ZKSync Announces Airdrop Details for ZK Token with 17.5% Supply Allocation

  • Ethereum Layer-2 project ZKSync has revealed the details for its upcoming airdrop of ZK tokens.
  • The total supply of ZK tokens is 21 billion, and 17.5% of this will be distributed through the airdrop, according to a recent announcement by ZKSync.
  • “Community involvement is key to this initiative,” stated a spokesperson from ZKSync.

Discover the details of ZKSync’s ZK token airdrop, including distribution criteria, token allocation, and what users need to do to participate.

Key Details about ZKSync’s ZK Token Airdrop

Starting next week, ZKSync users will have until January 3, 2025, to claim their allocated ZK tokens. The tokens will be distributed to users who have interacted with ZKSync and met certain criteria, based on a snapshot taken on March 24, 2024, reviewing transactions made on both ZKSync Era and ZKSync Lite.

Distribution Strategy and Criteria

The 17.5% token allocation for the airdrop is divided such that 89% goes to users and 11% to contributors. Contributors eligible for token claims starting June 24 include developers, researchers, and companies who have significantly contributed to the growth and publicity of ZKSync. These contributors are selected without regard to blockchain transaction statistics.

Token Allocation Specifics

Of the total ZK token supply, 49.1% will be distributed through various initiatives within the ZKSync ecosystem. Investors will receive 17.2%, and Matter Labs, the developer of ZKSync, is allotted 16.1% of the tokens. Significantly, Matter Labs and investor tokens will be locked for one year, followed by a three-year vesting period from June 2025 to June 2028.

Community Prioritization in Airdrop Distribution

ZKSync Association has emphasized that their decision to allocate more tokens to community members than to Matter Labs or investors is not merely symbolic. As the governance system for ZKSync opens in the upcoming weeks, those with the most liquid token supply will hold significant influence over governance updates within the protocol.

Eligibility and Token Limits

The airdrop will be based on a points system considering activities such as using smart contracts on ZKSync Era and contributing liquidity to DeFi protocols. After points are distributed, tokens will be allocated based on assets bridged to ZKSync Era. Notably, wallets assigned fewer than 450 ZK tokens will have their share redistributed back into the pool. Similarly, wallets receiving more than 100,000 ZK tokens will have the excess tokens reallocated.

Matter Labs CEO Alex Gluchowski remarked, “This airdrop is designed to prioritize the community rather than whales. The cap of 100,000 tokens per individual wallet ensures broader, community-focused distribution.”

Conclusion

This comprehensive airdrop by ZKSync underscores the platform’s commitment to community engagement and equitable distribution. As the ZK governance system comes online, community members will play a pivotal role in shaping the protocol’s future.

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Jocelyn Blake
Jocelyn Blakehttps://en.coinotag.com/
Jocelyn Blake is a 29-year-old writer with a particular interest in NFTs (Non-Fungible Tokens). With a love for exploring the latest trends in the cryptocurrency space, Jocelyn provides valuable insights on the world of NFTs.
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