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Home»ALTCOIN NEWS»ZKsync allocates 3.6 billion ZK tokens to community airdrop
ALTCOIN NEWS

ZKsync allocates 3.6 billion ZK tokens to community airdrop

By Crypto FlexsJune 11, 20242 Mins Read
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ZKsync allocates 3.6 billion ZK tokens to community airdrop
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  • ZKsync announces the “Mother of All” airdrop.
  • The airdrop includes billions of ZK tokens.
  • Eligible users can request tokens starting next week.

The ZKsync Association on Tuesday announced the “Mother of All” airdrops during a major rollup featuring billions of ZK tokens to be distributed to eligible users next week.

ZKsync’s airdrop comes just one day after the Ethereum layer network launched ZK Nation, a new community-driven governance structure featuring three on-chain institutions: Token Assembly, Security Committee, and Guardian.

“Mother of all drops”

According to a blog post dated June 11, the ZKsync Association will airdrop 3,675,000,000 ZK tokens (17.5% of the total token supply of 21 billion) to select a group of users who meet the eligibility criteria.

This includes ZKsync users who have transacted on the protocol and met threshold activity, as well as developers, researchers, companies, communities, and individuals who have contributed to the advocacy and development of ZKsync.

“Eligibility and allocations for the airdrop were based on a snapshot of activity on ZKsync Era and ZKsync Lite taken on March 24th, 2024 at 0:00 UTC, marking the one-year anniversary of ZKsync Era mainnet launch.” The announcement read.

695,232 wallets were selected as airdrop candidates, with ZKsync noting that each address will receive up to 100,000 tokens, with no vesting or lock-up period and “fully liquid on day one.”

Learn more

In addition to using ZKsync’s native account abstraction to facilitate network fee payments, ZK tokens also allow holders to introduce and vote on protocol upgrades. According to the protocol, users can request airdrops starting next week until January 3, 2025, and contributors can request airdrops starting June 24.

Read why Solana recently punished a validator:
Solana punishes validators for sandwich attack after backlash

Stay up to date on the latest Bitcoin ETF flows:
Bitcoin ETF halts inflows for 19th straight day due to plummeting BTC price

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