ZKsync discontinues Ignite program, reallocates resources to network expansion

From Cointelegraph

March 14, 2025 07:21 AM:

ZKsync’s DeFi Steering Committee (DSC) will not renew ZKsync Ignite, shifting focus to network expansion. Ignite’s second season canceled, program discontinued on March 17. Resources will now go to Elastic Network for an ecosystem of interconnected zero-knowledge chains. ZK tokens dropped 76% from $0.26 to $0.06 amid challenging market conditions.

ZKsync Ignite boosted TVL to $270 million, surpassing $100 million goal. TVL now down to $139 million. Program planned to allocate 300 million ZK tokens over nine months, worth $21 million at launch. Only worth $6.8 million at current prices. Crypto market downturn affecting ZKsync and other top assets.

Read more at Cointelegraph: ZKsync sunsets liquidity program amid bearish market