zkSwap Finance Burns 11M $ZF and Supports Users Who Mistakenly Lost Tokens

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zkSwap Finance Burns 11M $ZF and Supports Users Who Mistakenly Lost Tokens

We are excited to announce that zkSwap Finance has burned approximately 11 million $ZF tokens (worth approximately $320,000 USD (ZF price 0.0295) at the burning moment) as part of our ongoing commitment to user-centricity and ecosystem sustainability.

As you may know, 50 million $ZF tokens were allocated for TGE Participants Rewards. However, only 38,672,897.7 $ZF were claimed by the deadline, leaving 11,327,102.3 $ZF unclaimed.

Of the 11,327,102.3 unclaimed $ZF tokens, we’ve decided to use 382307 $ZF to support some users who mistakenly sent $ZF to the token contracts and lost it (764615 $ZF) 😔. This $ZF amount effectively are permanently removed from circulation. It can be verified by checking the balance of $ZF token contract at https://explorer.zksync.io/address/0x31c2c031fdc9d33e974f327ab0d9883eae06ca4a). However, to discourage similar incidents in the future, only 50% of the lost tokens were returned. We have distributed $ZF tokens to users who lost tokens in the aforementioned incident. We hope that this will help to compensate them for their losses.

Tx hashes: 1/ 0x62f27ff99af4fbe09d81ecfa12e37b7c27025e54a2a516811de3328096c2f4d4 2/ 0x2f1bc2709771531a1849bb4250c9b3c36eb352f724a7ccdeef74c07a93eb8806 3/ 0x0a72c71b2c4c668c6149431475b617a939aab6bf37563bcfd4ed396b37f7f617 4/ 0xc492a6b01bc272035ea9da4a90442aa0c1861eb7076fbb493d787564fdfc504c 5/ 0x59957f32e07a50bc22822b4acd542d279e674f69d2b532b92d7b2c1a0eb59ed1 6/ 0x3ee6a9df7cc971cdb32355a17773983e56a0c9f39ac9499ffd30e3ad28af77b1 7/ 0x6c0d72d67d188dfc83168bb276d2f64e6e54b011b197c5c0317fb7a9d9febfd4 8/ 0x64a458eefa492f0b372560959e863101b3644602acfb4400142d838dc08e64d5

This leaves 10944795.35 $ ZF burned at transaction: https://explorer.zksync.io/tx/0x83c67a9724c5e2fb2174638b844da56f12a9c0f3bc6da96bdbd54e31eb2a5073

We believe that these burns will help to reduce the overall supply of $ZF tokens and create a more sustainable ecosystem for our users.

We are committed to providing a safe and reliable platform for our users, and we will continue to take steps to ensure the long-term sustainability of the zkSwap Finance ecosystem.