ZKSync Aims to Revamp Its Tokenomics Model

Welcome to The Protocol, CoinDesk’s weekly roundup of the most important stories in the development of cryptocurrency technology. I’m Margaux Nijkerk, a reporter at CoinDesk.

In this issue:

• The ZKsync proposal aims to link the ZK token to network entry
• Olas presents Pearl v1, the first ‘AI Agent App Store’
• Ethereum Developers Lock In Fusaka Upgrade for December 3 with PeerDAS Rollout
• Graph Builders, Edge & Node, present ‘ampersend’ Dashboard to manage AI agent payments

News Network

PROPOSAL TO CHANGE ZKSYNC TOKENOMICS: The creator behind the Ethereum network layer-2 ZKsync introduced a proposal to transform their ZK token from a governance tool into a token with real economic utility. The proposal, “From Governance to Utility: ZK Token Proposal, Part I,” published by Alex Gluchowski on the ZKsync community forum, outlines how network usage and enterprise licensing could directly bring value back into the token economy. The move could change how ZKsync’s ecosystem generates and distributes value. Instead of the operation of ZK purely as a governance token, the proposal would make the activities of the network, such as interoperability and the use of the company, directly influence its economy. The proposal argues that the network’s growing ecosystem, which now includes modular chains, private “Prividium” networks and a cross-chain interoperability layer known as the Elastic chain, needs a token model that evolves with it. “The ZK token started as a tool for governance,” the post says. “Through governance, it can now become the heartbeat of an incorruptible economy.” Under the plan, ZKsync will introduce two main revenue streams. The first comes from onchain interoperability fees, charged when users move assets or messages between rollups in the ecosystem. The second would be the entry of offchain licenses from enterprise tools such as compliance or reporting modules suitable for institutions that rely on the protocol. — Margaux Nijkerk Read more.

OLAS PRESENTS THE FIRST APP STORE TO AGENTS: Olas unveiled Pearl v1, a decentralized “AI agent app store” that allows users to own and operate autonomous AI agents, blending, he said, the ease of Web2 with the self-sovereignty of Web3. Unlike centralized AI platforms that rent access to users, Pearl gives full control and transparency: every action of the agent is verifiable on the chain. Users can start with familiar logins such as Google or Apple, fund agents via paper and maintain full data custody. Built on the principles of ownership, curation and transparency, Pearl offers a growing library of agents for finance, creativity and social cases. The introduction follows a beta success story where Modius, a decentralized financial trading agent, earned more than 150% return on investment in 150 days. “The centralized infrastructure has achieved an exercise and ​​global performance, but this concentration means that decisions or defects can remove the users of their data and work completely. This is why ownership is so important,” David Minarsch, a founding member of Olas, said in the release. — Will Canny Read more.

FUSAKA ON THE ETHEREUM MAINNET INTAINED IN: Ethereum developers have officially scheduled the Fusaka update for December 3rd. during the network’s bi-weekly coordination call. The decision begins the countdown to the second hard fork of Ethereum in 2025. The main feature of the update is PeerDAS. PeerDAS, one of 12 enhancements included in the release, it allows validators to check only portions of datarather than entire “blobs”, significantly reducing bandwidth requirements and cutting costs for validators and layer-2 networks. This will make Ethereum faster and cheaper, both for users making transactions and developers building on the network. The decision was finalized during the All Core Developers Consensus Layer (ACDC) call #168, just two days after the update was successfully deployed in Hoodi, the third and last testnet, without problems. The update will activate on the Ethereum mainnet when the blockchain reaches slot 13,164,544, expected to happen at 21:49 UTC on December 3rd. Margaux Nijkerk Read more.

EDGE & NODE EXIT WITH AMPERSEND: Edge & Node, the team that created it The Chartlaunched ampersanda management platform for coordinating how autonomous AI agents operate and transact, the company said. Built on top of Coinbase’s x402 payment protocol and Google’s A2A communication framework, ampersend adds automation, observability and compliance checks to what has become known as the “agent economy.” As AI agents begin to handle payments, data and communication on behalf of users and organizations, the lack of standardization has made their operations difficult to monitor. Coinbase is released x402, its agent payment protocol earlier this year. It is an open-source system that allows stablecoin instant payments on any website. Adding ampersand offers a single dashboard where businesses can set spending limits, manage policies and track activity across networks. Edge & Node developed the platform alongside Coinbase, Google and the Ethereum Foundation’s decentralized AI team. The system also integrates with emerging Ethereum standards such as ERC-8004, designed for agent discovery and reputation tracking. – Ian Allison Read more.

In other news

• The Gemini cryptocurrency exchange (GEMI) is planning a move into the prediction market sector, Bloomberg said. The exchange founded by Cameron and Tyler Winklevoss discussed unveiling the products as soon as possible, according to the report, citing people familiar with the matter. Gemini, what? became a trading company on the Nasdaq Global Select Market in September, he is looking at a move in an industry that has gained considerable traction in the last year. Market leaders such as Polymarket and Kalshi rose to prominence during the 2024 US election campaign during which more than $8 billion in bets were made on the former’s platform. This has prompted a number of other companies in the financial, technological and media sectors that aim to enter the market. Trump Media & Technology Group (DJT), the parent company behind President Donald Trump’s social media platform Truth Social, said last month. planned to roll out prediction markets in partnership with Crypto.com. — Jamie Crawley Read more.
• The United States Treasury impose fresh sanctions about a group of North Korean bankers and institutions accused of laundering millions in cryptocurrencies linked to cyberattacks and illicit IT work schemes that help finance Pyongyang’s weapons programs. The Office of Foreign Assets Control (OFAC) said eight individuals and two entities were designated for “laundering funds derived from cybercrime and computer worker fraud,” including proceeds related to ransomware and crypto theft. “North Korean state hackers are stealing and laundering money to fund the regime’s nuclear weapons program,” Treasury Under Secretary for Terrorism and Financial Intelligence John K. Hurley said in a news release. — Oliver Knight Read more.

Regulation and Policy

• Former FTX CEO Sam Bankman-Fried’s chances of getting a new trial appear to be diminishing, judging by the pointed questions of an appeals court during a hearing in Manhattan. Bankman-Fried’s push for a new trial depends largely on his long-standing argument that because the majority of FTX’s creditors were satisfied in the bankruptcy process – which relied heavily on the sale of illiquid assets including real estate investments and venture capital – there was, in fact, no actual theft. During defense attorney Alexandra Shapiro’s presentation, the appeals judges repeatedly questioned her arguments. “There is the right to present evidence as to his intention, absolutely, but I do not understand what you are saying here. [being] objective corroboration, when the objective corroboration seems that, well, after the bankruptcy, more money was made,” said Circuit Judge Eunice Lee. When Shapiro responded by saying that it was clear at the time of the bankruptcy that there were “very valuable assets in the FTX estate that corroborated the view of Mr. Bankman-Fried that. [FTX and Alameda Research] were solvents,” another judge, Circuit Judge Maria Araújo Kahn, pushed back, saying, “But [Bankman-Fried’s] misrepresentations were not of solvency, but liquidity … part of the government’s theory of the case is that the defendant lied to investors that their money was safe, it was not used in the way that was the government’s claims and the jury condemned that it was, in fact, used. So it wasn’t a question of solvency, right? It was a question of liquidity, whether they could get their money if they asked.” — Cheyenne Ligon Read more.
• President Trump reiterated his statement that he does not know who the founder of Binance Changpeng “CZ” Zhao is. during an interview with CBS News. Trump granted Zhao a presidential pardon in October, nearly a year after the executive pleaded guilty to violating the Bank Secrecy Act and served a four-month prison sentence. Trump told CBS’ Norah O’Donnell that Zhao “was treated really badly by the Biden administration,” describing the former Binance CEO as a “victim of government weaponization.” The president said he had been told Zhao “was set up,” and that his pardon was intended to ensure that the United States remained competitive in the cryptocurrency sector. “I don’t know the man at all. I don’t think I’ve ever met him,” Trump said during the interview with CBS. “Maybe I did. Or, you know, someone shook my hand or something. But I don’t think I’ve ever met him. I have no idea who he is. I was told he was a victim, like me and like a lot of other people.” During the CBS interview, Trump dismissed questions about conflicts of interest, emphasizing his focus on keeping the US “number one in crypto” and insisting that his children’s businesses were separate from the government. — Sam Reynolds Read more.

Calendar

• November 17-22: DevconnectBuenos Aires
• December 11-13: Solana BreakpointAbu Dhabi
• February 10-12, 2026: ConsentHong Kong
• February 17-21, 2026: Eth DenverDenver
• March 30-April. 2 of 2026: EthCCCannes
• April 15-16, 2026: Paris Blockchain WeekParis
• May 5-7, 2026: ConsentYou love me