March 15, 2025
Zksync has curled up Ignite rewards through "bear market" thumbnail
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Zksync has curled up Ignite rewards through “bear market”

The Tao, which stands for ZKSYNC, has completed the Ignite Rewards Program from March 17, referring to the bear conditions on the bear. ZKSYNC IGNITE PROGRAM UPDATE 📣 After Careful Consideration, The DEFI Steering Committee (DSC) HAS DECIDED TO NOT RENEW IGNITE FOR SEASON Rewards for Period 6 Here’s Who’s: […]”, – WRITE: Businessua.com.ua

Zksync has curled up Ignite rewards through

The Tao, which stands for ZKSYNC, has completed the Ignite Rewards Program from March 17, referring to the bear conditions on the bear.

ZKSYNC IGNITE PROGRAM UPDATE 📣

After careful Consideration, The Defi Steering Committee (DSC) Has Doneed to Not Renew Ignite for Season 2 And Will Be Sunsetting The Program Starting March 17th, 2025 by Turning Off Reads for 6.

HERE’S WHY:

– ZKSYNC IGNITE (@ZKSYNCIGNITE) MARCH 13, 2025

After this distribution of new incentives is not planned. The payments for all contracts with service providers will be made by March 30.

As part of Ignite, it was planned to distribute 300 million ZK to stimulate liquidity. There have been two nine months of nine months.

ZKSYNC has curled up Ignite rewards through

Daily ZK/USDT Stock Exchange: TradingView.

The Defi Project executive committee named three reasons for the premature completion of the initiative:

  • Focus on Elastic Chain. The team intends to focus resources on the implementation of the protocol. Ignite has provided ERA with a liquidity to work as its HABA for Defi after starting the mechanism of interoperability. Adding additional funds to the focus program on one network “no longer meets this broad purpose”.
  • Own time of interaction. Seamless internal compatibility in Elastic Chain is a priority, but the technology required for its implementation requires more time than expected. Adding more TVL Now it will reduce the return on costs.
  • Market realities. The team stated the onset of the bear market. The developers have decided to maintain a more conservative approach to the short and medium term costs.
  • In 2021 and 2022, ZKSYNC raised $ 450 million in investments.

    In September 2024, CEO of Matter Labs, which is behind the protocol, Alex Glukhovsky announced the reduction of staff by 16%.

    In June, the project conducted an Airrope 3.6 million ZK tokens. After large -scale distribution, the key performance decreased significantly.

    Recall that in December it became known about Deutsche Bank to launch L2 for Ethereum using the ZKSYNC stack.

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