article<\/a>, the program targets on-chain Polyhedra Network (ZKJ) stakers who held tokens on Ethereum (ETH) or BNB Chain (BNB) at 13:00 UTC on the day of the crash. Eligible users will receive early access to future ecosystem airdrops and a share of incentives from upcoming Polyhedra products, including its ZKML platform, privacy-preserving stablecoin, and dark pool trading protocol.<\/p>\nThe size of each user\u2019s rewards will be based on their staking power at the time of the snapshot. The Phoenix Revival Program is part of the protocol\u2019s wider strategy shift, also announced alongside the initiative.\u00a0<\/p>\n
Polyhedra\u2019s roadmap will shift its focus to zero-knowledge infrastructure, which includes the upcoming Dark Pool decentralized exchange, a privacy stablecoin that is compliance-ready, and its ZKML inference engine. In addition, it plans to roll out EXPchain, a Layer 1 blockchain tailored for zk applications.<\/p>\n
<\/p>\n
The move follows one of the most severe events in the project\u2019s history. On June 15, Polyhedra\u2019s ZKJ token plummeted from around $2 to under $0.35, triggered by a coordinated liquidity withdrawal on PancakeSwap (CAKE). One wallet removed $4.3 million in LP tokens, then quickly sold over 1.5 million ZKJ.\u00a0<\/p>\n
Additional ZKJ deposits to exchanges by a Wintermute-linked wallet during the same window raised market suspicions, though no direct link to the attack has been confirmed. The situation was worsened by cascading liquidations on Bybit, where up to $97 million in leveraged long positions were wiped out within two hours.\u00a0<\/p>\n
Polyhedra later injected $30 million in stablecoins into DEX liquidity pools and launched a token buyback plan, but ZKJ has hasn\u2019t quite yet recovered. The token is trading at $0.205 as of press time, down 89% on the month. It\u2019s now 94% from its all-time high of $4.01 set in March 2024.<\/p>\n
Despite recent volatility, Polyhedra\u2019s team says it is committed to long-term product delivery and rewarding users who maintained their stake through the turmoil.<\/p>\n
<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Polyhedra has unveiled the Phoenix Revival Program, a new initiative aimed at rewarding users who stood by the project during its June 15 liquidity crisis. Announced on July 1 via…<\/p>\n","protected":false},"author":1,"featured_media":4594,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4593","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/4593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=4593"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/4593\/revisions"}],"predecessor-version":[{"id":4595,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/4593\/revisions\/4595"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/4594"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=4593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=4593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=4593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}