Binance has made an exciting announcement regarding the addition of ZKsync (ZK) trading pairs to its platform. In a bid to engage with the crypto community, Binance will be giving away 10.5 million ZK tokens to approximately 52,500 lucky users through a special token giveaway program.
Following the trend set by other major exchanges, the decision to list ZKsync (ZK) trading pairs on Binance is a significant one. This move comes at a time when there is increasing scrutiny over the distribution of ZK tokens and marks a major milestone for ZKsync, a Layer 2 scaling solution for Ethereum that utilizes ZK-SNARK roll-up technology.
Starting at 8 a.m. UTC on Monday, users on Binance will be able to trade ZK against BTC, USDT, FDUSD, and the Turkish Lira. Deposits for ZK are already open, with withdrawals set to begin the day after the listing.
In addition to the trading pair launch, Binance has also introduced a token distribution program to capitalize on the excitement surrounding the ZK token airdrop. This initiative will see 10.5 million ZK tokens being distributed among 52,500 users, although the airdrop process has faced criticism from some quarters.
The decision to list ZKsync on Binance follows in the footsteps of other exchanges like Bybit and Bitget, all of whom recognize the importance of integrating ZK-SNARK roll-up technology into their platforms. These exchanges are responding to community concerns, particularly regarding the transparency of the ZK token distribution.
The crypto community has had a mixed reaction to the ZK airdrop, with some expressing concerns about potential vulnerabilities, such as susceptibility to Sybil attacks. Additionally, ZKsync’s approach to the airdrop has sparked debate on social media, with some labeling the project as a scam. The controversy largely centers around the strict eligibility criteria for receiving ZK tokens, which require active engagement across different smart contract networks and ERC-20 token trading.
On June 11, ZKSync made an eagerly awaited announcement regarding a token airdrop for its community of 7 million users. However, the distribution of ZK tokens through the ZK rollup will be limited to 695,232 wallets.