In response to the ongoing community concerns surrounding the ZK token airdrop, Binance has announced the listing of ZKsync (ZK) along with a token distribution program. The move is aimed at alleviating tensions and addressing the concerns of the community.

Binance’s ZK Token Distribution Program

Binance’s token distribution program is designed to distribute 10.5 million ZK tokens to an estimated 52,500 users who meet specific eligibility criteria. The program is open to users who have conducted at least 50 transactions on the ZKSync Era network between February 2023 and March 2024, with transactions spread across at least seven different months within this period.

Additionally, eligible addresses must not have received tokens from the official ZK Nation airdrop and must not be contract, CEX, or bridge addresses Eligible users can claim their tokens by depositing a minimum of 0.02 Ethereum (ETH) from an approved ZKSync Era address to Binance. The deposit size does not impact the quantity of ZK tokens awarded. Distribution will follow on a first-come, first-served basis, granting 200 ZK tokens per successful Binance User ID (UID) claim

Community Concerns

The community concerns stem from the airdrop program’s lack of measures to filter out Sybil attacks, where people create a large number of fake accounts to acquire more tokens while farming the airdrop tokens ⁵. The ZK team had earlier defended their approach but later acknowledged the community’s concerns.

Trading Pairs

Binance will list ZKsync (ZK) at 08:00 UTC on June 17, 2024, and open trading for the following spot trading pairs.

- ZK/BTC

- ZK/USDT

- ZK/FDUSD

- ZK/TRY

Users can start depositing funds in preparation for trading, and withdrawals will open at 08:00 UTC on June 18, 2024.

Risk Warning

ZK is a relatively new token and poses a higher than normal risk, and will likely be subject to high price volatility. Users are advised to exercise sufficient risk management and DYOR (do your own research) to fully understand the project before opting to trade the token.

In conclusion, Binance’s decision to list ZKsync (ZK) along with a token distribution program is a move aimed at addressing community concerns and promoting a more inclusive and fair distribution of tokens. The program is designed to reward active users who have contributed to the ZKSync Era network, and the listing of ZKsync (ZK) on Binance is expected to provide a boost to the token’s liquidity and trading activity.