ZKsync discontinues its liquidity rewards initiative Ignite to focus on expanding its network of ZK chains.
Conclusion of ZKsync Ignite
The ZKsync Ignite program will officially conclude on March 17, marking the end of its first season, with no rewards allocated for the final set period.
Decision to Focus on Elastic Network
The platform's DeFi Steering Committee emphasized the importance of Elastic Network development to achieve ZKsync's long-term goals. This aligns with the project's strategy to create a multi-chain ecosystem that enhances scalability and interoperability.
Market and Future Prospects for ZK
ZK tokens saw significant performance in 2024, peaking at $0.26, but have since faced selling pressure, declining to $0.06. Despite this, Ignite achieved its goal by boosting TVL to $270 million. Meanwhile, UBS completed a pilot project on the ZKsync Validium platform, confirming ongoing interest in this sector.
By ending Ignite, ZKsync aims to optimally allocate resources to sustain future growth and improve its Elastic Network.
