Starknet-based zkLend announces ZEND token, reveals ambitious 2024 roadmap
zkLend, a cash market protocol constructed on the Ethereum layer2 community Starknet, is making ready to launch its native ZEND token this yr to reinforce its platform’s utility.
In a Feb. 7 assertion shared with Crypto, the platform defined that the token could be airdropped at an undisclosed time to the platform’s customers, who’re presently contributing to the platform’s development and adoption.
Notably, the undertaking has not disclosed the eligibility standards or taken a snapshot for the airdrop but.
Formidable roadmap
The token launch aligns with ZKLend’s formidable 2024 roadmap, together with vital options like remoted markets, a transaction builder interface, vault methods, and an upgraded V2 protocol model.
“These options will unlock extra methods for customers to compose, modularise, and leverage their belongings with seamless UX to supply a product that isn’t solely progressive and artistic but in addition pleasant to make use of,” the assertion added.
Brian Fu, ZKLend’s co-founder, expressed enthusiasm about ZKLend’s roadmap, saying it was designed “to seize and supply essentially the most worth for our customers because the ecosystem grows.”
“Having established ourselves because the native cash market on Starknet, we look ahead to supporting the continual improvement of Starknet, together with and past the scope of zkLend’s operations,” Fu added.
Data from DeFillama reveals that ZKLend is among the many high 5 decentralized finance (DeFi) initiatives on the Starknet. Per the dashboard, the entire worth of belongings locked on the protocol stands at $6.25 million, and it is usually one of the crucial active contracts on the Starknet blockchain, boasting over 8 million transactions as of press time.
Past its technical achievements, ZKLend’s staff actively contributes to the Starknet ecosystem. Co-founders Jonathan Lei and Jane Ma play necessary roles in numerous committees for the layer2 community, together with being core contributors to open-source initiatives.
Starknet is an Ethereum Layer 2 scaling resolution developed by StarkWare. The community makes use of the ZK-Rollup expertise to considerably improve Ethereum’s transaction throughput by as much as tenfold whereas considerably decreasing transaction charges.
Disclaimer: The Crypto founders are invested in zkLend.
