ZKsync discontinues Ignite liquidity reward program as focus shifts to Elastic Network expansion
The DeFi Steering Committee (DSC) of ZKsync has announced the discontinuation of the ZKsync Ignite liquidity reward program as the project shifts focus towards network expansion. The DSC confirmed that the second season of Ignite will not proceed and the program will end on March 17, canceling the reward allocation for period 6. ZKsync will now concentrate its resources on the Elastic Network, aiming to create an ecosystem of interconnected zero-knowledge (ZK) chains. The decision to end Ignite was influenced by current market conditions, with ZK token prices experiencing a significant drop from their peak in December. Despite the success of the Ignite program in boosting TVL to $270 million, ZKsync's TVL has decreased to $139 million.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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