Ethereum

Polyhedra Network

DeFi

Planet

zkSync

<div class="intro-text">
 Polyhedra Network, the developer of Ethereum scaling solution zkBridge, has<a style="color: #0000ff;" href="https://polyhedra-network.notion.site/Polyhedra-Network-Staking-Program-ece2c0ea9b254d74a9dc6ba3b684480a" rel="noopener noreferrer nofollow"> announced</a> a temporary staking program which offers participants tokens worth $1.13 million in USDT.&nbsp;
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According to the announcement, the program runs until July 11 and requires participants to stake their tokens for at least one week. This four-week-long staking event allows token holders to stake their ZKJ tokens in exchange for rewards in ETHFI, ID, and CYBER tokens. To earn a minimum reward of $100, participants must stake 1,000 ZKJ tokens, which are worth about $1,110 at current market prices.
This announcement follows a recent<a style="color: #0000ff;" href="https://defi-planet.com/2024/05/community-backlash-intensifies-as-linea-asks-matter-labs-to-abandon-zk-trademark-application/" rel="noopener noreferrer nofollow"> controversy</a> involving Matter Labs, the company behind the zkSync layer-2 solution, and Polyhedra was a big part of it.&nbsp;
Matter Labs had<a style="color: #0000ff;" href="https://x.com/the_matter_labs/status/1796291762832502933?t=ajZvabG7xhBDoTa4pfsRkQ&amp;s=19" rel="noopener noreferrer nofollow"> sought</a> to establish exclusive rights to the “ZK” term, even though Polyhedra Network was already using it for its token.&nbsp;
In response, Polyhedra Network<a style="color: #0000ff;" href="https://twitter.com/PolyhedraZK/status/1796158009090904495?t=ZUOGfrPNM_iPAl0R9FMPbw&amp;s=19" rel="noopener noreferrer nofollow"> changed</a> its token ticker to “ZKJ” and condemned Matter Labs’ actions,<a style="color: #0000ff;" href="https://x.com/PolyhedraZK/status/1793996574189867463" rel="noopener noreferrer nofollow"> accusing</a> them of acting like “a robber and a thief, not a blockchain builder.”&nbsp;
Notably, Matter Labs has<a style="color: #0000ff;" href="https://twitter.com/the_matter_labs/status/1797343779189403825?t=kbZ1ckBYdlTkqk6_R9vLBA&amp;s=19" rel="noopener noreferrer nofollow"> abandoned</a> its attempts to trademark the term. The move came after various stakeholders in the crypto community<a style="color: #0000ff;" href="https://x.com/LineaBuild/status/1796438427732181472" rel="noopener noreferrer nofollow"> criticized</a> the trademark application. Matter Labs later<a style="color: #0000ff;" href="https://twitter.com/the_matter_labs/status/1796291762832502933?t=eoqgCe3v4rlJgTqr4L6dkg&amp;s=19" rel="noopener noreferrer nofollow"> clarified</a> that it had applied for ZK-related trademarks to ensure the term “ZK” could be freely used with names associated with the company, such as “ZK Sync” and “ZK Stack.”
Meanwhile, as part of its commitment to advancing zero-knowledge (zk) technology, Polyhedra Network recently<a style="color: #0000ff;" href="https://defi-planet.com/2024/05/polyhedra-network-introduces-expander-clams-it-is-the-fastest-open-source-zk-proof-system-yet/" rel="noopener noreferrer nofollow"> announced</a> the launch of Expander, an open-source zk-proof system that claims to be the fastest available globally. The team claimed that it combines classical interactive proofs with advanced polynomial commitment schemes to ensure the accuracy of transactions and consensus verification. This system is designed to be faster and deployable on various devices and infrastructures, including mobile phones.
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The post <a href="https://defi-planet.com/2024/06/polyhedra-introduces-1-13m-temporary-staking-program-as-matter-labs-abandons-zk-trademark-application/" rel="noopener noreferrer nofollow">Polyhedra Introduces $1.13M Temporary Staking Program As Matter Labs Abandons “ZK” Trademark Application</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Polyhedra Introduces $1.13M Temporary Staking Program As Matter Labs Abandons “ZK” Trademark Application

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