Polyhedra Rises from the Ashes with Phoenix Revival Program

Rewards for Loyal Stakers

Polyhedra just dropped the Phoenix Revival Program, and it's a game-changer for those who stuck with them during the wild liquidity crisis on June 15. This isn't just a pat on the back; it's a full-blown thank you to the die-hard fans.

Who Gets the Goodies?

Launched with a bang on July 1, this program zeroes in on the on-chain Polyhedra Network (ZKJ) stakers who were holding strong on Ethereum or BNB Chain at 13:00 UTC when the market went haywire. If you were one of them, get ready for some sweet perks! Early access to future ecosystem airdrops and a slice of the pie from upcoming Polyhedra goodies like the ZKML platform, a privacy-preserving stablecoin, and a dark pool trading protocol are up for grabs.

Staking Power = Bigger Rewards

The more you staked, the more you rake in. It's that simple. The Phoenix Revival Program is a key piece of Polyhedra's grand new strategy, and they're not holding back on the details.

A New Focus on Zero-Knowledge

Polyhedra's roadmap is taking a sharp turn towards zero-knowledge infrastructure. They're rolling out the big guns with the upcoming Dark Pool decentralized exchange, a privacy-focused stablecoin that's ready for compliance, and their ZKML inference engine. Oh, and don't forget EXPchain, a Layer 1 blockchain designed specifically for zk apps. It's a full-blown revolution!

The Crash That Shook the World

June 15 was a day that will go down in crypto history. Polyhedra's ZKJ token took a nosedive from around $2 to under $0.35, thanks to a coordinated liquidity withdrawal on PancakeSwap. One wallet yanked $4.3 million in LP tokens and then dumped over 1.5 million ZKJ in a flash. It was chaos!

Suspicions and Liquidations

Things got even crazier when a Wintermute-linked wallet started dumping more ZKJ on exchanges during the same time frame. It raised eyebrows, but no direct link to the attack has been confirmed. And if that wasn't enough, Bybit saw up to $97 million in leveraged long positions wiped out in just two hours. Talk about a bloodbath!

The Fight to Recover

Polyhedra didn't just sit back and watch. They threw $30 million in stablecoins into DEX liquidity pools and kicked off a token buyback plan. But ZKJ is still struggling, trading at $0.205 as we speak. That's an 89% drop this month and a whopping 94% off its all-time high of $4.01 from March 2024.

Sticking to the Long Game

Despite the rollercoaster ride, Polyhedra's team isn't backing down. They're all in for long-term product delivery and rewarding the loyal stakers who weathered the storm with them. It's a story of resilience, and the Phoenix Revival Program is just the beginning.