Matter Labs and Polyhedra are currently engaged in a dispute over the proposed ‘ZK’ ticker symbol for zkSync’s upcoming token generation event (TGE).
By Anisha Pandey
Edited by Julia Sakovich
Updated
3 mins read
Matter Labs, the company behind the Ethereum Layer 2 scaling solution zkSync, has decided to withdraw its recent trademark applications for “ZK”. This decision comes in response to significant backlash from the broader crypto community and notable zero-knowledge (ZK) technology researchers.
Last week, Matter Labs started trademark filings for the term “ZK” in nine different countries, claiming it as their intellectual property. Soon after, key players in the ZK space strongly opposed the move, arguing that ZK tech ought to remain a public good, accessible to all and shouldn’t be owned by one party.
Notably, ZK technologies are foundational cryptographic proofs that allow one party to prove possession of certain information without revealing the information itself. This technology is crucial for the scalability of Ethereum layer 2 networks and is employed by several projects, including zkSync, StarkNet, and PolygonZero.
The backlash culminated in a public statement from leading ZK researchers and executives from various organizations, including StarkWare, Polygon, Algorand, Polyhedra, and Kakarot. These experts stressed that such a move by Matter Labs would violate the ethos of the crypto community, the Ethereum community, and the academic principles that underpin ZK technology. They added:
“We believe that ZK is a public good that belongs to everyone. A company exploiting the legal system to annex a public good violates the crypto ethos, the Ethereum ethos, and the academic ethos. It even goes against Matter Labs’ own ethos, which states: ‘We can make this world better by increasing people’s freedom.’ If the company goes through with this, it will be separating itself from the very community it claims to be part of.”
Following the criticism, the company announced it would withdraw all trademark applications. On June 2, in a post on X (formerly Twitter), the company acknowledged the community’s concerns and admitted the difficulty in establishing a neutral governing body for the term.
“These discussions came down to one important fact: it would be impossible to agree on a group of people perceived as credibly neutral by nearly everyone. What could have worked for Ethereum would not necessarily work for the entire world,” the post stated.
Interestingly, Matter Labs and Polyhedra are currently engaged in a dispute over the proposed ‘ZK’ ticker symbol for zkSync’s upcoming token generation event (TGE). Regarding the trademark application by Matter Labs, Plyhedra stated:
“Do not implement monopoly in the name of community and industry development, and hope to withdraw the ZK trademark application.”
Meanwhile, zkSync’s TGE is reportedly expected to go as planned, with a tentative date set around June 13. The token will reportedly have a supply of 21 billion, with an airdrop event and official token launch following shortly after the TGE.
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With a background in finance and a passion for innovation, Anisha has been covering the ever-evolving world of crypto for over four years. Her deep understanding of the crypto market have made her a trusted source for analysis and news. Whether it's dissecting the latest trends or decoding whitepapers, Anisha is dedicated to bringing clarity to the world of digital assets.