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Crypto.com-Backed StarkNet-Based ZKX Protocol Shuts Down on July 30 Due to Economic Challenges

The StarkNet-based derivatives protocol ZKX has announced its shutdown on July 30 due to economic challenges
By: DeepNewz • July 31, 2024
Crypto.com-Backed StarkNet-Based ZKX Protocol Shuts Down on July 30 Due to Economic Challenges

The StarkNet-based derivatives protocol ZKX has announced its shutdown on July 30 due to economic challenges.

Despite receiving investments from more than a dozen venture capital firms, including Crypto.com, the project faced low user participation, insufficient revenue, and a decline in token value.

As a StarkNet head project, the ZKX team has delisted all markets, closed all positions, and its founder cited minimal user engagement and dwindling revenues as primary reasons for the discontinuation.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.

StarkNet

Our articles are stored on Filecoin.

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