CALL NOTES & RECORDING
Thanks to everyone who joined the Weekly Proposal Review Call! We discussed the Tally announcement, live program updates, introduced the new capped minter v3, and did a deep dive into the “Bank Stack” of Ethereum positioning of ZKsync.
Below is a collection of summarized notes and links shared in the call.
Proposal Review March 18 - Call Recording
Check out the video description for timestamps on different discussion topics. Given we have the recording, notes will be kept very brief. Please watch the recording for full context!
Governance Infrastructure Update
Tally Winding Down & Continuity Plan
As many saw in their recent announcement, Tally is winding down operations over the coming weeks. Raf from the Tally team joined to say a few words about their decision and what to expect over the coming weeks as they wind their team down.
The Governance Team has been working with the Tally team over the past week to find a good solution on how to ensure uninterrupted support for ZKsync governance and the Staking Pilot program. At this time, we believe we have found a solution that will avoid any interruptions or changes to the ZKsync governance for the foreseeable future. We will share more about this as soon as we can!
Secondary Interface Reminder: As a reminder, the secondary interface is live at alt.vote.zknation.io. While it doesn’t currently support staking at the moment, it is a fully functional backup for voting.
Live Token Program Updates
ZKnomics Staking Pilot - Season 1
Season 1 of the Staking Pilot is currently in Week 6. The program is successfully fulfilling its goals of testing infrastructure and parameters, as well as increasing active voting power via the delegate-to-stake mechanism.
- Current APR target: 8% (increasing by 1% each week up to 10%)
- Key Metrics:
- ~250M ZK staked (62% of the 400M season cap).
- 1.3M ZK distributed (out of a 10M ZK season budget).
- +146M ZK increase in net new active delegation since launch.
The “Active” tag on the staking interface (voting on 2 of the last 5 votes) has helped stakers direct delegation toward consistently engaged participants.
ZARP v1 Retrospective
The Security Council has posted the ZARP v1 Retrospective on the forum, detailing audit reimbursements and learnings that fed into ZARP v2.
Ecosystem Technical Updates
Capped Minter V3 Launch
The Governance Team worked with ScopeLift over the past months to develop and deploy the ZK Capped Minter V3! It maintains V2 functionality but adds two key features:
- Transferable Admin Rights: Allows updating the admin role of a capped minter contract
- Updatable Mintable Address: Allows child minters to point to a new minting source
Read more about capped minter v3 here: Introducing ZK Capped Minter V3
Capped minter v3 info has also been added to the Capped Minters 101 page.
The “Bank Stack” of Ethereum
A few weeks back, ZKsync published “The Bank Stack of Ethereum” blog post outlining the unique role ZKsync is aiming to play in the institutional onboarding era of crypto with Prividium at the forefront. This week, they announced a partnership with Cari to bring 5 major banks onchain via a tokenized deposit network.
Steven from the Matter Labs team joined to discuss ZKsync’s positioning as the “bank stack of Ethereum”. He talked about the market opportunity in the banking industry, and explains why the speed and privacy available through Prividiums is so attractive for banks. He also notes that while crypto originally had “anti-bank” roots, bringing banks onto ZKsync Prividiums allows the ecosystem the unique opportunity to guide them toward crypto-native values (privacy, transparency) rather than banks building isolated, incompatible private chains.
Listen to the full conversation starting at minute 29:40 on the recording.
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