Polyhedra’s Phoenix Revival: Stakers Rewarded After ZKJ Liquidity Crash – What’s Next?

Key Points

1. Polyhedra's Phoenix Revival Program targets users who staked ZKJ tokens on Ethereum or Binance Smart Chain as of June 15, 2025, at 13:00 UTC.

2. The ZKJ token crashed 90% on June 15 due to a $4.3 million liquidity withdrawal and subsequent sell-offs, causing over $97 million in long position liquidations.

3. Community backlash arose because the program omitted a previously promised buyback commitment, leaving many investors dissatisfied.

4. Polyhedra injected $30 million in stablecoins into its DEX pools and announced a temporary buyback, but failed to stabilize the token's price.

5. As of press time, ZKJ was trading at $0.1962, down 6.25% on the day and 82.65% over the past year, with a 94% loss from its March 2024 peak of $4.01.