Polyhedra Network’s ZK token will be the first project on HashKey Global’s Launchpool, which was announced to feature a 325,000 ZK prize pool.
HashKey Global, a cryptocurrency exchange, announced that Polyhedra Network (ZK) will be the first project on its Launchpool, with a 325,000 ZK prize pool. Users can now lock USDT to earn ZK tokens over a 5-day period. The income generation period starts on May 30 at 10:00 UTC.
Furthermore, on May 30th, spot trading for ZK-USDT will be accessible beginning at 10:00 UTC. On May 27, at 10:00 UTC, ZK token deposits and withdrawals will be possible through the ERC-20 network.
Users need to stake at least $10 USDT to be eligible to play. Each user can earn up to 6,500 ZK tokens, which represents 2% of the entire reward pool. You must stake ZK tokens between 10:00 UTC on May 30 and 10:00 UTC on June 4.
What is the ZK Token and Polyhedra Network?
The primary goal of Polyhedra Network is to create Web3 interoperability solutions with zero-knowledge-proof protocols. In order to provide safe and effective cross-chain infrastructure for Layer 1 and Layer 2 interoperability, the project has introduced the zkBridge protocol.
By utilizing zero-knowledge proofs (ZKPs), zkBridge significantly reduces on-chain verification costs and enhances security without relying on outside assumptions. Animoca Brands, Polychain Capital, Hashkey Capital, and other investors support Polyhedra Network.
After raising $20 million in its most recent investment round, the project now has a $1 billion valuation. Recently, Polyhedra Network carried out the airdrop.
The Polyhedra Network’s native token is ZK. You can use it for staking, ensuring economic stability, covering zkBridge transactions and ZKP service fees, and participating in governance.
ZK Tokenomics states that 32% of the total token supply will go toward network and ecosystem incentives, 28% toward token purchases, 15% for foundation reserves, 15% toward airdrops and other community activities, and 10% toward core contributors. We can produce a total of one billion ZK tokens.