On March 12th, Polyhedra Network officially announced the ZK launch on OKX Jumpstart on social media platforms, and then the official website announced the completion of the snapshot at 16:00.
On May 12th last year, Polyhedra Network launched the zkBridge loyalty program supported by Galxe, allowing users to earn loyalty points by participating in zkBridge's cross-chain products, interacting with social media, and participating in the community. It hinted that accumulating loyalty points could lead to future airdrop opportunities.
In addition to zkBridge traders and Galxe zkBridge loyalty point users, Pandra King NFT holders, as well as participants in the Binance Web3 wallet airdrop, OKX Cryptopedia Season 11, and BNB Chain airdrop marathon activities, all have the opportunity to receive ZK airdrops.
Compared to projects such as Starkware and Zksync that focus on ZK scalability, Polyhedra Network is a ZK full-stack player that has designed and implemented the interoperable system zkBridge based on ZK. Its developed ZKP protocol can also improve the efficiency of existing zkRollup systems, balancing ZK interoperability and ZK scalability.
In terms of ZK interoperability, PolyHedra Network has implemented the industry-leading distributed ZK protocol deVirgo, and has used it to implement zkBridge and ZKDID, providing Web3 with a trustless and efficient interoperable infrastructure.
Related reading: "ABCDE: Why We Invest in Polyhedra Network?"
In addition, Polyhedra Network's financing lineup is also very luxurious, having received a total investment of $25 million in two rounds of financing, with leading investors including Binance Labs and Polychain Capital, as well as participants such as Animoca Brands, Dao5, ABCDE, Sparkle Ventures, HashKey Capital, Foresight Ventures, Kucoin Ventures, NGC Ventures, and Arcane Group.
One of the distinctive features of Polyhedra Network is its cross-chain NFT trading function. The Legendary Pandra King is a series of NFTs launched to provide interactive scenarios for users, and its accumulated trading volume on the BNB network has exceeded 12,000 BNB.
As a star-studded ZK infrastructure, the ZK airdrop is undoubtedly a long-awaited event for the community. However, the most noteworthy aspect of this airdrop activity is the repeated plunging and pumping behavior of Pandra King NFTs.
Pandra King NFT Plunged and Pumped Again Within Three Hours
The earliest information about Polyhedra Network's launch on OKX Jumpstart appeared at 2:00 PM, and according to element data, around 1:40 PM, there was a sudden and intense activity of trading Pandra King. Fifteen minutes after the announcement, the floor price of Pandra King had dropped from around 0.78 BNB to around 0.26 BNB, a nearly 67% drop within an hour.
The community speculated that holders who may have known the information in advance attempted to sell the NFTs at the maintained price range of 0.6 BNB to 0.8 BNB, as the announcement meant the snapshot had already ended, a common occurrence in previous airdrop situations.
However, it was soon realized that the snapshot time for Polyhedra Network was at UTC 8:00, which is 4:00 PM Beijing time.
As a result, a large number of users began to buy Pandra King, and its floor price quickly rose from around 0.15 BNB to over 0.6 BNB. The highest transaction occurred at a price of 0.8 BNB within three minutes before the snapshot.
After the snapshot time at 4:00 PM, Pandra King was quickly sold off again, and its floor price plummeted from around 0.7 BNB to 0.15 BNB within 10 minutes, experiencing nearly an 80% drop once again.
At the time of writing, the floor price of Pandra King is around 0.1 BNB, and without new stimulating news, it may be difficult to return to higher levels.
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