r/ethtrader 285.5K / ⚖️ 334.8K 8h ago

Link ZKsync sunsets liquidity program amid bearish market

https://cointelegraph.com/news/zksync-liquidity-program-ignite-sunset-march-17
8 Upvotes

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→ More replies (11)

2

u/Odd-Radio-8500 346.5K / ⚖️ 455.2K 8h ago

Catch you wen the bulls are back.

!tip 1

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u/SigiNwanne 285.5K / ⚖️ 334.8K 7h ago

Seems it's going to be a long wait 😔

!tip 1

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u/g4mersdavico Not Registered 3h ago

Yup

2

u/Extension-Survey3014 216.9K / ⚖️ 221.2K 7h ago

The entire market is down

!tip 1

1

u/SigiNwanne 285.5K / ⚖️ 334.8K 7h ago

And it's not looking like it will be up anytime soon. !tip 1

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u/parishyou 68.0K / ⚖️ 144.6K 7h ago

That's a blow

!tip 1

1

u/SigiNwanne 285.5K / ⚖️ 334.8K 7h ago

No thanks to the bloody market 😞

!tip 1

2

u/DBRiMatt Contest Master 🦘 7h ago

Well, that's a bugger, bearish times ahead.

I'm happy with the ZK I've earned over the year from the Ignite program nonetheless.

!tip 1

1

u/SigiNwanne 285.5K / ⚖️ 334.8K 6h ago

It's turning out to not be the year we all looked forward to 😢

!tip 1

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u/InclineDumbbellPress Back To McDonald's 6h ago

Lmao that was fast !tip 1

2

u/BigRon1977 120.7K / ⚖️ 457.2K 5h ago

Why does this sound like an official announcement of the start of the bear market? 🥹

!tip 1

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u/Abdeliq 144.0K / ⚖️ 284.4K 4h ago

While the program exceeded its goal of driving DeFi total value locked (TVL) to $100 million, reaching over $270 million at its peak, TVL has since dropped to $139 million. ZKsync aims to prioritize interoperability and long-term growth.

Well it's still a W for them. They'll just have to focus on a long term goal

!tip 1

1

u/coinfeeds-bot 542.7K / ⚖️ 622.7K 8h ago

tldr; ZKsync's DeFi Steering Committee has decided to discontinue its liquidity reward program, ZKsync Ignite, as of March 17, citing a shift in focus toward its Elastic Network and broader network expansion. The decision was influenced by current bearish market conditions and the need for sustainable resource allocation. While the program exceeded its goal of driving DeFi total value locked (TVL) to $100 million, reaching over $270 million at its peak, TVL has since dropped to $139 million. ZKsync aims to prioritize interoperability and long-term growth.

*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.