4 months ago
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The project aims to completely hand over network governance to the community.
zkSync, an Ethereum layer 2 network, is ramping up efforts to roll out its v24 upgrade, the final protocol update before transitioning network governance to its community, said zkSync in a recent post on X. With zkSync nearing a major milestone, the community’s focus now shifts toward the project’s airdrop expected by the end of June.
“The remaining missing pieces are expected to be in place by the end of June,” the zkSync team stated.
Set to be the last key step before decentralization, the “release of v24” follows the network’s support for EIP-4844, a technical standard that improves scalability on the Ethereum blockchain.
zkSync noted that it aims to build a foundational technology that can handle billions of users. The project wants to be seen as different from projects focused on hype or short-term gains.
“zkSync is not just another L2. It’s the catalyst for the emerging era of the verifiable internet that belongs to the users — at the scale of billions of people,” zkSync stated. “ZK summer is coming.”
According to data from DeFiLlama, as of May 18, zkSync had a total value locked (TVL) of $141 million.
In March, Matter Labs, zkSync’s developer, announced its partnership with Swiss digital asset bank Sygnum to tokenize $50 million of its treasury reserves on zkSync.
📣 News: Sygnum tokenises Matter Labs’ treasury reserves in USD 6.9bn Fidelity MMFhttps://t.co/QvYjx8O1e2
Sygnum is tokenising USD 50m of Matter Labs’ treasury reserves onto the zkSync #blockchain. The Sygnum-issued security tokens act as on-chain representations of units from…
— Sygnum Bank (@sygnumofficial) March 19, 2024
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