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What currency does ZKsync (ZK) belong to?
ZK is the native utility token of the ZKsync blockchain, used for transaction fees, governance, and staking.
Dec 07, 2024 at 02:01 am
What Currency Does ZKsync (ZK) Belong To?
Introduction
ZKsync is a zk-rollup scaling solution for Ethereum, and its native utility token is ZK. The ZK cryptocurrency is used to pay for transaction fees on the ZKsync network, as well as to participate in governance and staking.
ZK Currency Overview
- Ticker Symbol: ZK
- Blockchain: ZKsync
- Use Cases: Transaction fees, governance, staking
- Total Supply: 1 billion
- Circulating Supply: 255 million
How to Acquire ZK
- Purchase on cryptocurrency exchanges: ZK can be bought and sold on crypto exchanges such as Binance, Huobi, and Coinbase.
- Earn through liquidity mining: Users can earn ZK by providing liquidity to DEXs (decentralized exchanges) on ZKsync.
- Receive as a reward: ZK can be earned as a reward for staking ZKsync tokens or participating in governance activities.
ZK Token Distribution
- Team: 15%
- Advisors: 5%
- Strategic investors: 10%
- Foundation: 15%
- Community airdrop: 10%
- ZKsync users: 45%
ZK Tokenomics
- Transaction fees: ZK is used to pay for transaction fees on the ZKsync network. These fees are used to reward validators and maintain the network's security.
- Governance: ZK holders can participate in governance decisions and vote on proposals to shape the future of the ZKsync network.
- Staking: ZK can be staked in a staking pool to earn rewards. Stakers help to secure the network and validate transactions.
Conclusion
ZK is the native utility token of the ZKsync blockchain, a zk-rollup scaling solution for Ethereum. ZK is used for transaction fees, governance, and staking, and its tokenomics are designed to incentivize network participation and secure the protocol.
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