Crypto Exchange PancakeSwap Airdrops 2.4M ZK Tokens To Community, Rewards VeCAKE Holders And Past Contributors
In Brief
Crypto exchange PancakeSwap will airdrop 2.4 million ZK tokens to its community, rewarding longstanding contributors and new users.
Decentralized exchange (DEX) PancakeSwap revealed intentions to distribute around 2.4 million ZKsync’s ZK tokens through an airdrop to its community. This initiative aims to reward both longstanding contributors and new participants who actively participate in PancakeSwap.
The distribution of this airdrop is allocated, granting veCAKE holders 26.5%. The past contributors will receive a total of 27%, of which the liquidity providers will receive 15.5%, active traders will receive 10.5%, Traverse Campaign participants will receive 0.97%, Zsync Prediction users will receive 0.02%, and ZKSync Gauge Voters will receive 0.01%. Future contributors are set to get 46.5% of the airdrop, with liquidity providers receiving 36.5% and active traders receiving 10% of this allocated token amount.
The current distribution of the airdrop is exclusively available to veCAKE holders and past contributors. Future contributors will receive their airdrop at a later date. To claim ZK tokens, users are advised to link their wallets to the PancakeSwap homepage and initiate the claiming process. The tokens are claimable from today until 10:30 UTC on August 5th.
PancakeSwap Enhances Platform Capabilities With ZKsync, Attracts Over 1.9M Traders
PancakeSwap is a decentralized finance (DeFi) platform that facilitates cryptocurrency trading, allows users to earn rewards through staking and farming, participate in lotteries, and engage in governance voting. Operating on the Binance Smart Chain, the platform emphasizes fast and cost-effective transactions with minimal fees.
Throughout the last year, PancakeSwap has achieved progress on ZKsync by introducing key features like seamless Swaps, Yield Farming, Prediction Markets, Fiat On-Ramp, Position Manager, and more. These advancements have led to notable achievements, including exceeding a trading volume of 3.6 billion USD, a total value locked (TVL) of 5.8 million USD, and attracting more than 1.9 million traders.
ZKsync operates as a Layer 2 protocol built on Ethereum, offering scalable and smooth payment solutions through zero-knowledge rollup technology. Developed by Matter Labs, the platform emphasizes user-centric features. Its token was introduced in June and distributed via airdrop to initial users and contributors. Subsequently, the token has been listed on various cryptocurrency exchanges such as Binance, Bybit, Gate.io, and KuCoin.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
