Matter Labs to Reveal its ZkSync Token Specification in November 2022

Steve Newcomb, chief product officer at zkSync’s growth firm, Matter Labs, has disclosed in a Twitter Areas dialogue that the native token for the Ethereum scaling resolution zkSync will likely be revealed within the first week of November. 

Newcomb made this announcement shortly earlier than zkSync plans to debut its core community which has been in development again in 2021. 


Moreover, when questioned concerning the launch date of a potential zkSync token, Newcomb mentioned. “Within the first week of November, and I do not wanna trigger an excessive amount of of a flurry right here, search for us to make a press release that many individuals are ready for regarding tokenomics.” 


Whereas Newcomb acknowledged that the token data would quickly be accessible, he described the rumors of an airdrop—a free token distribution to zkSync customers as false. 


Matter Labs Raised $50 million in a Collection B Funding 


Again in November 2021, Andreessen Horowitz (a16z) headed a $50 million Collection B funding spherical for Matter Labs to finance the creation of zkSync.


zkSync is a ZK rollup-based Ethereum scalability resolution that makes use of zero-knowledge (ZK) proofs to depend on Ethereum for safety whereas concurrently bundling transactions off-chain to ship swift and cheaper crypto transactions.


The agency is making ready to launch the mainnet, which it claims will fully help Ethereum good contracts on the ZK-Rollup, in an ecosystem branded “zk-EVM.”


Following zkSync’s mainnet debut, greater than 100 tasks expressed curiosity in utilizing it to distribute their apps. Apparently, Uniswap, the largest decentralized change by worth, handed a legislative invoice not too long ago to run its model 3 change on zkSync after the mainnet launch.

Picture supply: Shutterstock

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