Binance initiating the registration of its ZKsync (ZK)

Binance, the biggest cryptocurrency exchange globally, has initiated the registration of its ZKsync, along with the introduction of a ZK token allocation scheme. Trade, about the latest spot trading pairs, is slated for the 17th of June, 2024. 

The spot trading pairs which are accessible to ZKsync, will comprise ZK/BTC, as well as ZK/USDT, ZK/FDUSD, and ZK/TRY. Users will be provided the option of making their deposits of ZK for trade. ZK will not be charged any registration fee. 

In the case of the seed tag, signifying a high level of disturbance and threats will be applicable for ZK. Through this, users will be enabled to seek out tokens coming with added price differences. 

ZKsync is basically an Ethereum layer 2 upgrading service using EVM adaptable ZK-SNARK rollup technology. The technology intends to bring about improvements made on factors related to the upgradability and effectiveness of Ethereum based transactions. 

Along with the registration, Binance is introducing a ZK token allocation scheme to commence from the 17th of June, till the 16th of June, 2024. A figure of 10,500,000 ZK tokens will duly be allocated to 52,500 users of Binance, upon meeting certain factors. These include them having carried out a minimum of 50 transactions on the ZK sync Era network. Added to that, the transactions should have been carried out in seven separate months, along with the claim address not being a part of the ZK Nation airdrop scheme, nor a contract, CEX, or bridge address.  

It is necessary for deserving individuals to deposit 0.02 ETH to Binance.com from addresses that are whitelisted on the ZKsync ERA network. The deposited ETH will not influence the amount of ZK tokens allocated. Every Binance selected user will come in for 200 ZK tokens. The initial token airdrop is slated for the 25th of June, 2024. 

Binance has emphasized taking certain precautions while dealing with the ZK tokens. 

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Users belonging to Canada, Cuba, Iran, and the US, will not be permitted to indulge in the trading of the new pairs.

Harsh Chauhan

Harsh Chauhan is an experienced crypto journalist and editor at CryptoNewsZ. He was formerly an editor at various industries and has written extensively about Crypto, Blockchain, Web3, NFT and AI. Harsh holds a Bachelor of Business Administration degree with a focus on Marketing and a certification from the Blockchain Foundation Program. Through his writings, he hold the pulse of rapidly evolving crypto landscape, delivering timely updates and thought-provoking analysis. His commitment to providing value to readers is evident in every piece of content produced.

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