ZKsync, a layer-2 network, has decided to end its Ignite Program, which provided liquidity rewards to users. The program will cease starting March 17th, 2025, as announced by the DeFi Steering Committee. This decision comes in response to bearish market conditions. The total value locked (TVL) on ZKsync has decreased by approximately 50% since January 30. Over the past month, the broader cryptocurrency market has experienced a correction, with bitcoin and ether losing 13% and 27% of their market caps, respectively. Additionally, ZKsync’s native token (ZK) has declined by 35% during the same period. In light of these market trends, ZKsync is shifting its focus to the Elastic Network, which consists of multiple chains within its ecosystem. This strategic pivot aims to ensure sustainability by tightening focus and optimizing spending.
TAXS – The Tax Slayer
@TaxSlayerMeme
·
44m ZKsync Sunsets Liquidity Rewards Program, Citing Bearish Market Conditions The blockchain has lost around 50% of total value locked since Jan. 30. https://coindesk.com/business/2025/03/14/zksync-sunsets-liquidity-rewards-program-citing-bearish-market-conditions…
CoinNews
@Coinnews_Guru
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28m ZKsync has announced the discontinuation of its Sunsets Liquidity Rewards Program, attributing the decision to the prevailing bearish market conditions.
ZKsync is discontinuing the Ignite Program, which provided liquidity rewards, due to unfavorable market conditions, effective
PutinWithTrump
@putinwithtrump
·
4h ZKsync is terminating its rewards program early due to market conditions that have prompted a more conservative approach to spending in the short to medium term.
#zksync #CryptoPump #CryptoRecovery
Nazoku.eth
@Nazo_ku
·
7h I am reposting the original text by
@DragonCrip
, translated into English without any modifications, about the ZKsync project.
A well-written post—accurate, timely, and on point.
This is a warning to two-faced projects that see the community as mere cash cows and sheeps.
“ZK
LANGERIUS
@langeriuseth
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42m ZkSync is ending its DeFi revival program.
They claim they’re doing it to allocate the funds for more useful purposes/times, but honestly, few people are left to build or use products
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