ZKsync up 24% to $550M after announcing new token utility plansZK will move from pure governance to using onchain and offchain fees for ZK buybacks and burns, funding protocol development and eco incentives + more https://t.co/VbG7o18Y2D ...

Market Trends - Capital is shifting from pure NFT plays to token and utility combinations [1] - NFT collections lacking token utility are facing sell-offs, highlighting the need to adapt [1] Project Performance (Pudgy Penguins) - Pudgy Penguins flipped Polygon to reach 43 overall rank [1] - 181 billion tokens ($546 million) moved to CEXs since July 12 [1] - Floor price is at 164 ETH [1] - AbstractChain integration is live [1]

Token Utility - HEST serves as a core functional token within the Hash Epoch ecosystem, facilitating participation in contests and settling platform transaction fees [1][2] - The token has financial applications, enabling users to stake HEST for interest income and borrow USDT through over-collateralization, enhancing capital efficiency [3][4] - HEST is used in LP mining, rewarding liquidity providers for HEST/USDT trading pairs with transaction fees and token incentives [5] Governance and Incentives - Staking HEST is required to become a node validator, participating in block verification and earning 10% of platform profit distribution [6] - HEST holders can participate in governance voting on platform rules and project listings [7] - The ecosystem incentivizes community engagement through HEST rewards for completing tasks like user referrals and social sharing [8] - Regular airdrops and contests are conducted to distribute HEST and reward winners [9] Ecosystem Expansion - Plans are in place to support cross-chain functionality with Solana and Ethereum, expanding into NFT markets and metaverse contests [10]