ZKsync Ends Ignite Liquidity Rewards Program Amid Bearish Market Conditions
ZKsync will discontinue the Ignite Program due to adverse market conditions, halting rewards on March 17th, 2025. Key points include:
- The DeFi Steering Committee decided not to renew Ignite for Season 2.
- Focus will shift towards the Elastic Network with multiple chains in the ZKsync ecosystem.
- Total value locked (TVL) has decreased by approximately 50% since January 30.
- Bitcoin and Ether market caps dropped by 13% and 27%, respectively, over the past month.
- ZKsync's native token (ZK) fell by 35% during the same period.