HashKey Global Introduces Polyhedra Network As Its First Launchpool With 325,000 ZK Prize
In Brief
HashKey Global will introduce Polyhedra Network as the first project on its Launchpool, offering a prize pool of 325,000 ZK.
Cryptocurrency exchange HashKey Global revealed plans to introduce Polyhedra Network (ZK) as the first project on its Launchpool, offering a prize pool of 325,000 ZK. Now, users have the opportunity to lock USDT to earn ZK tokens over a period of 5 days, with income generation commencing at 10:00 UTC on May 30th.
Additionally, ZK-USDT spot trading will be available starting at 10:00 UTC on May 30th. Deposits and withdrawals for ZK tokens will be accessible from 10:00 UTC on May 27th via the ERC-20 network.
In order to participate, users must stake a minimum of 10 USDT. Each user can earn up to 6,500 ZK tokens, which represents 2% of the total reward pool. The staking period for ZK tokens is set from 10:00 UTC on May 30th until 10:00 UTC on June 4th.
What Are Polyhedra Network And ZK Token?
Polyhedra Network focuses on developing Web3 interoperability solutions utilizing zero-knowledge proof protocols. The project has introduced the zkBridge protocol to enable secure and efficient cross-chain infrastructure for both Layer 1 and Layer 2 interoperability. By employing zero-knowledge proofs (ZKPs), zkBridge improves security without depending on external assumptions and substantially lowers on-chain verification costs. Polyhedra Network is backed by investors, including Polychain Capital, Animoca Brands, and Hashkey Capital, among others. In its latest funding round, it raised $20 million, bringing the project’s valuation to $1 billion. Recently, Polyhedra Network conducted the airdrop.
ZK is the native token of the Polyhedra Network. It can be used for ZKP service fees, zkBridge transaction fees, staking, ensuring economic security, and participating in governance. According to the ZK tokenomics, 32% of the total token supply will be allocated to ecosystem and network incentives, 28% to token purchases, 15% to foundation reserves, 15% to community activities, including airdrops, and 10% to core contributors. The total supply of ZK tokens is capped at 1 billion.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
