Binance to Introduce ZKSync with Additional Trading Pairs and Airdrop Initiative

Binance Prepares to Introduce ZKSync with New Trading Pairs and Airdrop Initiative


By Hongji Feng
Published on:
June 17, 2024 02:11 EDT
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Reading Time: 1 min


In an exciting development, Binance has revealed its plans to add ZKSync to its platform and kick off a ZK token giveaway program for eligible participants.
As per the recent announcement made by Binance, the exchange is set to debut ZKSync (ZK) and commence trading for the ZK/BTC, ZK/USDT, ZK/FDUSD, and ZK/TRY spot trading pairs on June 17.
New ZK Trading Pairs Coming to Binance on June 17
Users are now encouraged to deposit ZK tokens in advance to prepare for trading activities. Withdrawals are scheduled to go live at 08:00 (UTC) on June 18.
Additionally, Binance has outlined a token giveaway program that will be active from June 17 to July 16. The initiative aims to distribute 10.5 million tokens to a maximum of 52,500 Binance users who fulfill specific criteria based on their activity on the ZKSync Era network.
To be eligible for the airdrop, users must have initiated a minimum of 50 transactions on the ZKSync Era network between February 2023 and March 2024, covering a total of 14 months. These transactions must have been carried out in at least seven different months within this timeframe, excluding self-transfers.
Qualifying addresses for the airdrop must not have previously received ZKStnc from the official ZK Nation airdrop program. Furthermore, the claiming address should not be linked to a contract, centralized exchange, or bridge.
Criticism Surrounding the Official Airdrop Program
The launch of the official ZK token had previously sparked controversy and a noticeable decline in its total value locked (TVL). According to DeFiLlama, the TVL dropped to approximately $128 million as early users voiced their dissatisfaction with the distribution strategy.
The company had announced that 17.5% of the total 21 billion supply would be allocated to early users through a one-time airdrop. The plan outlined that 16.1% of the tokens would be reserved for the team, 17.2% for investors, and the remaining portion to support ecosystem projects.
Many early users viewed the distribution as unjust. They pointed out the low cap on maximum allocation as a major concern, contributing to ongoing discontent and backlash against the airdrop.
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