ZKFair: Empowering the Community, Restoring ZK Glory

Forward the Original Title ‘从 VC 盛宴到社区所有，ZKFair 的百亿目标之旅’

Preface

As the Cancun upgrade approaches, the call for L2 Summer is getting louder and louder, but it must be distinguished whether this is a feast for VCs, institutions, and giant whales, or a decentralized opportunity for communities and retailers.

ZKFair decided to be the people’s L2, and all rights and interests belong to the community.

ZKFair is an Ethereum L2 model room built by RaaS Lumoz. Merlin, another popular BTC L2 project, was also created by them. The consistent focus is on how to return L2 revenue to users to truly promote the popularization of Rollup technology.

ZKF fair launch, unique IGO mode.

ZKFair is determined to learn from the economic model of Bitcoin, where 100% of the transaction fees go to the miners. In contrast, L2 Rollup on Ethereum will “intercept” some of the transaction fees paid by users, thus becoming its own source of profit.

The birth of ZKFair is to change this unfair income model. It is the users who really create L2 Summer, so they should also take away all the profits.T herefore, ZKFair token ZKF will be 100% airdropped to relevant users. And further, ZKF as the “channel” for Gas Fee will also be 100% returned to users.

Recently, the market has responded positively to this, with ZKF rising 40% in one day, and the related PFP also rising 180 times.

Starting from the community, the 70th day after the birth of ZKFair

Fairness has once again become the spirit of the industry, and the free and open encryption world has returned.

Back on Christmas Eve 2023, Lumoz decided to launch ZKFair in Fair Launch mode, creating a unique IGO (Initial Gas Offering) paradigm. The core is that “participants receive token airdrops in proportion to the gas burned through their on-chain transfer behavior; The issuer takes the gas paid by participants as the income from this token issuance.”

Hundred percent rebate. No pennies left on the table.

In between coming and going, users obtain ZKF tokens through Gas Fee as a proof-of-work mechanism. This is different from the traditional party of getting something for nothing, and emphasizes the fairness that everyone can participate.

The total issuance of ZKFair is designed to be 10 billion. The acquisition methods include using USDC as Gas Fee in the initial stage, and consuming Gas fees through main network interaction and transfer to obtain airdrops and additional community rewards.

Specifically, the airdrop can be divided into two parts: Gas Fee airdrop and community member distribution. To solve the problem of the initial participation threshold for users, ZKFair allows users to use USDC as the startup Gas Fee to facilitate public participation. After the mainnet is launched, the Gas Fee will be returned to the users.

Between iterations, the project party will redistribute the Gas Fee received to users in the form of USDC.In principle, a 100% fair launch mechanism is implemented, and the project party neither retains nor collects any form of tokens.

In order to show its support for the Bitcoin community, ZKF also distributed 5% of the tokens to members of the Ordinal community. In addition, 25% of the ZKF tokens were airdropped to community members based on their contribution.

ZKF is also used to motivate users to pledge. 75% of the fees of ZKFair will be used as staking rewards to ensure that users can receive an equal proportion of returns after contributing to the ZKFair network.

From the start of the fair launch, ZKFair began to grow vigorously in the name of the community, considering the interests of the community in every step, and ultimately burst out with unparalleled upward growth power.

Start with the community, grow with the community.

Different from the general L2 community, the project party of ZKFair is the community itself. ZKFair pursues 100% community ownership. Within 70 days of its launch, ZKFair has launched multiple Launchpads, including leading wallets such as Bitget Wallet, and has received Gate Trading support for major exchanges such as Gate.io.

ZKFair has passed the initial growth period. Not only has ZKFair been launched on other Launchpads, it is also a project launch platform. Currently, 5 projects have entered the ZKFair Launchpool, the most well-known of which is Merlin Chain. The continuous launch of quality projects will provide ongoing support for the ZKFair token.

From community growth, to community leadership.

ZKFair does have a development and support team, which is also a part of the community. Driven by the community, the TVL of ZKFair has reached the level of 300 million US dollars, which is the highest existence in the L2 developed using Polygon CDK and has ranked in the top ten of L2BEAT.

Behind the rapid growth of both TVL and currency price is ZKFair’s continued BD efforts. ZKFair basically adds a new partner every few days, including security cooperation with Go+ Plus and domain name issuance by Space ID. As of now, ZKFair has at least 150 ecological projects of various types.

According to ZKFair’s previously announced roadmap, it will establish contact with 200 project parties and reach cooperative relationships with more than 100 project parties in Q1 of 2024. At present, it seems that the goal has been initially achieved.

Not only that, ZKFair will hold a large-scale ecological event with Lumoz on March 8. In the first round, 25 project parties have participated in sponsorship, with a total of 30 million Lumoz points and 50,000 USDC forming a prize pool, of which the points can be exchanged for Lumoz tokens in the future.

It is worth mentioning that Lumoz is conducting a new round of financing with a valuation of 120 million, and no penny of the investment amount is left. The points given to ZKFair users this time are enough to prove Lumoz’s support for ZKF. Based on the current market value alone, Calculated, it has exceeded 1 million US dollars.

After 70 days of hard work, ZKFair now has more than 200,000 community members, but this is just the beginning. The future goal is to have 1 million community members, at least 10 billion TVL, and for ZKF to break through the 10 billion market value mark, creating a popular L2 product for everyone.

According to the ZKFair Q2 roadmap, ZKFair will have a stronger alliance with the BTC ecosystem. By then, we will see the powerful combination of ZKF and BTC.

The BTC ecosystem is definitely the focus of this year, and the spirit of fairness is the most valued concept in the Bitcoin community. Just like ZKF airdropped to the inscription community, ZKFair entering the BTC ecosystem also helps capture the value of ZKF.

2024 Q2:

• Partnering with Lumoz RaaS’s new ETH L2 to further empower ZKFair and $ZKF.
• Support cross-chain transfers and transactions of BTC ecological assets.
• Actively build the ecosystem, and have deployed more than 150 ecological projects, focusing on the fields of DeFi, Game and AI.
• Continue to be listed on more centralized exchanges.
• Continuing to work with Polygon Labs to optimize ZKP generation and enhance on-chain interaction experience

To achieve the above goals, globalization is the only way. After the ecological groundwork in February, in the next quarter, the United States, Hong Kong China, Turkey, Vietnam, Indonesia, India, Japan, South Korea, Russia, Singapore, UAE, and China, etc., will be the key markets to develop in the global segment.

Community ownership, ZK technicality

ZKFair belongs to the community, it’s not just marketing rhetoric, but is based on the confidence and calmness of ZK technology. It is precisely because of the maturity of ZK-Rollup technology that the Lumoz and ZKFair development teams believe that they can sustain themselves through the self-operation of the community, therefore, they focus on market expansion.

Technology and market complement each other.

Compared to the OP series Rollup technology solution, the ZK series Rollup is more seen as a medium and long-term solution for Ethereum, but the current L2 has many difficulties, such as cross-chain interoperability, or being limited to specific fields, such as Loopring being viewed as a payment channel, etc.

As its name suggests, the ZKFair chain is a fairly launched, community-owned project supported by ZK technology. ZKFair uses Polygon CDK technology and Celestia to build DA services. Lumoz is an officially recognized CDK service provider of Polygon, and its technical research and development capabilities cannot be underestimated.

For example, ZKFair uses the native cross Rollup communication protocol (NCRC, Native Cross Rollup Communication), which can achieve atomic-level information exchange between multiple Rollups. Users can directly call Ethereum’s dApp on ZKFair without needing to cross-chain assets to Ethereum.

Secondly, ZKFair can also communicate with other types of L2 Rollups and has the ability to call across contracts to reconnect the broken Ethereum L2.

The choice of Celestia as the DA layer is also due to economic costs. As the DA layer, Celestia will save more than a hundred times the gas fee. Compared with EigenDA or Ethereum, this is a choice that is more in line with the interests of the community.

Underneath the market strategy is ZKFair’s strong technology reserve. Only in this way, ZKFair dares to be fully operated by users in the future, transforming into community ownership.

As mentioned before, ZKFair’s community governance model aims to create a fair, just and highly autonomous community environment by conducting 100% token airdrops when the mainnet is launched, thereby effectively solving the unfair problems in the existing ZK-Rollup project.

Pure technology must also be combined with effective token drive, ZKF will take on the heavy responsibility of community governance.

Regarding community self-drive, the functions of ZKF mainly focus on staking and voting. At present, ZKFair has launched the staking function. Users can obtain Gas Fee profit dividends by staking ZKF. In terms of specific allocation quotas, 75% of the fee profits are used to incentivize ZKF stakers, and the remaining 25% will be distributed to developers to encourage them to develop native applications on ZKFair.

Currently, about 3.5 billion ZKF have entered the staking system, and 630,000 USDC have been distributed. The annualized rate of return is stable at around 15%, of which 1 billion are locked in the Merlin Chain, which strongly supports the price and market value of ZKF.

Another supporting aspect of ZKF value is the FDV (Fully Diluted Market Value) data. ZKF is 100% circulating, so FDV is the market value itself. This is a reflection of true value without any discount, rather than a calculation game obtained by locking up the circulation.

The correlation between ZKF’s FDV and TVL is also relatively real. The larger the difference between TVL and FDV, the more it indicates that a large number of tokens have not played a real role. And the FDV/TVL ratio can also explain the degree of overestimation of the token. The ratio of ZKF is around 0.64. For comparison, StarkNet is around 1.45. ZKF’s FDV is not high, and there is still some room for growth in the future.

Empowerment never ends, create the first on-chain Launchpad

ZKFair is controlled by the community, but community control alone cannot guarantee the long-term survival and governance level of the project, so it is crucial to determine the tone of the community.

For example, Launchpool chose to cooperate with Merlin Chain for a long time and has already entered the fifth round. Merlin Chain does not simply raise funds from the ZKFair community, but will return part of the proceeds to form a stronger binding relationship. Participating in the ZKFair Launchpool can obtain 1% of Merlin tokens, which not only indirectly supports the development of Merlin Chain, but also serves as a demonstration for other project parties.

Not only that, Merlin also represents the project discovery capability of the ZKFair team. Since 2024, ZKFair has been actively expanding in various tracks such as NFT, DeFi, infrastructure, games, and AI.

On February 6, 2024, ZKFair and Element cooperated to launch ZKFair Pass, which was limited to 20,000 pieces and sold out within 10 minutes. This is not only an NFT issuance, but also includes airdrop rights for all projects in the ZKFair Launchpool during February 2024.

Continuing its efforts, ZKFair also launched the ZKfair PFP NFT with richer rights. Users holding PFP can earn more points at a lower cost when participating in the ZKFair Launchpool.

On March 2, the CyberArmy NFT series of warrior images based on the ERC-404 protocol went on sale on Element, with a total of 9,999 sold out in less than an hour, with a maximum increase of 150 times.

Conclusion

ZKfair started in the community and will return back to the community.

ZKFair’s creations are all about empowering users. Despite the overdevelopment of current blockchain technology, many infrastructure products have long obscured the presence and value of the users.

ZKFair has taken on the task of rediscovering the more than 600,000 on-chain users. With a steadfast belief in its mission, ZKFair is aiming for a market value of 10 billion. This is not a fantasy, but a viable trajectory confirmed by Arbitrum. Considering the weak position of the ZK series Rollup on TVL, it is ZKFair’s responsibility to restore ZK’s glory.

Disclaimer：

1. This article is reprinted from [TechFlow深潮]. Forward the Original Title‘从 VC 盛宴到社区所有，ZKFair 的百亿目标之旅’.All copyrights belong to the original author [深潮 TechFlow]. If there are objections to this reprint, please contact the Gate Learn team, and they will handle it promptly.
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