Polyhedra Network launches staking following ZK trademark drama resolution

Polyhedra announced the launch of a temporary staking program offering participants ETHFI, ID and CYBER tokens worth a total of $1.13 million in USDT.

Polyhedra Network, the developer behind zkBridge, announced the launch of a temporary staking program offering participants a total of 1.13 million USDT worth of tokens.

The four-week staking event allows the network’s token holders to stake their ZKJ tokens in exchange for rewards in ETHFI, ID, and CYBER tokens, Polyhedra said in the Notion announcement. The program, which runs until July 11, requires participants to stake their tokens for at least one week; Those who want to win a reward of at least $100 must stake 1,000 ZKJ tokens, which are worth approximately $1,110 at current market prices.

The latest development comes shortly after Matter Labs, the company behind the zkSync layer-2 solution, abandoned attempts to trademark the term “ZK” following backlash from the crypto community. The decision came three days after senior ToM researchers criticized the move, arguing that ToM innovations should be considered a public good accessible to everyone.

The controversy began when Matter Labs filed a trademark for “ZK”, aiming to create exclusive intellectual property rights, despite it being used by Polyhedra Network as its own token. In response, Polyhedra Network changed the code to “ZKJ” and condemned Matter Labs’ actions as “a robber and thief, not a blockchain founder.”

Matter Labs announced that it has applied for trademarks related to ZK to ensure that ZK can be used freely with names associated with the company, such as “ZK Sync” and “ZK Stack”.