ZKSync, a layer-2 scaling solution for Ethereum, recently announced the launch date for its token, ZK. The distribution of the ZK token caused controversy among early users of the protocol, with some questioning the fairness of the distribution. The project disclosed that 17.5% of the total 21 billion supply would go to its community, while the team and investors would receive 16.1% and 17.2% respectively. The rest of the supply would be distributed over time through ecosystem initiatives.
Despite the project’s explanation of how the distribution was determined, some early users expressed dissatisfaction with the allocation. The Total Value Locked (TVL) of ZKSync also dropped significantly, falling from almost $200 million to $133.03 million. This decrease in TVL indicated that users were withdrawing their assets from the protocol.
There have been predictions about the potential market cap of the ZK token, with some speculating that it could reach $1 at launch. However, the current trading price of the token on Whales Market is $0.34. The controversy surrounding the distribution of the ZK token and the decrease in TVL have raised questions about the future performance of the project.
Overall, the ZKSync token launch has sparked debate within the crypto community, with some users expressing dissatisfaction with the distribution of the ZK token. The project’s TVL has also experienced a significant drop, indicating a loss of trust among participants. Despite predictions of a $1 launch price for the ZK token, the current trading price on Whales Market is $0.34. The future of ZKSync remains uncertain as it navigates through these challenges.
Discussion about this post