This week there were several major news stories that captured the attention of cryptocurrency investors and enthusiasts alike.
These developments are expected to have a significant impact on the cryptocurrency market and usher in an exciting time for decentralized finance (DeFi) and blockchain technology.
zkSync token airdrop and exchange listing
ZK Nation, the Ethereum layer 2 network zkSync governance system, announced that eligible users can receive a ZK token airdrop on June 17 at 07:00 UTC. Introduced on June 11, the ZK token is the native asset of zkSync.
With these tokens, token holders can propose and vote on protocol upgrades and pay network fees using zkSync's native account abstraction. Additionally, the community can advance ZK by introducing staking and other features through governance-driven protocol upgrades.
The total supply of ZK tokens is 21 billion, with 17.5% allocated to airdrops. Major exchanges such as Binance, HTX (Huobi), and KuCoin plan to list ZK on June 17.
Read more: What is zkSync ?
Renzo users anticipate key withdrawal date
Users of Liquidity Staking Token (LRT) Renzo (ezETH) will request withdrawals on June 17th or 18th. Renzo co-founder Lukasz Kozinski announced on Discord that he is finalizing the results of an audit of the project.
Users can request withdrawals after the EigenLayer storage period ends on the expected date. This move is very important for Renzo’s liquidity and user trust. It is also an important milestone for the protocol.
Deploying Synthetix V3 to Arbitrum
On June 15, derivatives liquidity protocol Synthetix announced on Twitter that V3 would be released on Arbitrum (ARB) next week. However, the Synthetix team did not specify an exact release date.
Synthetix's Arbitrum deployment plan was first introduced on March 12 through an enhancement proposal called SIP-367. On March 31, Synthetix Governance approved this proposal, paving the way for this important upgrade.
Implementing the core V3 system will allow Synthetix to build core contracts on Arbitrum, allowing users to LP various collateral types such as USDC, DAI, Ethereum (ETH), and ARB, while also providing Arbitrum native support for collateral. Stablecoins can be issued. Synthetix Perpetual Markets will be temporarily suspended at launch with no tradable markets.
Rocket Pool's Houston Upgrade: What to Expect
Rocketpool (RPL), a liquidity staking platform on the Ethereum network, will conduct its Houston Upgrade on June 17th. According to the official announcement, the Houston upgrade aims to eliminate dependency on third-party systems by introducing a fully on-chain DAO that manages the protocol, namely Protocol DAO (pDAO). Powered by RPL governance, pDAO is comprised of node operators who participate directly in the protocol and are invested in its success.
This upgrade will also introduce new features that will allow for more integrations and platform building on the protocol. These features include the ability to stake Ethereum on behalf of nodes and the new RPL withdrawal address feature. This feature also allows one party to supply ether for staking and another party to provide RPL without having to provide custody to the node operator.
Binance and Nigeria Legal Process
Nigeria's Federal Inland Revenue Service (FIRS) has withdrawn tax charges against Binance executives Tigran Gambarian and Nadeem Anjarwala. With this decision, Binance becomes the only defendant in this lawsuit .
However, Gambarian and Anjarwala are still named in the money laundering case filed by Nigeria's Economic and Financial Crimes Commission. The next hearing in the case is scheduled for June 19, according to an official statement.
Layer Zero’s scheduled token distribution
LayerZero Labs, developer of the interoperability protocol LayerZero, recently introduced the LayerZero Foundation. The foundation’s first tweet containing the date “06.20.2024” sparked speculation about a major announcement related to the upcoming token.
On June 14, LayerZero CEO Brian Pellegrino took to Twitter to share details about the approximate distribution of ZRO , LayerZero's native token . Pellegrino explained that 23.8% of the supply will go directly to the community and builders, with 8.5% distributed on day one.
“The majority of the remainder will be provided through a forward-looking [Request for Proposal] RFP for builders, with additional retroactive distributions every 12 months over the next 36 months,” Pellegrino added .
This deployment strategy aims to encourage active community participation and support the development of LayerZero's ecosystem. Pellegrino also provided detailed simulations of token distribution to ensure fair and broad participation.
Read more: LayerZero Explained: A Guide to Interoperability Protocols
Unlock SpaceID and other major tokens
Space ID, a universal decentralized identity protocol, will unlock over 78 million native ID tokens at 00:00 UTC on June 22nd. These tokens, valued at approximately $44.34 million, will be allocated to the Space ID Foundation and several sale round participants. This unlock corresponds to 18.23% of the token circulation.
Another notable token unlock event is PIXEL, with 54.38 million PIXELs, worth $19.66 million, scheduled to be unlocked at 10:00 UTC on June 19th. For more information on this week’s major cryptocurrency token unlocks, check out this article .
Cryptocurrency investors and traders will be watching this week's events closely as they have the potential to shape market sentiment and spur innovation in the industry.
Trusted
The information contained on the BeInCrypto website is published in good faith and for informational purposes only. Users are solely responsible for any consequences arising from their use of information on the website.
In addition, some contents are AI-translated English versions of BeInCrypto articles.
