Bridge back ETH at 1:1 ratio

ZKasino
3 min readMay 28, 2024

Bridgers to sign up and claim ETH

We are now initiating the 2-step bridge back process in which bridgers can sign up and bridge back their ETH at a 1:1 ratio. This post lays out the details about this process.

The ZKasino team is still working hard to make the project successful. We again want to assure everyone that we are here to deliver and continue our best efforts.

Bridge back process

We have initiated the process for bridgers to bridge back their ETH for those who choose not to be part of the ZKAS conversion. Bridgers can sign up by depositing their first received batch of ZKAS bridge rewards. Signing up forfeits the remaining 14 months of ZKAS release.

Bridgers have 72 hours (28 May 14:00 UTC — 31 May 14:00 UTC) to sign up.

Bridgers can find their ZKAS on the ZKasino EVM Chain and can deposit the ZKAS back into a smart contract controlled by ZKasino:

signup.zkasino.io

Please note:

  • Signing up is only possible with the original ETH bridge deposit address where ZKAS bridge rewards initially have been received at.
  • ZKAS bridge rewards can be found on the ZKasino EVM Chain: ZKasino Mainnet — https://rpc.zkasino.io — 88800 — ZKAS.
  • The sign-up page (signup.zkasino.io) will connect you to the ZKasino network and automatically check if you are connected with the original address.
  • Deposit your full ZKAS balance from the original address, but don’t worry when some ZKAS is taken to pay for gas fees.
  • For bridgers who moved their ZKAS prior to this announcement and are unable to sign up using the original address, we request you to reach out to us by e-mail: signup@zkasino.io.
  • Important: Bridgers who sign up forfeit their bridge reward allocation including the remaining 14 months of ZKAS release.

After 3 days the ability to sign up is closed and deposits are halted.

Data verification

In the following days sign-up data will be gathered. As soon as possible a new announcement will be posted with the data for public verification. The data will show which addresses will be able to claim their ETH.

Claim Portal

The claim portal will be opened after the data verification. Bridgers will be able to claim their ETH at a 1:1 ratio from a new, audited bridge contract on Ethereum Mainnet.

Summary

The timeline will be as follows:

  • ⁠72 hours to sign up for the bridge back process;
  • ⁠data gathering and sharing with the public for verification;
  • opening the claim portal.

We thank you for your patience.

We also thank all participants who continue supporting the ZKasino project.

New tokenomics

In the upcoming future we will present a new, updated tokenomics model. This will include an allocation for bridgers who have chosen to claim back their ETH. With ZKAS in more hands, especially early supporters, we make sure the token has a healthy distribution.

Stay up to date

Follow the latest updates on ZKasino over at https://twitter.com/Derivatives_Ape on X and https://t.me/ZKasino on Telegram.

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ZKasino

Decentralised betting platform built for Layer-2 ZK Rollups.