Crypto Fair Launch: ZKFair to Usher New Era of Fair Token Launches and Tackles Challenges in the ZK Ecosystem - TechStartups

Crypto Fair Launch: ZKFair to Usher New Era of Fair Token Launches and Tackles Challenges in the ZK Ecosystem – TechStartups

Time Stamp: January 23, 2024 1:57 PM
Source Node: 3080856

In the seemingly egalitarian world of cryptocurrency, the distribution of new tokens often leans towards favoring private investors, token founders, and those with privileged information about upcoming crypto investments. This disparity is evident in popular coin distributions, where large portions of decentralized networks are reserved for early investors or founders, leaving the general public with a second-tier status. That’s why ZKFair is on a mission to address these issues and revolutionize the landscape.

ZKFair is a zero-knowledge, proof-based Layer 2 platform that aims to complete decentralization and revenue sharing with its user community. The platform’s goal is to introduce an era of token launches that are fair, equitable, and secure. Notably, ZKFair completed its token distribution on January 11, 2024, marking a significant step towards a future where participation in high-quality token launches is accessible to anyone, anywhere.

The innovative Zero-Knowledge (ZK) Rollups technology employed by ZKFair ensures swift transactions, minimal fees, and complete anonymity. This technology levels the playing field by eliminating the advantages previously enjoyed by large investors and automated bots during token launches – a stark departure from the chaotic and manipulative practices witnessed in the crypto space.

ZKFair goes beyond speed and cost-efficiency; it aims to democratize access and build trust. The platform eradicates information asymmetry and privileged insider deals, providing transparent and verifiable mechanisms that ensure everyone has equal access to information and opportunities. The launch of ZKFair’s Mainnet late last year marked a crucial milestone in this mission.

Since the completion of its launch a month ago, ZKFair has achieved notable milestones including the operationalization of the Mainnet and the successful completion of the Gas Fee Airdrop. In addition, the ZKFair’s Total Value Locked (TVL) surged to $324 million. ZKF tokens were swiftly listed on over 10 exchanges in a single day, demonstrating the platform’s market recognition. Gas fee profit dividends have been initiated, with over 2.6 billion ZKF tokens staked and 75% of Gas fee profits distributed among more than 4,000 stakers. The upcoming launch of the .zkf domain name service adds another layer to ZKFair’s commitment to innovation and inclusivity.

 In a recent update to its community, the team shared the story of ZKFair’s journey and plans for the future. The move is to confront the unfairness and pump-and-dump tactics prevailing in the ZK ecosystem and serve as a beacon of fairness and community-driven innovation. This piece delves into the milestones achieved by ZKFair, highlighting its commitment to fairness, remarkable TVL growth, successful token listings, and innovative features like L2 Gas Fee Profit Sharing.

1. A Fair Launch for a Community-Driven ZK L2 Network

ZKFair took a stand against challenges such as overvaluation and lack of user participation by adopting a 100% fair launch model. A quarter of the tokens were airdropped to users engaging with various networks, while the remaining 75% were distributed to the community through Gas fee Airdrops. The response from early users and advocates has laid a solid foundation for ZKFair’s development.

2. ZKFair Ranks 9th on the L2 Leaderboard with $324 Million TVL

With a historic breakthrough in on-chain TVL, ZKFair achieved a peak of $324 million, securing the 9th position on the L2 leaderboard. The Gas Fee Airdrop campaign garnered massive participation, with over 200,000 contributors and a total gas consumption exceeding 100 million USDC.

3. Rapid Listing on 10+ Exchanges and Token Burn

ZKF, the official token of ZKFair, saw a rapid listing on more than 10 exchanges, including Bybit, Kucoin, Bitget, Gate, HTX, MEXC, and BitMart. This listing not only expanded ZKFair’s reach but also enhanced its recognition and liquidity in the market. Additionally, ZKFair burned unclaimed tokens, demonstrating a commitment to the project’s integrity.

4. L2 Gas Fee Profit Sharing and ZKF Staking

ZKFair introduced Gas fee profit sharing through ZKF staking, with over 2.6 billion tokens staked, constituting 26% of the total supply. Over 40,000 unique staking addresses will share 75% of the total profit, fostering community engagement and providing an innovative approach to incentivize users.

5. Future Plans: A Practical $10 Billion Target

Looking ahead, ZKFair has ambitious plans, including supporting cross-chain integration of BTC L2 assets and establishing an on-chain ecosystem. Partnerships with projects like SPACE ID for .zkf domain name services and collaborations with NFT projects like Element underscore ZKFair’s commitment to a diverse and thriving ecosystem.

ZKFair’s journey, from a fair launch to a dynamic and community-centric ecosystem, reflects its dedication to achieving the seemingly impossible dream. Upholding the belief that “Without users, we are nothing,” ZKFair invites the community to join hands in shaping the future of this innovative L2 network.

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