ZK Nation has taken a step in opposition to the longer term of the ZKsync (ZK) ecosystem, launching the vote casting course of for a new proposal that entails upgrading the ZK token contract and expanding the token burn mechanism.
The proposal calls for upgrading the ZK token contract from the present ZKTokenV2 model to ZKTokenV3 and introducing the “permissionless burn” feature within the plan.
The new model, offered as portion of the proposal, is a minimal growth of ZKTokenV2. ZKTokenV3 introduces three key enhancements aimed at managing the token provide within the ecosystem in a more clear and programmable plan. The indispensable is the public burn plan, which permits any token holder to completely burn any quantity of ZK tokens. This option will enable customers to voluntarily take part within the provision reduction course of.
The 2d most foremost innovation is the plan-gated burnFrom plan, which permits particular addresses to burn tokens from outlined accounts by plot of a rather just a few plan called BURNER_ROLE. This mechanism permits for managed burning of particular protocols or system formula.
The third feature is that one of the provide restrict of 21 billion ZK tokens would possibly be explicitly outlined within the elegant contract and made public. In the new model, one of the provide is no longer going to simplest be readable nonetheless would possibly even be robotically enforced for the interval of the minting of new tokens.
*Right here’s no longer investment advice.
