ZKFair: 'Gas Fee Reaches 1.48 Million USDC this Week, Highest Ever Recorded'

IconCrypto News Terminal22 Apr, 2024

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ZKFair: 'Gas Fee Reaches 1.48 Million USDC this Week, Highest Ever Recorded'

ZKFair, a Layer 2 network utilizing zero-knowledge proofs, recently announced via Twitter that its gas fees had reached an unprecedented high of 1,489,758.18 USDC. This remarkable achievement marks the highest gas fee ever recorded on the ZKFair network. According to ZKFair's announcement, 75% of the accumulated gas fees will be distributed to ZKF stakers as rewards for their contributions to the network's security and stability. Additionally, 10% of the fees will be allocated towards a buyback and burn program, further enhancing the value of the ZKF token. This latest development underscores the growing popularity and adoption of ZKFair's Layer 2 solution. As more users and applications migrate to the network, the demand for its services is expected to continue to surge, potentially leading to even higher gas fees in the future.

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