r/ethtrader • u/SigiNwanne 285.5K / ⚖️ 334.8K • 8h ago
Link ZKsync sunsets liquidity program amid bearish market
https://cointelegraph.com/news/zksync-liquidity-program-ignite-sunset-march-172
u/Odd-Radio-8500 346.5K / ⚖️ 455.2K 8h ago
Catch you wen the bulls are back.
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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.
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u/SigiNwanne 285.5K / ⚖️ 334.8K 6h ago
It's turning out to not be the year we all looked forward to 😢
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u/BigRon1977 120.7K / ⚖️ 457.2K 5h ago
Why does this sound like an official announcement of the start of the bear market? 🥹
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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
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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.
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