ZKsync Proposes Utility and Revenue Focused Tokenomics Shift

ZKsync, the Ethereum Layer 2 leveraging zero-knowledge proofs, has revealed an updated tokenomics proposal for its native token ZK, which would shift it from a pure governance token to a utility token.According to a press release shared with The Defiant, the proposal will see value accrue to the ZK token via its on-chain interoperability fees, and offchain enterprise licensing income. These revenue sources will fund staking rewards, ecosystem funding, and a buyback and burn mechanism.The move addresses the lack of tangible value in governance tokens, and is an extension of the ZKnomics roadmap first published in June. This original outline highlighted the need for usage-driven revenue, programmatic distribution, and a gradual implementation of the ZKnomics shift.To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io