.

ZK Airdrop Faces Criticism, Exchange to Offer Token Giveaway

As reported by cryptoSlate, the ZKsync Association recently announced the ZK token distribution, which sparked controversy within the community.

The criticism mainly pertains to the airdrop program's vulnerability to Sybil attacks, where individuals can create numerous fake accounts to exploit the token distribution.

Mudit Gupta, Polygon's chief information security officer, highlighted this issue on social media, calling the airdrop “the most farmable and farmed ever,” due to the lack of substantial measures to filter out such attacks.

In response to the backlash, the ZK team acknowledged the community's concerns but defended their chosen approach.

They released a set of FAQs and asserted that no major issues were identified during the airdrop process. Despite the differing opinions, the team will proceed with its distribution strategy.

News source：https://www.kdj.com/cryptocurrencies-news/articles/binance-lists-zksync-zk-trading-pairs-announces-token-giveaway-program-appease-community-concerns.html

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