zkSync issues Token: it may give more to the ecology than other Layer 2

2022-11-17 11:34

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"2/3 potential future Tokens will be allocated to the zkSync ecosystem."

Original source: encrypted KOL wagame.eth

Original compilation: 0x711, 0x214, BlockBeats

Last night, zkSync development company Matter Labs announced the completion of $200 million in Series C financing, led by Blockchain Capital and Dragonfly, and participated by a16z, Variant, and Lightspeed Venture Partners. After the completion of this financing, its total financing has reached 458 million US dollars. At the same time, zkSync announced on its social platform that it will allocate two-thirds of the potential future Tokens to the zkSync ecosystem, and will try its best to ensure the transparency and fairness of the distribution.

That night, Steve Newcomb, Chief Product Officer of Matter Labs, participated in the Bankless podcast, and further elaborated on the future development of zkSync, encryption KOL wagame.eth The following content has been organized and translated by BlockBeats as follows:

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This article will not repeat the content that zkSync’s official Twitter has released, but only organizes and briefly summarizes the content revealed by Steve Newcomb in the Bankless podcast analyze.

1. First of all, this announcement is not a Token issuance announcement, but just a financing announcement, which is officially called "Fair Raise". In this regard, wagame.eth believes that the entry condition for new investors should be to ensure the issuance of Token ZKS. This decision will be made by zkSync officials, and two-thirds of the allocation to the ecosystem will be a certainty.

Steve compares the two-thirds distribution to the StarkNet distribution. Oddly, he also compared with Arbitrum's Token allocation, saying that Arbitrum will have 50% of Token allocated internally. But Arbitrum officials have never even made it clear that they will issue Tokens. I don’t know if this is a slip of the tongue by Steve, or a slip of the tongue...

BlockBeats note, on November 10th, the StarkNet Foundation announced its establishment and will hold 50.1% StarkNet Token.

Additionally, Steve stated that the team wants to be transparent with regards to lock-up and unlock terms for current investors. The team does not want Token prices to skyrocket and plummet, and will try to avoid this situation as much as possible. "Everyone here is practicing long-termism."

2. The team has no timetable for updating the mainnet, which is not much different from what we know . You can click on the previous tweet link to view.

Steve also gave the community another shot in the arm by reiterating that there will be multiple reviews before Fair Launch.

3. zkSync code will be open source from Fair Launch. This is in stark contrast to their competitors: Polygon's code is copyrighted, while Starknet's code is not forkable. Open source is zkSync's survival decision, dictated by its vision. "The way you use your code says a lot about who you are."

< b>4. Layer3 (enterprise-level blockchain) proof of concept: Opportunity will be launched in the first quarter of 2023. zkSync is currently negotiating with many mainstream, well-known brands. Unlike 6 months ago, these companies view Ethereum as the most trusted blockchain and want to make a move on zkSync.

BlockBeats Note: On October 31, zkSync developer Matter Labs stated that it is developing Layer3 Blockchain Opportunity to further improve the scalability of the zkSync blockchain infrastructure. Matter Labs stated that Opportunity will be an additional off-chain computing layer on the zkSync network, designed to help improve the scalability of Ethereum and reduce Gas costs.

In short, even if there is no announcement about Token, the above information can be regarded as good news for zkSync . When finally launched, the ZKS Token distribution will reflect the larger goals of the project: they are not a company, they are an ecosystem supporting Web3 adoption and Ethereum.

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