Along with a token distribution scheme meant to answer community complaints over the recent ZK token airdrop, leading Crypto Exchange Binance has revealed the listing of Zksync (ZK) trading pairs. Beginning today, at 10:00 (UTC), the ZK token will be accessible for spot trading on Binance versus Bitcoin (BTC), Tether (USDT), First Digital USD (FDUSD), and the Turkish Lira (TRY).
Binance has urged customers to deposit ZK for trading, with withdrawals scheduled for tomorrow. Furthermore, the trade revealed a token distribution campaign to transfer 10.5 million tokens to about 52,000 people.
To qualify for the payout, users must have conducted a minimum of 50 ZKsync Era transactions between February 2023 and March 2024 throughout at least seven separate months. Those who obtained ZK tokens via the official ZK Nation airdrop program will be disqualified.
With the initial token airdrop set for June 25, ZK tokens will be assigned to qualified addresses first come, first serve. Initially noted by the ZKsync Association last week, Binance admitted in its statement that the community had “ongoing concerns” concerning ZK token distribution.
Binance Faces Mixed Reactions Over Zksync Listing
Social media reactions have been divided. Some users call the ZKsync project a “scam” because of alleged flaws in the safeguards against Sybil’s attacks on the airdrop system. These assaults complicate fair distribution when people create bogus accounts to get more tokens.
Described in an X post as the “most farmable and farmed airdrop ever,” Polygon’s Chief Information Security Officer, Mudit Gupta, also questioned the ZKsync airdrop. The ZK team responded to the debate by stressing its dedication to the intended strategy and answering community questions in an extensive FAQ section.
Starting today at 8:00 (UTC), Seychelles-based Crypto Exchange KuCoin also revealed the listing of the identical Zksync (ZK) trading pairs in a related move. Users of KuCoin can make ZK deposits in advance for trading; withdrawals are allowed beginning on June 18 at 10:00 (UTC).
Binance and KuCoin want to offer strong trading platforms while attending to community concerns and guaranteeing a fair distribution of tokens as the Zksync (ZK) token continues to become popular.
