zkFair community charts bold future amidst impressive growth

abdelaziz Fathi

In an open letter to its community, Layer 2 blockchain platform ZKFair has provided an update on its progress and revealed a future roadmap following the launch of its mainnet 48 days ago. 

ZKFair is a Layer 2 scaling solution for Ethereum that uses zero-knowledge proofs to ensure a fully decentralized operation and community-driven profit sharing. It’s the first of its kind to aim for a decentralized network of provers—those who create cryptographic proofs for transactions, operating outside of the main blockchain.

The platform has quickly gained traction and achieved notable milestones, such as a Total Value Locked (TVL) surpassing $123 million within six days of launch, over $100 million refunded to users, and nearly 600,000 on-chain active addresses. 

The mainnet launch also saw a high engagement rate, with 97% of airdrops claimed manually within three days and over 200,000 addresses holding assets. Additionally, ZKFair connected to more than 10 top centralized exchanges (CEX) like Bybit, Kucoin, and Gate.io in a single day. On-chain staking has exceeded 3 billion ZKF, and the platform’s TVL has soared beyond $324 million, ranking it ninth among all L2s.

In their message, ZKFair highlighted the importance of community support in reaching these milestones and setting new standards in the industry. The letter outlined ZKFair’s strategic plans for the upcoming quarters, aiming to expand its ecosystem by collaborating with over 200 projects, particularly in the DeFi, gaming, and AI sectors. 

Initiatives for Q1 2024 include launching the ZKFair Launchpool, and partnering with SPACE ID for the .ZKF DID, and introducing interactive ZKFair PFP NFTs. The platform also plans to host large-scale ecosystem events and integrate with additional wallets and CEXs.

For Q2 and Q3 2024, ZKFair plans to further empower the platform through collaborations, such as with Lumoz RaaS’s new ETH L2, and to enable cross-chain transfers for BTC ecosystem assets. 

Overall, the platform aims to continue building its ecosystem, increase its presence on CEXs, and enhance cooperation with key players like Polygon Labs.

Despite the competitive landscape of L2 solutions and the challenges of ecosystem development, ZKFair said it remains committed to its original vision. The platform acknowledges the difficulties in attracting high-quality project parties and the mutual selection process in ecosystem deployment. However, the recent success of projects like FairStake and HyperionX in the Launchpool highlights the potential for growth and collaboration.

ZKFair’s letter stressed the need for community support to overcome challenges and achieve its ambitious goals, including a $10 billion target. The platform plans to complete the initial phase of ecosystem construction by the end of February, with plans to expand development and seek large-scale ecological partnerships. 

On December 20th, ZKFair officially unveiled its mainnet as a network built on Polygon CDK and Celestia DA, with technical backing from Lumoz RaaS.

ZKFair distinguishes itself as the first fair launch ZK-L2 network, designed to tackle challenges associated with high L2 valuations, multiple PUA, and high user participation thresholds. Operated entirely by the community, the network’s security and stability are further bolstered by audits conducted by several reputable audit firms.

The platform has a unique way of handling profits from transaction fees, distributing all of it back to its users and developers. Specifically, 75% of the earnings go to users who stake ZKFair’s own cryptocurrency, ZKF, and 25% is given to qualifying developers of decentralized apps (DApps).

 

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