Welcome to The Protocol, CoinDesk’s weekly wrap-up of the most important stories in cryptocurrency tech development. I’m Margaux Nijkerk, CoinDesk’s Tech & Protocols reporter.
In this issue:
Polyhedra Blames Liquidity Attacks for Sudden 80% Price Drop in ZKJ, Promises Buyback
UK Startup Optalysys Debuts Server for Blockchains
Kraken-Backed Ink Foundation to Airdrop INK Token, Starting With Aave-Powered Liquidity Protocol
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Network News
POLYHEDRA BLAMES LIQUIDITY ATTACKS FOR DROP IN TOKEN PRICE, RELEASES BUYBACK PLAN: Polyhedra, a crypto protocol, announced a buyback plan to restore trust after its token, ZKJ, plummeted over 80% in minutes. An initial post‑mortem released in Asian morning hours laid out various factors resulting in the collapse, including a supposed coordinated liquidity attack on PancakeSwap’s ZKJ/KOGE pool, substantial ZKJ deposits by market-making company Wintermute in
We współpracy z: https://www.coindesk.com/tech/2025/06/18/the-protocol-polyhedra-promises-buyback-plan-after-liquidity-attack
