ZKsync has canceled its liquidity rewards program “Ignite,” citing bearish market conditions.
ZKsync’s DeFi Steering Committee (DSC) said it will not renew ZKsync Ignite, its liquidity reward program, as the project shifts its focus to broader network expansion.
The DSC confirmed that Ignite’s second season will not proceed and that the program will be discontinued on March 17. This also cancels the reward allocation for period 6, the final phase of the program’s first season.
ZKsync said it would focus its resources on its Elastic Network, an architecture that aims to transform the platform into an ecosystem of interconnected zero-knowledge (ZK) chains. “Our long-term vision for ZKsync is increasingly centered on the Elastic Network, and we want to focus our resources to accelerate this becoming a reality,” the project stated.
