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ZKFair

ZKFair is the first community ZK-L2 based on Polygon CDK[2] and Celestia DA[3], powered by — a ZK-RaaS (Rollup as a Service) provider. ZKFair utilizes as the token. ZKFair ensures 100% EVM compatibility, exceptional performance, minimal fees, and robust security. [1]

Overview

Launched on December 24, 2023, ZKFair is a new project that addresses unfairness issues in the ZK-L2 landscape. Unlike other ZK-Rollups controlled by centralized teams and backed by investors, exchanges, and major institutions, ZKFair is driven entirely by the community. It seeks to provide users with significant returns for their contributions and transaction fees, promoting fairness and community influence in its operations and management. ZKFair aims to empower users by ensuring they receive a fair share of the platform's benefits. [4][7]

ZKFair is a fully community-driven project that transitions to complete community governance after the mining phase. Community Governors, elected by community votes, will manage ZKFair's operations. The original ZKFair team will step back from administration, market influence, and business development. This transition aims to create a decentralized platform governed by the community. [4]

As of March 2024, ZKFair's TVL reached $300 million. [9]

USDC as the gas token

ZKFair uses USDC as its native token for several reasons. First, , a stablecoin issued on the , is highly trusted and supported by centralized financial institutions, ensuring stability and credibility. This security allows users to participate in various transactions with confidence. [6]

Additionally, USDC is widely used and supported on major exchanges and , providing ZKFair with enhanced liquidity and a convenient trading experience. The use of USDC also enables better interoperability with other projects in the Ethereum ecosystem, allowing users more opportunities to participate in the DeFi ecosystem. Moreover, as a stablecoin pegged to the U.S. dollar, USDC offers price stability, giving users a more predictable and manageable trading experience. Finally, USDC's alignment with regulatory standards offers a more secure and compliant environment for DeFi participation. These factors collectively improve the security, and liquidity of ZKFair while contributing to the broader decentralized financial ecosystem. [6]

ZKF Token

The ZKF token is central to ZKFair. ZKFair features a 100% fair launch, with no involvement from investors, reserves, or pre-mining strategies. ZKF tokens are distributed entirely through : 75% via Gas Fee Airdrop and the remaining 25% directly to the community. This approach aims to ensure fairness and community empowerment in the governance of the platform. [5]

Distribution

The total supply of ZKF tokens is 10 billion, with 2.5 billion fairly airdropped to the community and the remaining 7.5 billion generated entirely through Gas Fee Airdrop after the launch. There will be no future issuance of ZKF tokens. All 10 billion ZKF tokens become immediately available and enter circulation after the conclusion of the airdrop. [5]

voZKF

voZKF is the token with voting power. ZKFair is governaced by community, the voZKF is used to submitted proposals and vote for decisions. The voZKF generated by ZKF serves as the governance token of ZKFair. The voZKF holders have the right to participate in the decentralized governance of ZKFair, including the election of Community Governance Representatives and the ultimate decision-making on major matters, alongside the entitlement to L2 Gas Fee sharing. [8]

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ZKFair

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Edited On

June 10, 2024

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