ZKFair Community AMA Highlights: $10 Billion Market Value is not a Fantasy, but a Planned Community Revolution

On Jan 23rd, ZKFair Mod -yaya & Michal were attended ZKFair Community AMA. Since we've been flooded with many questions in the last couple of days. We can't wait to share the highlights from the AMA with you all.

⏰ Time: 23rd Jan 12:00 UTC

🗣️ Speakers: ZkFair Mod-yaya & Michal

Q1:In addition to the community, what technical advantages does ZKFair have compared to other L2s?

  • Faster and More Secure: ZK-Rollup employs zero-knowledge proofs to validate transactions, meaning once they are submitted to the main chain, they are considered final without any waiting period. Compared to other rollups, it does not rely on fraud proofs or challenge windows, making it more secure.

  • Less Gas Fees: Through Celestia's modular Data Availability (DA) technology, ZKFair has achieved data scalability, significantly reducing the cost for users to interact with distributed applications (dApps).

  • Security and Enhanced Scalability: As a mature development kit, Polygon CDK provides tested security measures and stable infrastructure. This ensures the safety and reliability of the ZKFair platform, minimizing potential security vulnerabilities and operational disruptions. The Polygon CDK aids in the rapid development and deployment of complex blockchain applications, fostering quick ecosystem growth.

Q2: How will ZKFair address potential challenges and foster an inclusive environment for both experienced and new users within the community?

We indeed have a few potential challenges:

  • The competition in Layer 2 blockchain solutions is growing, notably for existing users. The market is filled with various technologies like Optimistic Rollups and ZK Rollups, enhancing blockchain efficiency and scalability. The rising demand for efficient, low-cost solutions attracts investors, increasing competition. But Early Ethereum users, accustomed to their network, may hesitate to switch to new solutions like those offered by zkFair, posing a challenge for gaining their acceptance.

  • ZKFair faces community growth and governance challenges. In just a month since its mainnet launch, it's gained over 560K early users and a TVL of $342 million. With a growing social media base of 88K Twitter and 160K Discord users, managing community governance, increasing engagement, and establishing future equity distribution are key for its ongoing success.

  • ZKFair's long-term growth hinges on its ecosystem development. Attracting more developers is essential for innovation and advancing the network, leading to practical applications. A strong, stable ecosystem is key to attracting users and enhancing community engagement, security, and decentralization.

Moving on, I will share more on how to Address These Challenges

  • User Education: Providing more educational materials, tutorials, and resources to empower new users and help them understand the platform.

  • User Support Services: Establishing robust user support services to assist both experienced and new users, addressing their queries and concerns, and offering guidance.

  • Ecosystem Development: Actively building and expanding the ecosystem, offering diverse opportunities and services to meet the needs and interests of a broad user base.

By addressing these aspects, ZKFair can ensure its ecosystem's sustainability and growth, furthering its impact on blockchain space.

Q3: Will ZKF be used as gas token in the future?

We currently use USDC as the gas token, as explained in our previous response. However, our strategic partner, Lumoz, is planning to launch more new chains, and it is possible that ZKF will be used as the gas token for these chains. The final decision on the feasibility of this will be determined by vote within the ZKFair community.

Furthermore, it appears that the underlying question pertains to the future practical applications of the ZKF token. For this, we would like to share the two most significant use cases for our ZKF token.

Holders or stakers of ZKF will have chances to receive potential airdrops from future projects within the ZKFair ecosystem.

Holders or stakers of ZKF will have opportunities to get potential airdrops from future chains on Lumoz. Additionally, we will explore and create more diverse use cases for the ZKF token, as it is one of our ongoing goals.

Q4: How do you plan to use the points you accumulate through staking in the future?

The current staking points are determined by multiplying the amount of ZKF tokens staked by the staking period weight. It is primarily used to allocate and distribute profits from gas fees. Additionally, ZKFair is preparing to launch the Launchpad feature, where ZKF stakers will have the opportunity to potentially receive airdrops from future ecosystem projects. Considering the unique circumstances of each project, the ZKF staking points will play a crucial role in calculating the allocation of these airdrops, making it an integral component of the Launchpad functionality.

Q5: If ZKFair deviates from its values, it will hinder its potential. Do you think this principle is relevant to ZKFair's project ecosystem?

The long-term sustainability of ZKFair is undeniably linked to the development of its ecosystem. However, first and foremost, we want to assure everyone that ZKFair will always remain true to our core values. The community-driven concept will never be compromised. We have consistently emphasized the invaluable assistance provided by our community in all our articles, tweets, and activities. We acknowledge that without the community, we would be nothing.

Furthermore, we approach ecosystem projects with the same mindset. We aspire to have more high-quality projects embrace the 100% Fair Launch model. For upcoming projects launching on ZKFair, we will require project teams to initiate their launch with a low valuation and a 100% Fair Launch mode. While upholding this commitment to innovative concepts, we will also strengthen our project evaluation process, including but not limited to assessing team backgrounds, specific implementation of economic models, technological aspects, and subsequent market operational capabilities. This ensures the flourishing and stability of the entire ecosystem.

Q6: Is there any airdrop/gas sharing for upcoming project builders?

What is attracting developers? How do you ensure developers will come to ZKF? We will definitely offer early support and assistance, both in terms of technology and grants, to exceptionally promising developers. In the current design of L2 Gas fee sharing, 25% of the profits are automatically allocated to the dApp developer. Here are the attractive features for developers:

  • ZKFair's innovative concept of 100% Fair Launch and its technological advantages.

  • The industry-first L2 gas fee sharing model.

  • The current thriving ecosystem development and the accumulation of a large and loyal community.

    Market-driven and technology-driven factors are the primary drivers in the cryptocurrency industry, and ZKFair possesses both of them. For a project, choosing ZKFair is an excellent decision.

Q7: When you reach the 10 billion goal, what will you do for our community, and how will it develop after the 10 billion goal?

Indeed, in the ZKFair roadmap, the $10 billion target is just the first step. While we aim for the stars, it is crucial to remain grounded and focused, as this is the most important initial step. However, I can also disclose that after achieving the $10 billion target, we have further plans:

  • Continuously expanding the development of the ecosystem to provide more rewards and benefits for our community members, further giving back to their support and participation.

  • Establishing robust community governance and participation mechanisms.

  • Listening to the community's voice, continuously improving our technology, and launching various new features to meet the growing needs and challenges. For example, in the future, we will support cross-chain assets with the BTC ecosystem and more.

    Of course, as a 100% community-driven project, the future development of ZKFair largely depends on the community's opinions and feedback.

Q8: How does ZKFair plan to sustain its operations and growth given that it’s a 100% community-owned project?

Our goal is to become a fully community-governed and community-driven Layer 2 solution. In the future, users staking ZKF will also gain voting rights, and the development of ZKFair will be entirely determined by the community. We have received a plethora of suggestions from users through our proposal activities on the forum, and we have not forgotten them. Once the voting functionality is launched, we will initiate proposals promptly and welcome the community's votes.

ZKFair is currently in its early stages, and it took many pioneering L2 projects years to establish their existing ecosystems. As a rising star, ZKFair has engaged with numerous high-quality project teams (100+ in the past few weeks) and has also witnessed the challenges of building an ecosystem. We hope the community can grant us more time, as we are committed to providing a satisfactory response to everyone.

Q9: Will ZKF stakers get NFTs in the future? Do you plan to open the NFT market?

Last week, we announced our partnership with Space ID to jointly launch the .zkf domain, and the whitelist campaign is now live. Qualified ZKF token stakers will have the opportunity to mint .zkf domains for a mere 1 USDC. These .zkf domains will also serve as a credential for upcoming project airdrops. Furthermore, Space ID will support the future trading of .zkf domains. In addition, we recently unveiled our collaboration with Element, and we have exciting plans for a joint NFT venture. The circulation and transfer of .zkf domains and NFTs will naturally require the support of an NFT marketplace. We eagerly anticipate the deployment of more exceptional NFT marketplaces on the ZKFair platform. Moreover, we have an exclusive revelation to share. We are actively preparing for ZKF's very own PFP NFTs, and our talented designers are diligently perfecting details. It may take some time, stay tuned!

Q10: What is ZKFair's next market plan? How do we ensure that we can reach our goal of a $10 billion market capitalization in the new bull market?

  • Community Governance: ZKFair aims to become a fully community-governed and community-driven L2, and we will soon elect 11 community co-governors through a campaign in the community, and the future development of ZKFair will be completely decided by the community.

  • Support BTC L2 asset cross-chain: ZKFair will also support BTC L2 asset cross-chain in the future, and we are already working on this technology. Please pay attention to the announcement.

  • Prosperous ecosystem: ZKFair welcomes ecological developers, a good public chain project can not be separated from excellent builders, attracting more excellent developers to build the ecosystem is one of our next priorities. At present, we are very happy to see some quality projects deployed on ZKFair, and we believe the community will see a richer ZKFair ecosystem. Currently, we are focusing on the following tracks: AI Infra, AI agent, Game, Basic Defi Protocol, Depin, Bitcoin Ordinals, Bitcoin Layer2, ZK Applications, web3 powered consumer apps. These tracks have great potential for development. All these directions have great potential for development, and we believe that the ZKFair ecosystem will become more and more prosperous.

  • Empowerment: ZKFair's next market will screen high-quality projects for launch activities, Launched projects are also 100% fair launched. Of course, a portion of the tokens of the new project will be airdropped to loyal ZKFair users, such as to the users who have already participated in the $ ZKF pledge airdropped, and so on, and further empowerment of $ ZKF, while the new project, will also play its own game on its own. At the same time, new projects will also be empowered by their own gameplay to introduce more users to the ecosystem. ZKFair ecosystem is becoming more and more prosperous and at the same time continues to empower $ZKF, $ZKF value is getting higher and higher will also attract more good developers to invest in it. This is a very benign competition. At the same time, we also continue to iterate the technology update, support more features to serve you.

Q11: How will the ZKFair eco-system develop next and what are the requirements for projects to join?

Building a robust on-chain ecosystem remains our top priority. Currently, we have received applications from over 150 projects seeking to join the ZKFair ecosystem, and we have recently received some promising news. Additionally, we are actively engaging with projects that have already deployed or are interested in deploying on ZKFair to discuss the viability of the Fair mode. We have introduced the Fair Launchpad application, through which high-quality projects will undergo a 100% Fair Launch at a conservative valuation, contributing to the growth and profitability of the ZKF ecosystem, thereby benefiting all ZKF users.

In terms of project onboarding requirements, we assess applications based on various dimensions, including security, product completeness, and user experience. Security is of paramount importance, and our team conducts thorough code and contract audits before granting entry. Furthermore, to ensure a diverse and vibrant ecosystem, we are actively communicating with projects in potential areas such as AI Infra, AI agents, Games, Basic DeFi Protocols, Depin, Bitcoin Ordinals, Bitcoin Layer2, ZK Applications, and web3-powered consumer apps. High-quality projects receive early support and assistance from us. We believe that the community will witness a flourishing ZKFair ecosystem in the near future.

Q12: Does ZKFair have any further plans to join other exchanges?

As widely known, our official token, ZKF, was listed on more than ten exchanges within a single day, including Bybit, Kucoin, Bitget, Gate, HTX, MEXC, BitMart, and others. This not only brought ZKFair access to more channels and users but also significantly boosted ZKFair's market recognition and liquidity. We are actively communicating with other exchanges regarding their listing plans. However, due to confidentiality agreements with these exchanges, we are unable to disclose further information at this time. What we can reveal is that several top-tier exchanges have expressed interest in ZKFair and have initiated contact with us. We also encourage community users to contribute their efforts in helping ZKFair grow stronger. Every member's dedication combines to create a tremendous force that can overcome any obstacle.

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