The ZKSYNC-2-2 network has announced that it would be at sunset at the Ignite program, which has rewarded users to provide liquidity due to lower-lower market conditions.
“After a careful examination, the DEFI management committee (DSC) decided not to renew ignite for season 2 and will be lying the program from March 17, 2025 by deactivating the rewards for period 6,” published ZKSYNC on X.
He added that long -term vision is centered on the elastic network, which is made up of several channels in the Zksync ecosystem.
“Unfortunately, we are currently sailing on a lower market. In accordance with many other ecosystems, Zksync has decided to be more conservative with short and medium term expenses in response to these evolving conditions,” he added. “To stay sustainable, we tighten our more intelligent concentration and expenses, rather than fighting winds.”
Total locked value (TVL) on ZKSYNC has dropped by around 50% since January 30, because the wider cryptography market is struggling with a correction that saw bitcoin and ether lose 13% and 27% of their respective stock markets in the last month.
The native token of Zksync (ZK) plunged 35% during the same period.
