LayerZero

when

Read

First Digital USD

zkSync

Crypto exchange Binance <a href="https://www.binance.com/en/support/announcement/zksync-zk-listing-will-be-further-postponed-bc803be2f9cf4419b0d5c74c00c1acbb?hl=en" target="_blank" rel="">announced</a> the listing of Zksync (<a href="https://crypto.news/tag/zk/" target="_blank" rel="">ZK</a>) trading pairs and a token distribution program aimed to alleviate community concerns about the token airdrop. 
Starting at 10:00 (UTC) on Jun. 17, the ZK token will be available for spot trading on <a href="https://crypto.news/tag/binance/" target="_blank" rel="">Binance</a> in pairs against Bitcoin (BTC), Tether (USDT), First Digital USD (FDUSD), and the Turkish Lira (TRY). 
The exchange encouraged users to deposit ZK for trading, with withdrawals becoming available the following day. Additionally, Binance <a href="https://www.binance.com/en/support/announcement/binance-will-list-zksync-zk-with-zk-token-distribution-program-d87a9b01d6634ad1a36d984cc54595ee" target="_blank" rel="">revealed</a> plans for a token giveaway program, intending to allocate 10.5 million tokens to approximately 52,000 users. 
To be eligible for the Binance ZK token distribution scheme, users must have conducted a minimum of 50 ZKsync Era transactions between February 2023 and March 2024, spread over at least seven different months during that period. Binance mentioned that those who obtained ZK tokens via the official ZK Nation airdrop program will also be ineligible. 
ZK will be given to eligible addresses on a first-come, first-served basis, with the first token airdrop scheduled for Jun. 25, according to Binance. 
 You might also like: <a href="https://crypto.news/coinbase-proposes-new-blockchain-adoption-metric-to-combat-airdrop-related-distortions/" rel=""> Coinbase proposes new blockchain adoption metric to combat airdrop-related distortions </a> 
The exchange acknowledged in its statement that the community has “ongoing concerns” over ZK token distribution, which was first revealed by the ZKsync Association last week. The community’s reaction to the ZK listing varied across social media, with some labeling the ZKsync initiative a “scam.” 
The mentioned criticism seems to <a href="https://crypto.news/zksync-faces-community-backlash-over-lack-of-anti-sybil-measures-in-zk-airdrop/" target="_blank" rel="">arise</a> from the airdrop program’s lack of safeguards against Sybil attacks, which occur when someone creates a large number of fake accounts to obtain more tokens while farming the airdrop, making it harder to spread tokens evenly. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 zkSync airdrop is out. Most farmable and farmed airdrop ever probably. Almost no sybil filtering as far as I can see. Anyone who knew the criteria could've easily farmed the shit out of it. Makes you appreciate what LayerZero is trying to do with sybil filtering.— Mudit Gupta (@Mudit__Gupta) <a href="https://twitter.com/Mudit__Gupta/status/1800450339298271236?ref_src=twsrc%5Etfw" target="_blank" rel="">June 11, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
Polygon’s chief information security officer, Mudit Gupta, also criticized the ZKsync airdrop following the ZKsync Association’s announcement, <a href="https://x.com/Mudit__Gupta/status/1800450339298271236" target="_blank" rel="">describing</a> it in an X post as the “most farmable and farmed airdrop ever.” 
In reaction to the uproar, the ZK team reaffirmed its commitment to the planned approach, addressing queries in a FAQ section to assuage key concerns. 
Meanwhile, the Seychelles-based crypto exchange <a href="https://crypto.news/tag/kucoin" target="_blank" rel="">KuCoin</a> also announced the listing of the same Zksync (ZK) trading pairs starting at 8:00 (UTC) on Jun. 17. KuCoin users can deposit ZK in preparation for trading, with withdrawals enabled starting at 10:00 (UTC) on Jun. 18. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 https://twitter.com/kucoincom/status/1802528154088820855 
 </div>
</figure> 
 Read more: <a href="https://crypto.news/not-drops-55-as-airdrop-farmers-sell-off-post-exchange-launch/" rel=""> NOT drops 55% as airdrop farmers sell off post-exchange launch </a>

Binance lists Zksync (ZK) with token giveaway amid airdrop controversy

crypto.news

Other articles published on Jun 17, 2024

Polygon and Avalanche Decline Spurs Investor Interest in Qubetics Whitelist

Top Meme Coins To Buy Today, Sunday, June 16 – Blur, Snek, PitBull, Dogeverse

MoonBag Emerges Top Crypto Presale in June 2024 Amidst Cosmos and Immutable X Struggles

MicroStrategy Boosts Bitcoin Holdings Amid Market

Ethereum Foundation Moves $64.4 Million Worth Of ETH, Is This A Dump?

Crypto-Friendly Ex-Speaker Pushes for U.S. Stablecoin Legislation

Join our free newsletter for daily crypto updates!