Binance will be listing ZK token on June 17. Binance announces ZK token distribution program that allocate 10.5 million ZK tokens to zkSync users who are Binance customer starting on June 17

Binance has announced the listing of ZK token from zkSync and the opening of trading for ZK/BTC, ZK/USDT, ZK/FDUSD, and ZK/TRY spot trading pairs starting from June 17, 2024 at 08.00 (UTC).

 

ZKSync is an Ethereum Layer 2 scaling solution that utilizes EVM-compatible ZK-SNARK roll-up technology.

 

zkSync Era, ZKSync’s main blockchain, currently has $124 million TVL.

Binance has also initiated a ZK token distribution program to address community concerns related to the ZK token airdrop.

This program is designed to distribute 10.5 million tokens to up to 52,500 Binance users who meet specific activity criteria on the zkSync Era network.

To be eligible for the airdrop, users must have initiated at least 50 transactions on the zkSync Era network between February 2023 and March 2024, spanning a total of 14 months.

These transactions must have been conducted in at least seven distinct months within this period, excluding self-transfers.

Additionally, the claim address must not be associated with a contract, centralized exchange, or bridge, and should not have received ZKStnc from the official ZK Nation airdrop program.

The token distribution program will run from June 17 to July 16, 2024.

Eligible users must deposit a minimum of 0.02 ETH from the whitelisted addresses on the zkSync ERA network to Binance.com to claim the ZK tokens3. The distribution will be on a first-come, first-served basis3.

Binance ZK Token Distribution Program

Program Period: June 17, 2024 at 02:00 (UTC) - July 16, 2024 at 23:59 (UTC).

Binance offers 10,500,000 ZK tokens to up to 52,500 Binance users who meet all of the following criteria:

1. User has initiated a total of at least 50 transactions on ZKSync Era  between February 2023 and March 2024 (a total of 14 months).

2. Conducted transaction(s) in 7 distinctive months (between February 2023 and March 2024). Self-transfers are excluded.

3. The claim address was not eligible for ZK tokens from the official ZK Nation airdrop program.

4. The claim address is not a contract/CEX/bridge address.

How to Claim ZK Tokens from Binance

Eligible users must deposit a minimum of 0.02 ETH from the whitelisted address(s) on the ZKSync ERA network to Binance.com. (Please note: The ETH amount user deposit does not affect the amount of ZK tokens to be distributed.)

Only ETH deposited directly from the  following ZKsync active user whitelists are considered valid. Binance will also use these  addresses as reference for the distribution.

·        Whitelist batch 1

·        Whitelist batch 2

·        Whitelist batch 3

·        Whitelist batch 4

ZK tokens will be distributed to users on a first-come, first-served basis, provided that they have met all of the above criteria.

Binance will distribute 200 ZK to each Binance User ID (UID).

For example, if a user deposited 0.02 ETH from several addresses to the same UID, they are only eligible to claim ZK tokens from the Token Distribution Program once. Binance will only distribute 200 ZK tokens to the UID.

First token airdrop will begin from June 25, 2024.

This move comes amid widespread criticism of the official ZK token launch, which led to a significant drop in its total value locked (TVL) due to controversy over token distribution. The community expressed dissatisfaction with the allocation plan, particularly the lack of measures to prevent Sybil attacks.