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ZK List and Top Market Impacting Crypto News This Week
This week, some major news caught the attention of investors and crypto enthusiasts.
These developments are expected to have a huge impact on the crypto market, marking an exciting time for decentralized finance (Challenge) and blockchain technology.
Airdrop and zkSync Token Swap Lists
ZK Nation, the zkSync governance system of the Ethereum layer 2 network, announced that eligible users can claim their ZK Token Airdrops on June 17 at 07:00 UTC. The ZK token, introduced on June 11, is the native asset of zkSync.
The token allows holders to propose and vote on protocol upgrades and pay network fees using zkSync’s native account abstraction. Additionally, the community can evolve ZK through governance-based protocol upgrades to introduce staking and other features.
The total supply of ZK tokens is 21 billion, of which 17.5% is allocated to airdrops. Top exchanges including Binance, HTX (Huobi) and KuCoinwill list ZK on June 17.
Learn more: What is zkSync?
ZK token distribution. Source: ZK Nation
Renzo users anticipate key withdrawal dates
Users of the liquid staking token (LRT) Renzo (ezETH) are set to request withdrawals on June 17 or 18. Lucas Kozinski, co-founder of Renzo, announcement on Discord as the team finalizes the audit results of their projects.
Users can request withdrawals after the EigenLayer custody period ends on any of the scheduled dates. This development is crucial for Renzo’s liquidity and user confidence. This also marks an important milestone for the protocol.
Synthetix V3 deployment on Arbitrum
June 15, Synthetix Derivatives Liquidity Protocol announcement via X (Twitter) that its V3 will be live Arbitration (ARB) next week. However, the Synthetix team did not specify the exact date of this launch.
The plan to deploy Synthetix on Arbitrum was initially introduced on March 12 via an improvement proposal called SIP-367. On March 31, Synthetix Governance approved this proposal, paving the way for this significant upgrade.
The implementation of the V3 base system will allow Synthetix to establish the base contracts on Arbitrum, allowing LP users different types of collateral like USDC, DAIEthereum (ETH) and ARB when creating a native Arbitrum stable coin against their guarantee. The Synthetix Perpetual marketplace will be suspended during initial deployment, with no tradable marketplaces.
Rocket Pool Upgrade in Houston: What to Expect
Rocket Basin (RPL), a liquid staking platform on the Ethereum network, implement their Houston upgrade on June 17. According to its official announcement, the Houston upgrade aims to remove reliance on third-party systems by introducing a fully on-chain system. DAO to govern the protocol, known as Protocol DAO (pDAO). The pDAO, driven by RPL governance, includes node operators participating directly in the protocol and invested in its success.
The upgrade will also introduce new features, allowing more integrations and platforms to be built on the protocol. These features include the ability to stake ETH on behalf of a node and a new RPL withdrawal address functionality. Additionally, this functionality allows a party to provide ETH for staking and another to provide the RPL without entrusting custody to the node operator.
Binance and legal proceedings in Nigeria
The Federal Inland Revenue Service (FIRS) of Nigeria has abandoned its tax charges against Binance executives Tigran Gambaryan and Nadeem Anjarwalla. This decision makes Binance the only defendant in this trial.
However, Gambaryan and Anjarwalla remained named in a money laundering case brought by the Nigerian Economic and Financial Crimes Commission. The official statement reveals that the next hearing of this case will take place on June 19.
Upcoming Token Distribution from LayerZero
LayerZero Labs, the entity behind the LayerZero interoperability protocol, recently introduced the LayerZero Foundation. The Foundation’s first tweet, bearing the date “06/20/2024”, sparked speculation about a major announcement related to its upcoming token.
On June 14, Bryan Pellegrino, CEO of LayerZero, shared details on the approximate amount distribution of LayerZero’s native token, ZRO, on Twitter. Pellegrino emphasized that 23.8% of the supply would go directly to the community and builders, of which 8.5% would be distributed on day one.
“The majority of the remainder will be paid over the next 36 months, with an additional retroactive distribution every 12 months, as well as prospective distributions. [request for proposals] Calls for tenders for builders », Pellegrino added.
This distribution strategy aims to actively engage the community and support the development of the LayerZero ecosystem. Pellegrino further provided detailed simulations of token distribution to ensure fair and broad participation.
Learn more: LayerZero Explained: A Guide to the Interoperability Protocol
SpaceID and other major token unlocks
Space ID, a universal decentralized identity protocol, will unlock over 78 million of its native token, ID, on June 22 at 00:00 UTC. These tokens, worth approximately $44.34 million, will be allocated to the Space ID Foundation and several participants in the sales round. This unlock represents 18.23% of the circulating supply of the token.
Another noteworthy token unlock event is Pixel (PIXEL), which will unlock 54.38 million PIXEL, worth $19.66 million, on June 19 at 10:00 UTC. Read This item for detailed information on the major crypto tokens unlocked this week.
Crypto investors and traders will be closely watching this week’s events, as they have the potential to shape market sentiment and drive innovation in the sector.
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