Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

ZK ticker causes clash between Polyhedra and zkSync

Source Fxstreet

zkSync announced on Friday that its token would be ZK, the official token symbol for Polyhedra Network.
zkSync formerly hinted at an airdrop launch sometime in June and considerations for using the symbol.
Polyhedra responded to the recent announcement, calling zkSync a robber and a thief.

Polyhedra Network accused zkSync of “bullying” on Friday after the latter announced it would proceed to make use of ZK for its ticker symbol.

Also read: zkSync is allegedly planning token generation event and airdrop

Polyhedra launches attack at zkSync

ZkSync officially confirmed using ZK as its ticker symbol on Friday, ignoring the fact that Polyhedra had used it earlier. This came after crypto exchange Bybit announced that zkSync's ZK token would be part of its upcoming listing. The exchange also mentioned that it would adjust the Polyhedra token ticker on its platform.

"Bybit is committed to providing a clear and user-friendly trading experience. As part of our ongoing efforts, we will be making adjustments to the ticker symbol for the Polyhedra Network token listed on our platform," they announced.

The ticker symbol was initially chosen by Polyhedra earlier in the year after a rebrand that changed its name from ZKbridge (ZKB) , giving it a new ZK ticker after its token was listed on OKX.

Read more: Ethereum price lags after ETF approval, experts share reason for SEC's change of mind

Tension initially arose after zkSync hinted last week about an airdrop launch sometime in June and considerations for using the symbol.

Polyhedra heavily criticized this new move by zkSync, calling it an act of robbery.

"It's unbelievable that, here in 2024, even with the approval of the ETH ETF, there are still projects that offer benefits to various parties and rob others of their rightful ticker name," Polyhedra said in an X post.

Polyhedra further urged the crypto community to maintain fairness and justice against this action by zkSync.

We trust that the community understands the true meaning of fairness and justice.

Let’s see who will endorse such misconduct and who will stand as the guardian of fairness and justice.

Great job as a robber and a thief, not a blockchain builder. @zksync
— Polyhedra Network (@PolyhedraZK) May 24, 2024

Although there has been no official response from zkSync, some crypto community members seem to support the protocol's ticker choice, claiming that the symbol was never for Polyhedra to use in the first place.

Also read: XRP climbs past $0.53, SEC Chair Gensler says the agency has done very well in court cases

One X user posted

Literally no one supports you in this.

You changed your ticker twice prior to choosing $ZK which you knew full well that zkSync was going to use.
— Picolas Cage (@Picolas_Caged) May 24, 2024

"You talk about fairness and justice but you are the real criminal," said another X user.

Another posted:"POLYHEDRA is your brand name and you can just derive a ticker from it [—] instead you went to use ZK and dropped peanuts to few."

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

October hike odds climb toward 60% as Goldman and BofA both flip — what Warsh's "dose of accommodation" really changed Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Author Irene Q.

Sep 23, Wed

Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Four jobs reports in five days: what JOLTS, ADP, claims and the September payrolls mean for the October Fed decision The US labour market faces its densest data week of the month. JOLTS job openings land Tuesday (7.2 million expected), ADP on Wednesday (70,000 expected), initial claims on Thursday and the September non-farm payrolls on Friday (100,000 expected, down from 162,000). Markets price a 64%-70% chance of another quarter-point Fed hike on October 28. The dollar index sits at 100.77 and the S&P 500 at 7,729.8.

Author Mitrade

Sep 28, Mon

The US labour market faces its densest data week of the month. JOLTS job openings land Tuesday (7.2 million expected), ADP on Wednesday (70,000 expected), initial claims on Thursday and the September non-farm payrolls on Friday (100,000 expected, down from 162,000). Markets price a 64%-70% chance of another quarter-point Fed hike on October 28. The dollar index sits at 100.77 and the S&P 500 at 7,729.8.

Nvidia's $150 billion buyback landed — and the AI sector fell anyway. That's the signal worth trading Nvidia closed up 1.68% at $228.86 on 28 September after announcing a $150 billion share repurchase authorisation, the largest single corporate buyback on record, while the rest of the AI complex sold off: AMD -3.6%, Micron -2.6%, Meta -4.8% and the Philadelphia Semiconductor Index -1.61%. The divergence is not noise. Capital is rotating toward cash-flow certainty, not abandoning the AI theme. With Micron reporting after the close on 30 September, here is what the split means.

Author Irene Q.

Sep 29, Tue

Nvidia closed up 1.68% at $228.86 on 28 September after announcing a $150 billion share repurchase authorisation, the largest single corporate buyback on record, while the rest of the AI complex sold off: AMD -3.6%, Micron -2.6%, Meta -4.8% and the Philadelphia Semiconductor Index -1.61%. The divergence is not noise. Capital is rotating toward cash-flow certainty, not abandoning the AI theme. With Micron reporting after the close on 30 September, here is what the split means.

【Daily Brief】30-year Treasury tops 5.59%, S&P 500 slips to 7,670 and gold holds $4,180 — PCE lands tonight The 30-year Treasury yield closed at 5.59%, its highest since June 2002, and the Dow fell 131.59 points to 51,349.92. US consumer confidence dropped to 81.9, a 12-year low, and JOLTS job openings fell to 7.1 million. August PCE and Q3 GDP both land at 8:30am ET tonight.

Author Suzie

Sep 30, Wed

The 30-year Treasury yield closed at 5.59%, its highest since June 2002, and the Dow fell 131.59 points to 51,349.92. US consumer confidence dropped to 81.9, a 12-year low, and JOLTS job openings fell to 7.1 million. August PCE and Q3 GDP both land at 8:30am ET tonight.

Gold falls to near $4,150 as higher Treasury yields, oil prices outweigh softer PCE inflation Gold price (XAU/USD) tumbles to near $4,150 during the early Asian session on Thursday, pressured by elevated US Treasury bond yields. Traders await the US September employment data for fresh impetus, which will be released later on Friday.

Author FXStreet

6 hours ago

Gold price (XAU/USD) tumbles to near $4,150 during the early Asian session on Thursday, pressured by elevated US Treasury bond yields. Traders await the US September employment data for fresh impetus, which will be released later on Friday.

Popular Symbols