Blockchain
Binance Lists ZKsync (ZK) and Launches Token Distribution Program
Binance, the world’s largest cryptocurrency exchange by trading volume, announced the listing of ZKsync (ZK) and the launch of a ZK token distribution program. Second BinanceTrading for the new spot trading pairs will begin on June 17, 2024 at 08:00 UTC.
New trading pairs and list details
New spot trading pairs available for ZKsync (ZK) will include ZK/BTC, ZK/USDT, ZK/FDUSD and ZK/TRY. Users can begin depositing ZK in preparation for trading, with withdrawals scheduled to open on June 18, 2024 at 08:00 UTC. Binance has confirmed that there will be no listing fee for ZK.
The exchange also noted that ZK will be seed tagged, indicating high volatility and risk. This tag is part of Binance’s initiative to help users identify tokens that may experience higher price fluctuations.
ZKsync overview
ZKSync is an Ethereum Layer 2 scaling solution that uses EVM-compatible ZK-SNARK roll-up technology. This technology aims to improve the scalability and efficiency of Ethereum transactions while maintaining security.
ZK token distribution program
In addition to the listing, Binance is launching a ZK token distribution program that will run from June 17, 2024 to July 16, 2024. A total of 10,500,000 ZK tokens will be distributed to up to 52,500 Binance users who meet specific criteria:
- Users must have made at least 50 transactions on the ZKSync Era network between February 2023 and March 2024.
- Transactions must have occurred in at least seven distinct months within that period.
- The request address should not be eligible for ZK tokens from the official ZK Nation airdrop program and must not be a contract, CEX, or bridge address.
How to claim ZK tokens
Eligible users must deposit a minimum of 0.02 ETH from whitelisted addresses onto the ZKSync ERA network on Binance.com. The ETH deposit amount does not affect the number of ZK tokens distributed. ZK tokens will be distributed on a first-come, first-served basis, with each eligible Binance user ID (UID) receiving 200 ZK tokens. The first token launch will begin on June 25, 2024.
Important notes
Binance highlighted that ZK is a relatively new token with higher-than-usual risks and the potential for significant price volatility. Users are advised to conduct thorough research and exercise appropriate risk management before trading ZK tokens. To access tokens marked with a seed tag, users must pass the corresponding quizzes every 90 days on the Binance Spot and/or Binance Margin platforms.
Additional Information
Eligibility to trade for new trading pairs is subject to the user’s country or region of residence. Users in some restricted regions, including Canada, Cuba, Iran, and the United States, will not be able to trade the new pairs. The list of restricted countries may change based on legal and regulatory updates.
Binance reserves the right to modify or cancel the announcement at any time without notice. Users are encouraged to stay updated through Binance’s official channels.
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