ChainCatcher news, on-chain detective ZachXBT posted that the project ZKX, which suddenly announced its shutdown, has faced widespread condemnation from the community, including investors and market makers, while members of the Starknet Foundation defended it.Previously, Starknet Foundation member Henri responded to ZachXBT, stating, "ZKX has been contributing to the ecosystem for years. We know them and have worked alongside them; they have made contributions to the ecosystem that others could not. It is completely inappropriate to label them as scammers because of some wrong decisions (I do not defend this). This will negatively impact you and your judgment."

ChainCatcher news, according to The Block, investors and market makers involved in the recently closed ZKX expressed that they were surprised by the closure announcement and did not receive any prior warning. Ye Su, founder of ArkStream Capital, stated on X, "When ZKX closed, we, as investors, had no information at all. The team claimed they ran out of money, refused to provide any financial or expenditure details, and did not communicate with us." HashKey Capital echoed Su's concerns in its own post, complaining that ZKX failed to share its financial status and future plans with the venture capital firm.Amber Group, which claims to be an investor and market maker for ZKX, stated that after returning half of its initial loan of 2 million tokens and purchasing 2 million tokens as part of its market-making operations since the token generation event, the company holds 3 million ZKX tokens. "Due to the lack of buying interest at launch, and our commitment to providing ongoing liquidity, we have been net buyers of ZKX tokens since listing, even as prices have fallen. This approach aligns with our commitment to supporting the project and its community, ensuring market conditions remain stable, even at our own expense." "Starting a business inherently involves risks and the possibility of failure, so open communication, transparency, and accountability are invaluable qualities for founders. We hope founders recognize that a good reputation is an important asset for securing future financing."The founder of ZKX defended against accusations of deceiving investors, arguing that prior notice could harm the protocol.

ChainCatcher news, Perlone Capital partner Jin Kang tweeted this morning questioning the Starknet ecosystem DEX project ZKX, pointing out that it might be a scam.Kang highlighted three main issues: the team shut down the project just 6 weeks after the TGE due to "insufficient funds," suddenly changed the token unlock plan during the TGE, and the actual circulating tokens at the TGE exceeded the official documentation, leading to a price crash.He stated, "If this isn't a scam, then what is it?"

According to ChainCatcher news, data from Bitget shows that ZKX has dropped by 11.35% in the last 24 hours, currently priced at $0.0125.Previous news, Eduard, the founder of the derivatives DEX ZKX based on Starknet and Ethereum, issued a statement saying that the protocol will cease operations due to the inability to find an economically viable path for it.

ChainCatcher news, regarding "why $7.6 million was raised, and TGE just started a few weeks ago, ZKX announced it would cease operations," ZKX founder Eduard responded, stating that the $7.6 million funding was raised from 2021 to 2024 to support a 30-person team developing a dedicated blockchain to scale perpetual contracts. Eduard mentioned that this funding covers multiple code audits with Nethermind, TGE listing fees, AWS cloud service expenses (high L3 costs), and developer promotion activities for Cairo programming.He emphasized that all user funds have been fully returned, over 80% of users have withdrawn from the protocol, and the main wallet is self-custodied. The core founders did not sell any tokens, but four years of effort and life achievements have gone to waste. Additionally, Eduard noted that the DeFi team faced immense community pressure, vulnerabilities, scams, and hacking attacks. He stated that the team did its best to protect customer funds, and Binance is aware of the identities of some attackers. Finally, he reflected that choosing a full-chain smart contract protocol instead of L3 and other strategic decisions might have been financially wiser, and expressed that the team has learned lessons from this painful experience.Earlier, ChainCatcher reported that the Starknet ecosystem DEX ZKX would cease operations and advised users to withdraw funds before September.

ChainCatcher message, the founder of the derivatives DEX ZKX based on Starknet and Ethereum, Eduard, issued a statement saying that the protocol will cease operations due to the inability to find an economically viable path for it.Currently, all markets have been delisted, positions have been closed, and all funds have been returned to each user's trading account; users can transfer funds from their trading accounts to their main self-custody accounts; the self-custody ZKX account is a wallet on Starknet, and users can withdraw back to L1 at any time through the Starkway bridge; the protocol will continue until the last day of August, and the ZKX ownership and distribution will continue after the closure on September 1; it is strongly recommended that everyone withdraw their funds and claim any pending STRK rewards before the August sunset.

ChainCatcher news, according to BeInCrypto, the derivatives DEX ZKX based on Starknet and Ethereum has announced the completion of a new strategic funding round of $7.6 million. This round of financing was participated by Flowdesk, GCR, DeWhales, and previous investors Hashkey, Amber Group, Crypto.com, and StarkWare.It is reported that the new funding will be used to accelerate the expansion of the ZKX protocol and introduce new features such as a social copy trade pool, as well as expand cross-chain interoperability.According to the Web3 asset data platform RootData, ZKX is a permissionless derivatives protocol built on StarkNet, featuring a decentralized order book and a unique way of providing complex financial instruments as swaps. The protocol is supported by a DAO and will offer a better trading experience through gamified leaderboards and unique liquidity governance.

ChainCatcher message, the derivatives trading protocol ZKX announced on X that Airdrop 2, token listing, and staking will go live today at 17:00.

ChainCatcher message, the derivatives trading protocol ZKX posted on social media, reminding users to claim all unclaimed ZKX tokens in their profile, including trading rewards, badges, and Clan, before the snapshot on June 17, 2024.ZKX also stated that for users with Yakuza, Clan, and OG Badges NFTs stuck in Argent and Braavos wallets, due to technical difficulties in transferring to ZKX accounts, users need to fill out the corresponding form so that the official can send the Airdrop 2 rewards to the users' accounts on TLE. The deadline for filling out the form is June 11 at 20:00.

ChainCatcher news, StarkNet ecosystem derivative trading protocol ZKX has announced that it will launch its governance token ZKX on June 6, along with plans for token distribution and ecosystem development over the coming months.ZKX stated that after the token launch, it will be listed on selected AMMs and centralized exchanges on StarkNet, and staking functionality will be enabled simultaneously. At that time, users can stake ZKX tokens to receive a share of DEX trading fees in the form of USDC.It is reported that to ensure a smooth token issuance, ZKX has set a 3-month linear release period for Airdrop 1, Airdrop 2, and the cumulative trading rewards before the mainnet launch. Trading rewards obtained after June 6 will be available for immediate withdrawal. In addition, ZKX will conduct Airdrop 2 in June and plans to carry out two more rounds of airdrops within this year.ZKX revealed that in 2024, it aims to "socialize perpetual contracts" and will focus on expanding important features such as referral programs, staking, and prediction markets to inject social elements into the derivatives market. To align with the token issuance, ZKX has made slight adjustments to the token economic model, reducing the team's share to increase the share of the liquidity launch pool on the Fjord protocol, while the community share remains unchanged.It is worth mentioning that the ZKX token had previously completed its first round of airdrop in April. Currently, the protocol has accumulated over 24,000 accounts, and the trading volume of perpetual contracts has exceeded $810 million.

ChainCatcher news, the decentralized derivatives protocol ZKX in the Starknet ecosystem announced the launch of the first phase of its token airdrop, which will take place from October 2 to October 16. The token ZKX is the governance token of the protocol, with a maximum supply of 100 million tokens. The first phase of the airdrop will distribute 4% of the total supply, while the second phase will distribute 11% of the total supply.ZKX stated that the first phase of the airdrop is aimed at Yakuza participants from SZN1 and SZN2, and the tokens will be available for trading once they go live in early 2024.ZKX also added that the second phase of the airdrop is planned for traders participating in Yakuza SZN 3 and 4.

ChainCatcher news, the Starknet ecosystem derivative protocol ZKX announced on social media that it will launch the governance token ZKX. Users can obtain governance rights, protocol revenue denominated in USDC, and other community benefits by staking ZKX tokens.In addition, ZKX announced its governance token economic model. The total supply of ZKX is fixed at 100 million tokens, of which 18% will be distributed as trading rewards through smart contracts and tasks, 17% will be allocated to core contributors representing the ZKX team, 1% to current protocol advisors, 20% will be distributed to early investors who supported ZKX over the past two years, and 20% of the tokens will be allocated to the ZKX treasury, which will be overseen by the ZKX DAO (once formed). 15% will be allocated to the community, and 9% of the ZKX tokens will be specifically used to incentivize users and market makers who provide liquidity to exchanges and AMMs.

ChainCatcher news, the derivative trading protocol ZKX based on Starknet has announced the launch of the ZKX application chain, aimed at providing traders with the performance of CEX and the security of DEX. The ZKX application chain serves as a full-chain layer, connecting multiple L1 and Rollup, offering users continuous liquidity and interoperability.Previous news, the StarkNet ecosystem derivative protocol ZKX has completed a $4.5 million financing round, with participation from StarkWare and others.

ChainCatcher news, the decentralized derivatives protocol ZKX has announced that it is now live on the StarkNet public testnet, which features over 40 tasks. Users can earn OG-level roles and future ZKX token rewards by participating and providing feedback.It is reported that ZKX is a permissionless derivatives protocol built on StarkNet, featuring a decentralized order book and offering an enhanced trading experience through gamified leaderboards and unique liquidity governance.Additionally, according to the crypto data platform RootData, ZKX completed a $4.5 million funding round last July, with participation from HashKey Capital, Huobi Ventures, StarkWare, and others. (source link)

ChainCatcher news, the derivatives trading protocol ZKX based on StarkNet will launch its testnet on March 14 and will open source its smart contracts. As part of the community incentive program Season 2, the testnet will include: new tasks, recommendations on the testnet leaderboard on the ZKX website, OG-level roles with future rewards, and NFTs.It is reported that ZKX received funding from StarkWare to develop the ZKX derivatives and DAO open-source protocol on StarkNet. In July 2022, ZKX completed a $4.5 million financing round, with participation from StarkWare, Alameda Research, and others. (source link)