Matter Labs, the developer of
zkSync, has undergone multiple changes and faced several issues recently. This includes the significant layoffs of 16% of its team, addressing concerns over the controversial zkSync airdrop eligibility, and facing some security challenges such as the Avalanche discord compromise. Nevertheless, the company continues to expand with new partnerships such as its collaboration with
Chainlink Labs, offering
support for zkSync by Fireblocks, and extending zkSync in new mainnets like
Cronos zkEVM and
Aave. Furthermore, the company has rebranded with an ‘Elastic Chain’, anticipating to provide competition for Polygon’s AggLayer. The highly awaited zkSync airdrop took place with billions of ZK tokens distributed to eligible wallets; though some criticism ensued due to tech issues, Sybil backlash, and allegations of inadequate Sybil filtering. The zkSync token had a strong debut amidst the challenges with a market cap of $935M but faced a 20% price drop following the launch. Significantly, zkSync also hints at the introduction of a 'community-driven' governance system called
ZK Nation. Despite the controversies, adoption continues as platforms like PancakeSwap launch zkSync token reward initiatives, CoinW lists zkSync and Anchorage Digital providing institutional access to the zkSync ecosystem.
zkSync News Analytics from Tue, 12 Dec 2023 08:00:00 GMT to Wed, 11 Sep 2024 12:00:04 GMT -
Rating 2
- Innovation 6
- Information 5
- Rumor 4
