The decentralized exchange ZKSwap announced the launch of liquidity mining (Proof of Liquidity Mining, PoL) and transaction-fee mining (Proof-of-TransFee Mining, PoT). The total reward pool will be 9 million ZKS. as reported in ZKSwap’s blog.
\n\n
PoL and PoT will start on March 6 at 13:00 (MSK) and run for 14 days. ZKSwap will distribute 8 million ZKS in PoL and 1 million ZKS in PoT.
\n\n
ZKSwap runs on a ZK-Rollups-based second-layer scaling solution for Ethereum. In February, the exchange conducted an airdrop of 80 million ZKS tokens.
\n\n
According to ZKSwap representatives, the ZKS token plays a key role in incentivising users on the platform. ZKSwap will distribute more than 60% of ZKS’ issuance to community participants.
\n\n
\”ZKS holders can participate in the governance of ZKSwap, vote on token listings, or stake ZKS to become a PoZK-node of the second level,\” says lead developer Alex Li.
\n\n
Six trading pairs participate in Proof-of-Liquidity: ZKS/ETH, USDC/USDT, ZKS/USDT, ETH/WBTC, ETH/USDT, HBTC/WBTC.
\n\n
After adding liquidity to one of the trading pairs, users will earn rewards in ZKS tokens. The amount of rewards depends on the share of funds they have deposited.
\n\n
\n\n
In Proof-of-TransFee, a USDT/USDC pair is involved. ZKSwap users will receive ZKS based on the size of their transaction fees.
\n\n
\n\n
Last year, the ZK-Rollups technology was integrated by the issuer of the stablecoin Tether.
\n\n
Follow Forklog on Facebook!