Markets News Report Technology
June 11, 2024

ZKsync To Conduct Airdrop Next Week, Allocating 3.675B ZK Tokens To Early Users And Contributors

In Brief

ZKsync will distribute 17.5% of the total supply of 21 billion ZK tokens to early users and contributors next week.

ZKsync To Conduct Airdrop Next Week, Allocating 3.675B ZK Tokens To Early Users And Contributors

Ethereum Layer 2 scaling solution, ZKsync (ZK), announced intentions to distribute 3.675 billion ZK tokens to early users and contributors next week. This allocation represents 17.5% of the total supply of 21 billion ZK tokens.

This distribution will be a singular occurrence, allowing users to claim tokens starting next week until the deadline of January 3rd, 2025. Early contributors will have the opportunity to claim their tokens beginning on June 24th. Additionally, 49.1% of the token supply will be distributed through the ecosystem plan. Within this allocation, 17.2% will be designated to investors, while 16.1% will be allocated to the Matter Labs team, a company behind ZKsync.

A total of 695,232 wallets have been shortlisted for participation in this airdrop. Eligibility and allocation are determined based on activity snapshots of ZKsync Era and ZKsync Lite taken at 0:00 UTC on March 24th.

Of the ZK airdrop, 17.5% is distributed among two groups of community members: early users (89%) and early contributors (11%). Users are individuals who engage in trading on ZKsync and meet the specified activity threshold. Contributors encompass a broader range of participants, including individuals, developers, researchers, communities, and companies, who contribute to the ZKsync ecosystem and protocol via activities such as development, publicity, or education.

Notably, the number of tokens issued to the community exceeds those allocated to the Matter Labs team and investors. With the upcoming roll out of the ZKsync governance system in the next month, the community will possess the biggest supply of liquidity tokens, empowering them to steer the protocol governance upgrade.

ZKsync Implements Points-Based Airdrop System, Encouraging Community Engagement

This airdrop is conducted on a points system, where wallets accumulate points through various activities. These include engaging with ten smart contracts on ZKsync Era, providing liquidity to decentralized finance protocols, as well as trading over 10 ERC-20 tokens. Points can also be earned for specific actions on ZKsync Lite, such as contributing to Gitcoin rounds or engaging in trading during three months before the launch of the project’s mainnet.

Once all points are allocated, each wallet will be granted distribution in accordance with the funds bridged to ZKsync Era. Addresses may gain multipliers depending on specific activity on the Layer 2 network as well as the Ethereum mainnet. Subsequently, addresses with holdings below 450 ZK tokens will see their assets returned to the pool, while excess tokens from addresses holding over 100,000 tokens will be recycled. Consequently, the minimal distribution per wallet will be 917 ZK, with a maximum of 100,000 tokens per address. Notably, there will be no vesting or lock-up period for the airdropped tokens.

ZkSync is a protocol engineered to streamline and optimize payments on the Ethereum network, employing zero-knowledge rollup technology. Through the utilization of zero-knowledge proofs and on-chain data availability, ZKsync guarantees the security of users’ funds, offering a safety standard akin to that of the Ethereum mainnet.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

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.

More articles
Alisa Davidson
Alisa Davidson

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.

Hot Stories
Join Our Newsletter.
Latest News

From Ripple to The Big Green DAO: How Cryptocurrency Projects Contribute to Charity

Let's explore initiatives harnessing the potential of digital currencies for charitable causes.

Know More

AlphaFold 3, Med-Gemini, and others: The Way AI Transforms Healthcare in 2024

AI manifests in various ways in healthcare, from uncovering new genetic correlations to empowering robotic surgical systems ...

Know More
Join Our Innovative Tech Community
Read More
Read more
Tokenized RWAs Are Bridging the Gap Between DeFi and TradFi
Opinion Top Lists Business Markets Software Technology
Tokenized RWAs Are Bridging the Gap Between DeFi and TradFi
June 24, 2024
Bitcoin’s Current Correction Level Still Below Average, Says Rekt Capital Crypto Analyst
Markets News Report Technology
Bitcoin’s Current Correction Level Still Below Average, Says Rekt Capital Crypto Analyst
June 24, 2024
Core Developers Open Source SRC Protocol’s Indexer Code, Including SRC-20, SRC-721, And SRC-101 Token Standards
News Report Software Technology
Core Developers Open Source SRC Protocol’s Indexer Code, Including SRC-20, SRC-721, And SRC-101 Token Standards
June 24, 2024
The Rise and Fall of Oracle’s Advertising Ambitions: A $2 Billion Dream Crumbles
Opinion Business Lifestyle Markets Technology
The Rise and Fall of Oracle’s Advertising Ambitions: A $2 Billion Dream Crumbles
June 24, 2024