Binance to List ZKsync (ZK) and Launch Token Distribution Program
Jessie A Ellis Jun 17, 2024 03:05
Binance announces the listing of ZKsync (ZK) and introduces a token distribution program starting June 17, 2024. Trading pairs include ZK/BTC, ZK/USDT, ZK/FDUSD, and ZK/TRY.
Binance, the world's largest cryptocurrency exchange by trading volume, has announced the listing of ZKsync (ZK) and the launch of a ZK token distribution program. According to Binance, trading for the new spot trading pairs will commence on June 17, 2024, at 08:00 UTC.
New Trading Pairs and Listing Details
The 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 set 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 the seed tag, which indicates high volatility and risk, will be applied to ZK. This tag is part of Binance's initiative to help users identify tokens that may exhibit higher price fluctuations.
ZKsync Overview
ZKSync is an Ethereum Layer 2 scaling solution that utilizes EVM-compatible ZK-SNARK roll-up technology. This technology aims to enhance the scalability and efficiency of Ethereum transactions while maintaining security.
ZK Token Distribution Program
Alongside 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 conducted at least 50 transactions on the ZKSync Era network between February 2023 and March 2024.
- Transactions must have been conducted in at least seven distinct months within this period.
- The claim address should not have been 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 on the ZKSync ERA network to 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 airdrop is scheduled to begin on June 25, 2024.
Important Notes
Binance has highlighted that ZK is a relatively new token with higher-than-usual risks and potential for significant price volatility. Users are advised to conduct thorough research and exercise proper risk management before trading ZK tokens. To access tokens marked with a seed tag, users must pass corresponding quizzes every 90 days on the Binance Spot and/or Binance Margin platforms.
Additional Information
Trading eligibility for the new trading pairs is subject to the user's country or region of residence. Users from certain 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 amend or cancel the announcement at any time without prior notice. Users are encouraged to stay updated through official Binance channels.
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