Additional Information on ZKsync Listing and Token Distribution
Binance, a leading cryptocurrency exchange, recently unveiled the listing of ZKsync (ZK) with an accompanying token distribution program, highlighting the introduction of new trading pairs like ZK/BTC, ZK/USDT, ZK/FDUSD, and ZK/TRY.
The ZKsync (ZK) listing on Binance, scheduled to go live today at 08:00 (UTC), brings a significant advancement in Ethereum Layer 2 scaling through the utilization of ZK-SNARK roll-up technology that is compatible with the Ethereum Virtual Machine (EVM).
Traders are encouraged to initiate ZK deposits to prepare for upcoming trading activities, with withdrawals set to commence from June 18, 08:00 (UTC), devoid of any listing fees.
In its official announcement, Binance introduced the Seed Tag for ZK, a classification assigned to cryptocurrencies perceived to exhibit higher volatility and risk levels compared to other digital assets. This labeling serves as a tool to assist users in making more knowledgeable investment decisions within the crypto space.
For users involved in Spot Copy Trading portfolios, integrating ZK pairs can be accomplished by enabling them in the Personal Pair Preference section of the Spot Copy Trading settings.
Binance ZK Token Distribution Program Details
The allocated timeframe for the ZK token distribution program spans from June 17, 02:00 (UTC) to July 17, 23:59 (UTC). Binance has earmarked 10.5 million ZK tokens for distribution to a maximum of 52,500 eligible users, subject to specific participation criteria.
Participation in the distribution program necessitates users to conduct a minimum of 50 transactions on ZKSync ERA within the period ranging from February 2023 to March 2024 (14 months), with transactions distributed across 7 distinct months, excluding self-transfers. Furthermore, eligible claim addresses should not qualify for ZK tokens from the ZK Nation airdrop program nor be associated with contract, centralized exchange (CEX), or bridge addresses.
Process of Claiming ZK Tokens from Binance
Eligible users seeking to claim ZK tokens from Binance are required to deposit a minimum of 0.02 ETH from whitelisted addresses on the ZKSync ERA network to Binance.com. Only ETH deposits originating from the active user whitelists specified by ZKSync will be acknowledged for the distribution process. ZK token allocations will be issued on a first-come, first-served basis to users adhering to the stipulated criteria, with each Binance User ID (UID) receiving 200 ZK tokens. The initial token airdrop phase is slated to commence on June 25.
Moreover, Bithumb, the second-largest cryptocurrency exchange in South Korea, has also publicized its intention to incorporate ZKSync within its trading platform, widening the accessibility and adoption of this cutting-edge technology among its user base.
