Starknet zkLend announces native token ZEND, reveals airdrop and ambitious 2024 roadmap

9 Feb 2024

zkLend, a money market protocol built on the Ethereum layer 2 Starknet network, is preparing to launch its native token ZEND this year to enhance the utility of the platform.

In a February 7 statement, the platform explained that the tokens will be airdropped at an undisclosed time to platform users, who are currently contributing to the development and adoption of the platform.

Notably, the project has yet to reveal eligibility criteria or take a snapshot for the airdrop.

Ambitious roadmap

The token launch is in line with ZKLend's ambitious 2024 roadmap, which includes key features such as an isolated marketplace, a transaction builder interface, a vault strategy, and an upgraded V2 protocol version.

“These features will open up more ways for users to compose, modularize, and leverage their assets with seamless UX to deliver a product that is not only innovative and creative, but also fun to use. use".

Brian Fu, co-founder of zKLend, expressed excitement about the roadmap, saying it is designed “to capture and deliver the most value to our users as the ecosystem evolves.”

“Having established ourselves as the native currency market on Starknet, we look forward to supporting the continued growth of Starknet, including and beyond zkLend.”

Data from DeFillama shows that ZKLend is among the top five decentralized finance (DeFi) projects on Starknet. The total value of assets locked on the protocol is 6.25 million USD.

Source: DeFillama

It is also one of the most active contracts on the Starknet blockchain, boasting over 8 million transactions

Source: Starkscan

In addition to technical achievements, ZKLend's team also actively contributes to the Starknet ecosystem. Co-founders Jonathan Lei and Jane Ma play key roles in various committees of the layer2 network, including being core contributors to open source projects.

Starknet is an Ethereum Layer 2 scaling solution developed by StarkWare. The network uses ZK-Rollup technology to significantly enhance Ethereum's transaction throughput by up to 10x while significantly reducing transaction fees.

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