Binance Announces ZKsync (ZK) Listing

Binance Lists ZKsync (ZK) with New Trading Pairs and Launches Token Distribution Program. On June 17, 2024, Binance, the leading crypto exchange by trading volume, announced the listing of ZKsync (ZK) and the launch of a token distribution program. This new listing is part of Binance’s ongoing effort to offer users access to promising blockchain platforms and their tokens.

New Trading Pairs and Features

Starting June 17, 2024, at 8 AM UTC, Binance will introduce several new trading pairs for the ZKsync (ZK) token. The new pairs include ZK/BTC, ZK/USDT, ZK/FDUSD, and ZK/TRY. Users can start depositing ZK tokens in preparation for trading, with withdrawals available beginning June 18, 2024, at 8 AM UTC.

Interestingly, Binance has chosen not to charge a listing fee for ZK, making it more accessible to users. However, ZK will carry a “seed tag” designation, indicating that the token may experience high volatility and risk. This tagging system helps users navigate the often unpredictable cryptocurrency market.

ZK Token Distribution Program & Recent Developments

Binance is launching a token distribution program for ZK, running from June 17, 2024, to July 16, 2024. During this period, Binance will distribute a total of 10,500,000 ZK tokens to up to 52,500 eligible users. To qualify, users must have made at least 50 transactions on the ZKSync Era network between February 2023 and March 2024, spanning at least seven different months within that timeframe.

However, users who received ZK tokens from the official ZK Nation airdrop, or those with contract, exchange, or bridge addresses, are not eligible. To participate, qualifying users need to deposit a minimum of 0.02 ETH from whitelisted ZKSync Era addresses to Binance. The amount of ETH deposited does not affect the number of ZK tokens received. The initial airdrop is scheduled for June 25, 2024, and distribution will be on a first-come, first-served basis, with each eligible user ID receiving 200 ZK tokens.

Technical Delays in $ZK Deposits Ahead of Trading Launch

Binance has notified users about potential delays in deposits for $ZK tokens due to technical difficulties with their node infrastructure. The exchange’s technical team is actively working to resolve the problem and anticipates a prompt recovery before the scheduled start of trading.

According to Binance, once the block height aligns with the fix, deposits will be credited to users’ accounts accordingly. Despite these challenges, Binance assures users that successfully completed deposits are securely stored. They encourage users to stay informed through their official channels for further updates on the situation.

Conclusion

The listing of ZKsync (ZK) on Binance and the launch of the token distribution program mark significant developments for the crypto community. With new trading pairs, no listing fees, and a generous token distribution program, Binance is providing users with exciting opportunities to engage with the ZKsync platform. Despite technical delays, the exchange is committed to resolving issues and keeping users informed. As ZKsync joins Binance’s lineup, the crypto market can expect increased interest and activity surrounding this promising blockchain platform.

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