Polyhedra Network has unveiled a temporary staking program valued at $1.13 million in USDT along with the introduction of Expander, an open-source zk-proof system that claims to be the fastest globally. The staking program, active until July 11, mandates participants to stake their ZKJ tokens for rewards in ETHFI, ID, and CYBER tokens. To qualify for a minimum reward of $100, participants must stake 1,000 ZKJ tokens, equivalent to around $1,110 in current market prices.
The announcement comes amidst a dispute involving Matter Labs, the creators of the zkSync layer-2 solution, where Polyhedra Network had a significant involvement.
Matter Labs had made a move to secure exclusive rights to the term “ZK”, despite its prior use by Polyhedra Network for their token. In response, Polyhedra Network rebranded its token to “ZKJ” and criticized Matter Labs for their actions, accusing them of unethical behavior. Matter Labs eventually withdrew their trademark application under community pressure.
Polyhedra Network, in line with its commitment to advancing zero-knowledge (zk) technology, launched Expander as an open-source zk-proof system that promises exceptional speed on a global scale. By integrating classical interactive proofs with advanced polynomial commitment schemes, the system ensures transaction accuracy and consensus verification. Expander is designed for rapid processing and can be deployed across various devices and infrastructures, including mobile devices.
