Binance Announces ZKsync (ZK) Listing, Heres All

Binance, the top crypto exchange by trading volume, is listing ZKsync (ZK) and launching a token distribution program for the project. ZK spot trading pairs will go live on June 17th at 8 AM UTC, expanding Binance’s lineup of supported cryptocurrencies. The listing goes to reflect Binance’s focus on offering users access to promising blockchain platforms and their tokens.

New Trading Pairs and Features

Binance is introducing several new trading pairs for the ZKsync (ZK) token. These include ZK/BTC, ZK/USDT, ZK/FDUSD, and ZK/TRY. Users can start depositing ZK tokens in preparation for trading, which will be enabled soon. Withdrawals of ZK will be available starting June 18, 2024, at 8:00 AM UTC.

Notably, Binance has decided not to charge a listing fee for ZK, making it more accessible to users. However, ZK will carry a “seed tag” designation from Binance. This label indicates that the token may experience high volatility and risk. Binance uses this tagging system to help users navigate the often unpredictable cryptocurrency market.

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ZK Token Distribution Program & Recent Developments

Binance is launching a token distribution program for the ZK cryptocurrency, running from June 17th to July 16th, 2024. During this period, they will distribute a total of 10,500,000 ZK tokens to up to 52,500 eligible Binance users. To qualify, users must have made at least 50 transactions on the ZKSync Era network between February 2023 and March 2024, spanning at least 7 different months in that timeframe.

However, users who received ZK tokens from the official ZK Nation airdrop, or those with contract, exchange, or bridge addresses, are not eligible. Qualifying users need to deposit a minimum of 0.02 ETH from whitelisted ZKSync Era addresses to Binance.

The amount of ETH deposited doesn’t affect the number of ZK tokens received. The initial airdrop is scheduled for June 25th, 2024 and its important to note that distribution is first-come, first-served, with each eligible user ID receiving 200 ZK tokens.

Technical Delays In $ZK Deposits Ahead of Trading Launch

Binance has notified users via their official platform that deposits for $ZK tokens may encounter delays. This issue stems from technical difficulties with their node infrastructure. The exchange’s technical team is actively working to resolve the problem and anticipates a prompt recovery before the scheduled start of trading.

According to Binance, once the block height aligns with the fix, deposits will be credited to users’ accounts accordingly. Despite these challenges, Binance assures users that deposits which have successfully gone through are securely stored. They encourage users to remain informed through their official channels for further updates on the situation.

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