ZKsync Sunsets liquidity

The DSC (DSC) Steering Committee said it will not renew ZKsyNC IGNITE, liquidity reward program, as the project converts its focus into wider network expansion.

DSC confirmed that the second IGNite season will not continue and that the program will be stopped on March 17. This also eliminates the allocation of rewards for the 6th period, which is the final stage of the first season of the program.

Zksync said it will focus its resources on its flexible network, and it is a structure that aims to convert the platform into an ecosystem for the interconnected zero knowledge chains (ZK). “Our long -term vision of ZKSYNC is increasingly on the flexible network, and we want to focus our resources to accelerate this,” mentioning the project.

He said that pouring his resources in one series program is not in line with this inter -operating goal.

Cointelegraph communicated with Matter Labs, the company behind the ZKSYNC, to comment, but it did not receive any response at the time of writing this report.

Mobility in the downtown encryption market

The team admitted that the current market conditions affected the decision to end the ignition.

The team said: “To stay aspiring, we are tightening our focus and spent more intelligent rather than fighting the opposite winds,” the team said.

Zk Tokens’s performance was well in 2024, reaching the highest level of $ 0.26 on December 8. However, ZK prices failed to maintain their highest levels, which were subjected to constant pressure pressure as market conditions exacerbated. The distinctive symbol is currently trading at $ 0.06, a decrease of 76 % from its price in December.

Related to: Zksync 10 km and zero sub -fee by 2025 target the road map goals

Zksync IGNITE TVL strengthened the project to $ 270 million

According to ZKSYNC, the program exceeded its goal of leading the total value to lead the total value (TVL) to $ 100 million. The program helped pushing TVL to more than 270 million dollars, making the chain trading more smooth. However, Defillama data appears that TVL from ZKsync has currently decreased to $ 139 million.

Ignite program originally Scheme To allocate 300 million ZK icons within nine months for Defi users who will provide liquidity for the pairs of the main distinctive symbol. The first season was determined from January 6 to March 31, with 100 million code of about $ 21 million at the launch. At current ZK prices, only 100 million icons are 6.8 million dollars.

Regardless of ZKSYNC, the broader encryption market is also witnessing a decline in the industry level, as it fights higher encryption assets such as Bitcoin (BTC) and ETHER (ETH) to maintain prices.