ZKFair Announces Gas Fee Distribution: Rewarding Stakers and Reducing Supply

Bittime - ZKFair , the community-driven ZK-L2 network, just hit a major milestone with its gas fees hitting an all-time high this week. According to a tweet from the ZKFair Community, the total gas fees collected amounted to approximately US$1,489,758.18.

Share Success with Stakers

In line with their commitment to rewarding stakers and supporting the ZKF token, ZKFair will allocate the majority of gas fees to $ZKF stakers. 

75% of the total gas fees will be distributed proportionally among those who have staked their ZKF tokens on the ZKFair platform. This incentivizes users to participate in staking and contributes to the overall security and stability of the network.

Source:ZKFairCommunity/X

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Buyback and Burn to Increase Token Value

The remaining 10% of gas costs will be used for the buyback and burn program. ZKFair will use these funds to buy back ZKF tokens from the market, effectively reducing the circulating supply. 

This strategy aims to increase the scarcity of the ZKF token and potentially increase its value over time.

Sustainable Ecosystem for ZKFair

This gas fee distribution plan shows ZKFair's commitment to fostering a sustainable ecosystem. By rewarding stakers and reducing the token supply, ZKFair creates a win-win situation for the platform and its users. 

Stakers are incentivized to participate and contribute to network security, while buyback and burn programs help maintain the long-term value of ZKF tokens.

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The Future for ZKFair

This record-breaking week for gas costs highlights the growing adoption of the ZKFair network. With a focus on rewarding stakers and maintaining a healthy token economy, ZKFair is well positioned to continue to grow and succeed in the ZK-rollup space.

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You can buy and sell crypto assets in an easy and safe way via Bittime .  Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.  

To be able to buy crypto assets on  Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

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Monitor price chart movements  of Bitcoin (BTC) ,  Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER:  This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.