polyhedra

What Happened to ZKJ Token?
On June 15, Polyhedra’s token, ZKJ, crashed over 90% in just two hours, dropping from $2 to under $0.35. This happened because a wallet removed over $4.3 million in liquidity from PancakeSwap and started selling a huge amount of tokens. Soon after, another wallet linked to Wintermute also sent ZKJ tokens to exchanges, adding to the panic.
As a result, ZKJ holders lost more than $500 million in value. Bybit recorded over $97 million in liquidations from long positions. People were shocked. Some even suspected that wallets linked to the Polyhedra team may have been involved in selling large amounts of tokens, but the team denied it.

What Is the Phoenix Revival Program?

After this huge crash, Polyhedra launched a new program called the Phoenix Revival Program. It’s meant to reward users who stayed loyal and didn’t sell during the crash.
Here’s what it offers:
Early access to future airdropsIncentives for stakingWhitelist spots for new products

Rewards are only for those who had ZKJ staked on Ethereum or Binance Smart Chain at 13:00 UTC on June 15, just before the crash. The more you had staked at that moment, the more rewards you’ll get.

What’s the Problem Then?

Many in the community are not happy.
Why? Because Polyhedra earlier promised a buyback to help people recover losses, but that’s not happening now. Instead, they are offering future access and perks, which don’t help investors who already lost their money.
Also, the new rewards only matter if ZKJ’s value goes back up, and many investors no longer believe that will happen. As of now, ZKJ is trading at just $0.19, down over 94% from its all-time high of $4.01 in March 2024.

What’s Next for Polyhedra?

The team says they’re still building and plan to launch new products like:
ZKML – a tool combining AI and zero-knowledge proofsA privacy focused stablecoinA decentralized exchange called Dark PoolEXPchain, a zk based Layer 1 blockchain

These sound exciting but for now, the community is more focused on their losses than future promises.

Final Thoughts

Polyhedra is trying to move forward after a massive crash. Their Phoenix Revival Program is meant to reward loyal users, but many investors feel let down and betrayed. Until the team addresses the missing buyback and restores trust, it will be hard to recover both the token price and the community’s support.

Trust is everything in crypto, and once it’s broken, it’s hard to win back.

#Polyhedra #ZKJ #article #GregLens

قامت Binance بإدراج رموز جديدة - ZKSync (ZK)، Polyhedra (ZKJ)، و Ethena (ENA/USDC) - مما أثار حماسًا في Square. غالبًا ما تؤدي هذه الإدراجات إلى ارتفاعات كبيرة في الحجم والتداول المضاربي، خاصةً لبروتوكولات Layer-2 وبنية DeFi التحتية. تواصل ZKSync بناء الزخم من خلال حلول القابلية للتوسع، وتجلب Polyhedra فائدة جديدة، وترتبط Ethena بأسواق المال في DeFi.
زاوية المبدع: قدم "الخطوات الرئيسية لتداول الإدراجات الجديدة" أو "نظرة سريعة مدتها 5 دقائق على ZKSync مقابل ETH." قم بتضمين جدول المقارنة، وإحصائيات الأداء المبكرة، وتنبيهات إشارات المخاطر لتكون مصدرًا موثوقًا.

🔗🔒 كسر حواجز التوافق بين البلوكشين باستخدام شبكة Polyhedra 🔒🔗
🚀 دعنا نتعمق في الميزات الرئيسية وإمكانات#ZKفي هذا الموضوع الجذاب! 🧵👇
1️⃣ المقدمة والنظرة العامة: تقود شبكة Polyhedra الطريق في مجال التوافق بين سلاسل الكتل، باستخدام تقنية ZK-Proof للاتصال الآمن عبر السلاسل. مع zkBridge، تضمن نقل البيانات والقيمة بكفاءة دون المساس بأمان Bitcoin!
2️⃣ التكنولوجيا والميزة: من خلال الاستفادة من أدلة المعرفة الصفرية، تمكن Polyhedra من نقل الأصول عبر سلاسل آمنة من خلال zkBridge. إنها نقطة تحول في قابلية التشغيل البيني لسلسلة الكتل، وتعزز مشاركة البيانات بكفاءة بين أنظمة Web2 وWeb3!