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4h ago

ZKsync Token Soars as Governance Approves Pilot Staking in Shift to Utility

A new fee-to-buyback design channels network earnings into burns, staking payouts, ecosystem funding.

Zksync price rallies 170% in 2 days as zk token moves toward utility

Overview

  • ZK has climbed about 170% from the Oct. 10 low to a recent peak near $0.075, with price now consolidating above roughly $0.048 support.
  • Matter Labs CEO Alex Gluchowski outlined the “From Governance to Utility” framework to convert ZK from a pure governance token into a utility-bearing asset.
  • A governance vote labeled TPP-12 passed with about 905.6 million ZK in favor, clearing a pilot staking program for token holders.
  • The plan captures on-chain interoperability fees and off-chain licensing revenue for market buybacks that are allocated to periodic burns, staking rewards, and ecosystem grants.
  • Reporting notes the rally followed growing attention on ZKsync’s Atlas work, including a public endorsement from Vitalik Buterin, while analysts caution outcomes hinge on sustained fee generation.