zkSync

The ZKsync Chinese community recently made a significant statement on the X platform, expressing deep dissatisfaction with Matter Labs’ leadership decisions. Despite acknowledging their lack of direct influence over current circumstances, the community emphasized their unwavering commitment to transparency and accountability towards their contributors and members. 
<h2 id="public-accountability-and-calls-for-transparency">Public Accountability and Calls for Transparency</h2> 
In their detailed post, the <a href="https://coingape.com/tag/zksync/" target="_blank" rel="noopener">ZKsync</a> Chinese community reiterated their sense of responsibility towards their members and supporters amidst the ongoing controversy involving Matter Labs. They voiced frustration over their inability to sway decisions made by Matter Labs but stressed their firm stance on transparency. 
The community announced their intention to publish a thorough narrative of events, backed by verifiable evidence to substantiate their claims. While emphasizing that their purpose is not to instigate conflict, they cautioned that Matter Labs’ staunch policies could potentially jeopardize the zkSync project if concerns remain unaddressed. 
Despite the tense situation, the community clarified that they do not intend to sever ties with Matter Labs entirely. Instead, they view this moment as an opportunity for constructive dialogue and renewal. Addressing potential misconceptions, they affirmed that their criticisms stem from a commitment to the collective welfare rather than personal agendas, aiming to foster greater clarity and cooperation moving forward. 
Also Read: <a href="https://coingape.com/turkey-crypto-tax-turkish-lira-woes-push-investors-to-crypto-heres-why/" target="_blank" rel="noopener">Turkey Crypto Tax: Turkish Lira Woes Push Investors to Crypto, Here’s Why</a> 
<h2 id="repercussions-of-matter-labs-trademark-move">Repercussions of Matter Labs’ Trademark Move</h2> 
<a href="https://coingape.com/matter-labs-zk-trademark-tussle-clashes-with-ethereums-core-principles-heres-all/" target="_blank" rel="noopener">Matter Labs</a>, had recently stirred controversy by seeking exclusive ownership of the “ZK” term. This decision sparked widespread concern among Ethereum enthusiasts, who argued that zero-knowledge proofs are a collaborative achievement of researchers globally, not proprietary inventions. 
However, in a notable reversal, Matter Labs publicly announced on X that they have decided to withdraw all trademark applications for the term “ZK.” They attributed this decision to extensive community feedback and discussions, acknowledging the complexity of finding universally acceptable governance mechanisms. This step signifies a pivotal moment in balancing proprietary interests with community-driven innovation within the Ethereum ecosystem. 
The ZKsync Association amid all this have spurred up with a groundbreaking planned airdrop of 17.5% of the total ZK token supply, equating to 3.675 billion tokens, to early adopters of the ZKsync <a href="https://coingape.com/tag/ethereum-layer-2/" target="_blank" rel="noopener">Ethereum Layer 2</a> network. The team behind ZK Nation addressed some of the community’s concerns around the upcoming ZKsync airdrop. They clarified that simply meeting all seven eligibility criteria may not be enough. Real users who tend to take on more risk need to have maintained a reasonably sized average crypto balance over an extended period. 
The key factors they’re looking at are the total amount transferred to the ZKsync Era mainnet and how long those assets have been held in your wallet. So even if you technically check all the boxes, holding just a small amount for a short time likely won’t qualify you for receiving any of the airdropped tokens. The underlying formula seems to weigh long-term, committed users who have actively used and held funds on ZKsync. 
Also Read: <a href="https://coingape.com/bitcoin-price-risks-crashing-48k-says-analyst-who-predicted-crash-16k-in-2022/" target="_blank" rel="noopener">Bitcoin Price Risks Crashing To $48K, Says Analyst Who Predicted Crash to $16K in 2022</a> 
The post <a href="https://coingape.com/matterlabs-receives-backlash-from-zksync-chinese-community-heres-all/">MatterLabs Receives Backlash From zkSync Chinese Community, Here’s All</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

MatterLabs Receives Backlash From zkSync Chinese Community, Here’s All

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