Polyhedra Network, a decentralized finance (DeFi) platform, has accused zkSync of “bullying” after the latter announced its decision to use the ticker symbol ZK for its network. The announcement was made on Friday, causing a stir in the DeFi community.
Polyhedra Network, which is built on the Ethereum blockchain, claims that zkSync’s decision to use the ZK ticker symbol is a direct attack on their brand and a violation of their intellectual property rights. The platform has been using the ZK ticker symbol since its inception and has built a strong brand around it.
In a statement released on their official Twitter account, Polyhedra Network expressed their disappointment and frustration with zkSync’s decision. They accused zkSync of “bullying” and stated that they will not stand for such actions. The statement also mentioned that Polyhedra Network has reached out to zkSync to resolve the issue amicably, but have not received a response.
The DeFi community has been quick to react to this controversy, with many expressing their support for Polyhedra Network. Some have even called for a boycott of zkSync until the issue is resolved. However, there are also those who believe that zkSync has the right to use the ZK ticker symbol as it is a commonly used abbreviation for zero-knowledge proofs, which is a key technology used in their network.
In response to the backlash, zkSync has released a statement clarifying their decision. They stated that they have been using the ZK ticker symbol internally for a long time and have only recently decided to make it public. They also mentioned that they were not aware of Polyhedra Network’s use of the same ticker symbol and have no intention of causing any harm to their brand.
The controversy has raised questions about the use of ticker symbols in the DeFi space. With so many projects and networks emerging, it is becoming increasingly difficult to find unique ticker symbols. This has led to conflicts like the one between Polyhedra Network and zkSync. Some have suggested that there should be a governing body to regulate the use of ticker symbols in the DeFi space to avoid such conflicts in the future.
Despite the ongoing dispute, both Polyhedra Network and zkSync have a common goal of promoting the use of zero-knowledge proofs in the DeFi space. Zero-knowledge proofs are a crucial technology that allows for secure and private transactions on the blockchain. Both platforms have been working towards this goal and have made significant progress in their respective networks.
In light of this, it is important for both parties to find a resolution to this issue and move forward in a positive direction. The DeFi space is still in its early stages and it is essential for projects to work together and support each other’s growth. The community also plays a crucial role in this, and it is important for them to remain united and not let such conflicts divide them.
In conclusion, the controversy surrounding the use of the ZK ticker symbol by zkSync has caused a stir in the DeFi community. While Polyhedra Network has accused zkSync of “bullying”, the latter has clarified their decision and stated that they have no intention of causing harm to their brand. It is now up to both parties to find a resolution and move forward in a positive manner. The DeFi community should also continue to support and promote the use of zero-knowledge proofs, which is the ultimate goal of both Polyhedra Network and zkSync. Let us hope that this issue can be resolved amicably and the DeFi space can continue to grow and thrive.
