Binance Lists Zksync (ZK) with Token Giveaway Amid Airdrop Controversy

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A graphic depicting Binance's announcement of the Zksync (ZK) trading pairs and token giveaway program, set against a backdrop of cryptocurrency symbols.
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Binance Lists Zksync (ZK) Trading Pairs with Token Giveaway

Binance, the world’s largest crypto exchange with a userbase of over 25 million, has confirmed that Zksync (ZK) has been successfully listed, facilitating the concurrent token distribution plan aimed to resolve the redistribution of the recent airdrop.

Trading Pairs and Availability

The ZK token will be available for spot trading on the Binance Exchange at 10:00 (UTC) on June 17. ZK can be traded to BTC, USDT, FDUSD, and TRY. The institution has also suggested the deposit of ZK for trading, with the withdrawal becoming available the next day.

Binance Token Giveaway Program

Moreover, to enhance the existing trading mechanisms and allay the worries of the ZK community, Binance showed the loyalty token distribution plan. The firm has set aside 10.5 million ZK tokens to be divided among an estimated 52,000 users.

Eligibility Criteria

The culture of the Binance ZK token allocation necessitates that the applicants must have made at least 50 Zksync Era transactions from February 2023 to March 2024, along with a period of seven different months in that time frame. Moreover, the users should be very aware that those getting ZK tokens from the official ZK Nation airdrop program are not part of this contest.

First-Come, First-Served Basis

The rightful addresses of ZK tokens will be presented in the course of the token “airdropping” starting from June 25th and currently only the addresses that applied the fastest get the tokens. Besides, the platform stated that the first token airdrop will be on June 25.

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Community Reactions and Concerns

Concerns have been ongoingly be voiced by the community regarding the ZK token distribution that has been first issued by the Zksync Association last week. The social media has archived dittoed issues from one person who says this is a scam to others who say it is a brilliant start off.

The focus of the criticism is directed at the airdrop program, which according to the community, does not have the necessary measures in place to prevent Sybil attacks. The people who commit these attacks create a lot of duplicate accounts and then they steal the tokens, so the tokens are not distributed evenly.

Criticism from Industry Experts

Not only Mudit Gupta, the Chief Information Security Officer at Polygon Aritic Suman also criticized the ZKS airdrop. When he participated in an X post, he wrote it had the “most farmable and farmed airdrop ever”.

ZK Team’s Response

The ZK team, on the other hand, has unequivocally said that they are not stooping to the wave of pressure from the public and the process is going according to the outlined path. They denoted the frequently asked questions for both the critics and supporters who, according to failed u after every question marks, are only speculative critics.

KuCoin’s Listing of Zksync (ZK)

In the meantime, KuCoin, a crypto exchange based in Seychelles, is also announcing that the same Zksync (ZK) trading pairs are listed. The KuCoin users can deposit ZK for trading at 8: 00 (UTC) on June 17 and withdrawals can be started at 10: 00 (UTC) on June 18.

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