Ethereum scaling solution zkSync is gearing up to launch its token, zkSync (ZK), and plans to airdrop nearly 3.68 billion tokens to its community next week.
On June 11, zkSync announced that 695,232 eligible wallets will receive 17.5% of the token’s total supply of 21 billion. The remaining tokens are reserved for various initiatives, the development team, investors, and a “token assembly.”
In pre-market trading on platforms like Aevo and PancakeSwap, ZK tokens traded up to $0.71, giving the tokens an estimated market capitalization of around $14.91 billion.
Eligibility for the airdrop requires wallets to have interacted with zkSync Era or zkSync Lite networks before the snapshot date of March 24, midnight UTC. To prevent Sybil attacks, zkSync set seven criteria, including interactions with ten smart contracts, trading ten ERC-20 tokens, or depositing liquidity into a decentralized finance (DeFi) protocol.
Each eligible wallet will receive a maximum of 100,000 tokens.
Additionally, less than 0.5% of the total supply will be distributed to players of Crypto: The Game, holders of the Pudgy Penguins and Milady Maker NFT collections, and recipients of the DEGEN and BONSAI airdrops.
Community Airdrop More Than Just “Symbolic”
The remaining one-third of the total ZK token supply will be almost evenly split between investors and Matter Labs, the team behind zkSync. This allocation comes after Matter Labs faced criticism last month for attempting to trademark “ZK,” a move they later abandoned.
Summary Review: ZkSync‘s upcoming airdrop is a significant milestone for the community, aiming to reward active users and further promote engagement within the ecosystem. With a substantial portion of tokens allocated to community members, zkSync is reinforcing its commitment to decentralization and community involvement. This move is expected to enhance the adoption and utilization of zkSync’s layer 2 scaling solutions, contributing to the broader growth and development of the Ethereum network.
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