Polyhedra Network has announced a switch to the ticker symbol ZKJ for its token, following a dispute with zkSync over the ZK ticker.
- Polyhedra Network adopts ZKJ ticker for its token.
- New ticker symbol ZKJ signifies a united community.
- Listing on HashKey Global scheduled for May 31, 2024.
- Joint statement with Polygon Labs and StarkWare on ZK ticker controversy.
- Polyhedra Network accuses zkSync of token ticker theft.
- Polyhedra Network’s valuation reaches $1 billion after $20 million investment.
Polyhedra Network Switches to ZKJ Ticker Amid Dispute with zkSync
Polyhedra Network will now use the ticker ZKJ for its token instead of ZK, signaling a shift in identity and a call for community unity. This change comes after accusations that zkSync had appropriated the ticker ZK.
New Ticker Symbol: ZKJ
The team at Polyhedra Network has chosen ZKJ, which stands for ZK Join, to represent an open and united community. This decision is detailed in a recent statement reported by The Block. The token will be listed under this new ticker on HashKey Global as of May 31, 2024, and will be used across all platforms trading the asset.
Joint Statement on ZK Ticker
On May 30, Polyhedra Network, Polygon Labs, and StarkWare issued a joint statement declaring the ZK ticker as a “public good.” They emphasized that it should not be monopolized by any single firm or corporation: “We urge the community to demand that Matter Labs withdraw all trademark applications and usage of the ZK ticker.”
zkSync’s Controversial Moves
Previously, Bybit had announced the listing of zkSync’s token under the ZK ticker. Polyhedra Network, having released its ZK token in March 2024, accused zkSync of ticker theft. zkSync plans an airdrop of its ZK tokens in early June 2024. Polyhedra Network co-founder Sandeep Nailwal criticized zkSync for actions contrary to Web3 principles, despite their claims of upholding these values.
Investment and Market Impact
In March 2024, Polyhedra Network secured $20 million in investments, boosting its valuation to $1 billion. This milestone underscores the project’s growing influence and the broader implications of its ticker dispute with zkSync.
Conclusion
Polyhedra Network’s switch to the ZKJ ticker is a significant move in the ongoing dispute with zkSync. The new symbol reflects a commitment to community unity and shared values in the crypto space. As the market evolves, the outcome of this dispute may have broader implications for token identity and intellectual property in the Web3 ecosystem.
