ZKFair Highlights Achievements a Month After the Mainnet Launch

Twitter icon  •  Published vor 2 Monaten  •  Hassan Maishera

The ZKFair team has revealed its various achievements since its mainnet launch a few weeks ago and the remaining milestones it intends to reach.

The ZKFair team has revealed some of its achievements since its mainnet launch a few weeks ago. According to the team, the mainnet is online and running smoothly, the Gas fee Airdrop has been successfully concluded, ZKFair's TVL has soared to 324 million US dollars, ZKF tokens were launched 10+ exchanges in one day, Gas fee profit dividends were launched, the total ZKF staking amount exceeded 2.6 billion, 75% of Gas fee profits have been divided among 4W+ ZKF stakers, and the .zkf domain name service will be launched soon.

Here are some of the achievements and latest updates from the ZKFair team. 

100% Fair Launch

The team revealed that the ZK ecosystem currently faces challenges such as overvaluation, lack of participation for ordinary users, high entry barriers, and monopolization by VCs.

With user participation often subject to PUA (pump-and-dump) tactics, ZKFair aims to create a fair and fully community-driven ZK L2 network. The team adopted a 100% fair launch model, where 25% of the tokens were airdropped to users who have interacted with networks like Polygon zkEVM, ZKSpace, zkSync, Linea, Scroll, and holders of Lumoz loyalty points over the past two months. The remaining 75% of the tokens were distributed to the ZKFair community through Gas fee Airdrops.

ZKFair Currently Ranks 9th on the L2 Leaderboard

ZKFair has also reached a new milestone, becoming the ninth-largest Layer-2 blockchain in terms of total value locked (TVL) on the network. On December 26th, the team announced the official conclusion of the gas fee Airdrop, with the on-chain TVL reaching $123 million. The total number of participants in the campaign exceeded 200,000, and the total gas consumed surpassed 100 million USDC.

Since then, the on-chain TVL has continued to soar. According to L2Beat data, ZKFair's on-chain TVL reached a peak of $324 million. While it has slightly retraced since then, it still surpasses Linea with a TVL of $270 million, securing the 9th position on the L2 leaderboard.

ZKF Token Listed on Bybit, Gate, Bitget, and 10+ Other Exchanges Within a Day

Another achievement is that the ZKF token has been listed on Bybit and a few other leading cryptocurrency exchanges within a day. The total supply of ZKF tokens is 10 billion, with 2.5 billion being fairly airdropped to L2 community users, and the remaining 7.5 billion being distributed through Gas fee airdrops. 

On January 1, 2024, users were able to claim their ZKF tokens. On January 11, the team burned the unclaimed 130 million ZKF tokens and committed to no longer mint any additional ZKF tokens in the future.

On January 5, the ZKF token was listed on more than 10 exchanges, including Bybit, Kucoin, Bitget, Gate, HTX, MEXC, and BitMart. This made it possible for ZKF to be accessible to millions of investors and also enhanced ZKFair's recognition and liquidity in the market.

L2 Gas Fee Profit Sharing Launched

On January 10th, the ZKFair team officially launched the ZKF staking feature. Since then, over 2.6 billion ZKF tokens have been staked, accounting for 26% of the total token supply. 

The number of unique staking addresses has exceeded 40,000. The development team revealed that these users will share 75% of the total profit according to the corresponding rules, while the remaining 25% will be allocated to DApp developers. 

At the moment, all ZKF stakers can check their earnings in real-time through the Stake page on the ZKFair official website.

Regarding the Future: The $10 Billion Target Remains in Play

Despite the recent achievements, the ZKFair team believe that there is still much to be accomplished and realized in the future. The $10 billion target is not a mere fantasy but a well-considered and practical goal. Here are the plans on how the team intends to achieve this milestone: 

  • The stake feature has been launched and there has been an increase in staking volume. Furthermore, the USDC rewards that have already been distributed demonstrate the community's strong approval of the L2 Gas fee profit-sharing model. 

  • ZKFair will also support cross-chain integration of BTC L2 assets in the future. The technical team is working to make this happen. 

  • Finally, the team intends to establish an on-chain ecosystem. At the moment, more than 100 projects have applied to join the ZKFair ecosystem. In addition to that, ZKFair has announced a partnership with SPACE ID to launch .zkf domain name services, and the whitelist activity for this service has already begun. Leading NFT project Element has also announced its successful deployment on ZKFair, and joint NFT issuance is currently being prepared.

The team said they are actively engaging with projects that have deployed or expressed interest in deploying on ZKFair to discuss the feasibility of the Fair mode. ZKFair has already launched the Fair Launchpad application, and high-quality projects will have the opportunity to complete their early-stage launches with 100% Fair Launch and undervalued valuations. These projects will empower the ZKF ecosystem, thereby bringing more benefits to all ZKF users.

The ZKFair team is also actively communicating with projects in various promising sectors, such as AI infrastructure, AI agents, games, DeFi protocols, Depin, Bitcoin Ordinals, Bitcoin Layer2, ZK Applications, and web3-powered consumer apps. 

Finally, the team assured community members that they would work with them to accomplish all the goals listed in this article.

 

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.