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zkSync Mainnet All Set To Launch in October, Potential Airdrop Inbound



zkSync Mainnet All Set To Launch in October, Potential Airdrop Inbound
  • zkSync 2.0 is set to launch on October 28, and the team also revealed a public roadmap in the announcement.
  • The launch will bring multiple upgrades, including web3 compatibility, supporting Solidity and Vyper, more streamlined porting, and lower gas fees.
  • Crypto community members have been speculating that there will be an airdrop for a native token, though this has not been confirmed yet.

zkSync 2.0 is all set to launch on October 28, with Matter Labs announcing that it will launch to the mainnet in 100 days. The team also revealed the roadmap for the effort, which explains the individual stages that will take place until the mainnet launch.

Over the last year, we’ve been heads down working to scale Ethereum and accelerate its adoption.

Today, we’re happy to announce that zkSync 2.0 – the first zkEVM rollup – will be live on mainnet in 100 days.

Our public roadmap for the rest of the year: https://t.co/wRjxJGoQwN pic.twitter.com/FuttnPWxZY

— zkSync (@zksync) July 20, 2022

The effort is currently in the final stages of the testnet, with dynamic fees among the tasks that need to be completed. Some of the features of zkSync 2.0 include being EVM and web3 compatible, supporting Solidity and Vyper, more streamlined porting, and lower gas fees, among other things. Currently, users can trade on zkSync on the alpha testnet.

There has been some discussion on social media as to whether there will be an airdrop for a native token. The zkSynch tokenomics page online says that there will be a native token, so it’s clear that there will be an asset that users can trade with.



zkSync FAQ
The team confirming a token on its FAQ page: zkSync

However, what’s unclear is whether there will be an airdrop to accompany the developments. Crypto analysts and enthusiasts have been speculating in the affirmative regarding this, saying that wallets that remained active during previous phases of zkSynch are eligible for the airdrop.

Nevertheless, that remains speculation, though it isn’t out of the realm of possibility. A token would certainly gain the attention of the crypto market and could do very well.

How Would Users Be Eligible for zkSync Airdrops?

There are several protocols that have been built on top of zkSync, which might make users eligible for the potential airdrop. The community is speculating that a snapshot could be taken that would keep a record of all the users who have been active on the network.


Who will get the airdrop? (and this is speculation)

Probably wallets that remained active during previous phases of zkSync.

*Please note that the zkSync testnet was reset on August 31.

Perhaps the projects took a snapshot.

Being active could help!

— olimpio.lens ⚡️ (@OlimpioCrypto) September 29, 2022

There are also several protocols built on top of zkSynch, which may be conducting airdrops. One of these is Orbiter Finance, which is a cross-rollup bridge that can be used to bridge across different blockchains. Another platform is Phezzan Protocol, a perpetual DEX on zkSync 2.0. All of these protocols are conducting airdrops which users can take advantage of if they are active.

Phezzan Protocol’s roadmap hinting a possible airdrop: Phezzan

Airdrops have been making the headlines recently, most notably the ETHW token and the Optimism token. These free token drops to active users have also been popular, and even major DEXs like Uniswap have conducted airdrops. They are a popular way to reward active users and expand the network going at the same time.

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FTX’s Sam Bankman-Fried Knew More About Alameda Research Finances Than Let On: Forbes Report



FTX’s Sam Bankman-Fried Knew More About Alameda Research Finances Than Let On: Forbes Report
  • A report by Forbes reveals that Sam Bankman-Fried knew about Alameda Research’s financial dealings.
  • SBF previously denied being “deeply aware” of Alameda’s finances. 
  • The former FTX chief regularly shared documents related to Alameda with Forbes over the past 2 years. 
  • The report indicates that SBF was well aware of Alameda’s business activities. 

An exclusive report published by Forbes has shed light on information that is in contradiction with recent claims made by Sam Bankman-Fried, the man behind the bankrupt crypto exchange FTX. 

Sam Bankman-Fried was aware of Alameda’s finances

In an interview at the DealBook Summit, SBF claimed that he was surprised by how big Alameda’s position was, referring to the risky trades made by his quantitative trading firm. The disgraced CEO tried to avoid accountability for Alameda’s actions by claiming that he was not involved in its day-to-day operations. “Alameda’s finances I was not deeply aware of. I was only surface-level aware of Alameda’s finances” he claimed. 

However, the report by Forbes provides an insight into the discussions they had with SBF in order to calculate his net worth for their annual World’s Billionaires list. During these discussions, Bankman-Fried shared several details that indicated that he was in fact well aware of Alameda Research’s finances. 

In order to prove his net worth, SBF detailed some of Alameda’s major holdings and several transactions involving Solana and Serum tokens as well as the notorious FTT. Some of these details were shared as recently as August 2022. The level of information found in the documents shared by Sam Bankman-Fried suggested that he knew more about Alameda than he revealed during his controversial interview. The former FTX CEO included details about his quant trading firm’s funds along with its token holdings, which at the time included 53 million SOL, 176 million FTT, and more than 3 billion SRM. According to this, the value of his share of Alameda’s funds under management was $8.6 billion. 

FTX's Sam Bankman-Fried Knew More About Alameda Research Finances Than Let On: Forbes Report 11

While it is still unclear as to how involved Sam Bankman-Fried was in the day-to-day operations at Alameda Research, the detailed description of the trading firm’s finances shared by him suggests that he knew more than he let on. 

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Mike Novogratz’s Galaxy Digital might buy crypto custodian GK8 from Celsius



Mike Novogratz’s Galaxy Digital might buy crypto custodian GK8 from Celsius


  • Galaxy Digital won a bid to buy one of Celsius’s assets as part of bankruptcy proceedings for the crypto lender.
  • Mike Novogratz’s company will buy GK8, a custodial business that Celsius acquired over a year ago in November 2021.
  • The custodian plans to launch crypto trading and lending for institutional investors.

Galaxy Digital submitted a successful bid for GK8, a crypto custodial service listed as an asset by Celsius during the lender’s bankruptcy proceedings. Both entity did not disclose the acquisition sum at press time. 

GK8 was acquired by Celsius in November 2021 when the bull run was near its peak. Months after, the lender was crippled by slumped crypto prices and Terra exposure. Celsius paused withdrawals shortly after LUNA and UST imploded in May, before declaring bankruptcy in July,

CEO Mike Novogratz said in a statement that adding GK8 to Galaxy Digital’s businesses offers a key ingredient for growth. Novogratz also addressed concerns regarding possible conflict of interest from the deal, ensuring that “clients will have the option to store their digital assets at or separate from Galaxy”.

Adding GK8 to our prime offering at this pivotal moment for our industry also highlights our continued willingness to take advantage of strategic opportunities to grow Galaxy in a sustainable manner.

Galaxy will also expand its workforce by some 40 employees as part of the deal. The firm hopes to onboard blockchain developers and cryptographers to name a few.

Galaxy Digital scoops Celsius asset after $76.8 million FTX exposure 

The digital asset firm reported losses in Q3 earnings after weathering contagion from Terra’s $40 billion crash. Galaxy’s earning report also revealed exposure to the bankrupt crypto exchange FTX. 

EWN reported that Novogratz’s firm tried to withdraw $47.5 million of the total sum from FTX before Sam Bankman-Fried’s exchange froze withdrawals.  The company

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Coinbase Calls Out Apple For Blocking NFT Transactions On iOS



Coinbase Calls Out Apple For Blocking NFT Transactions On iOS
  • Coinbase has revealed that its latest app update was blocked by Apple.
  • Users of Coinbase Wallet iOS can no longer send NFTs.
  • Apple reportedly wants 30% of the gas fees levied on NFT transactions.
  • The exchange has warned that this will have a major impact on iPhone users that interact with NFTs.

Coinbase, the largest crypto exchange in the United States, has called out tech giant Apple Inc. for its monopolistic policies on commissions on NFT transactions. In a lengthy Twitter thread earlier today, Coinbase Wallet revealed that Apple had blocked its latest app release. The reason for this restriction is the gas fees associated with NFTs. Apple has reportedly claimed that the gas fees required to send NFTs need to be paid through their In-App Purchase system so that they can collect 30% on the fees. 

Coinbase: 30% commission not possible

The crypto wallet provider has clarified that the demands made by Apple are not possible to meet. The company has further alleged that Apple’s new policies are aimed at protecting their profits at the expense of consumer investment in NFTs. Additionally, this move also creates a hindrance in developer innovation across the crypto ecosystem. 

For anyone who understands how NFTs and blockchains work, this is clearly not possible. Apple’s proprietary In-App Purchase system does not support crypto so we couldn’t comply even if we tried.”

According to Coinbase, iPhone users that own NFTs stand to lose the most from Apple’s policy change. The policy will make it difficult for users to transfer NFTs. Coinbase has indicated that it is willing to work with the tech giant to find a solution. 

We hope this is an oversight on Apple’s behalf and an inflection point for further conversations with the ecosystem. @apple – we’re here and want to help

— Coinbase Wallet (@CoinbaseWallet) December 1, 2022

Apple’s de-facto ban on NFT trading

Apple has ignored repeated calls to exempt NFTs from its notorious 30% cut, which has been dubbed the “Apple Tax”. On 24 October 2022, the firm updated its App Store policy, which included guidelines for NFTs as well. This was the official nod from Apple for iOS apps offering in-app NFT buying and selling as well as minting, as long as the “Apple Tax” is paid.  

Per a report by The Information, Apple’s app store policies have had a direct impact on NFT startups. Due to these policies, NFT marketplaces don’t even consider selling through mobile apps, leaving a large portion of potential buyers untapped. According to Magic Eden’s co-founder and Chief Technology Officer Sidney Zhang, Apple’s commissions are the reason why her NFT startup has never offered buy and sell functions on its app. 

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