Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
Despite initially saying that the bridged ether would be returned, ZKasino said it had converted the ether for ZKAS.Cryptocurrency casino ZKasino went live over the weekend, but the launch was met with dismay from investors, who are calling foul on the company for sending $33 million worth of user deposits to staking platform Lido.
ZKasino is an on-chain gambling platform that uses zkSync and EigenDA as well as Chainlink and Randomizer’s Verifiable Random Functions to ensure fairness. In March, itto earn ZKAS, the platform’s native token. Originally, the website said that bridged ether would be “returned” once the bridging period was over, that wording has since been removed.on April 20, ZKasino wrote that “all bridged ethereum has been converted to our native gas token, ZKAS, at a discounted rate of $0.055.
“This conversion was done as a favor to our users who have bridged to participate in the ecosystem,” it added. The $33 million worth of ether that was deposited by more than 10,000 users was subsequently sent by ZKasino to restaking platform Lido,in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.
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