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Home»EXCHANGE NEWS»ZKsync announces $3.67 billion ZK token airdrop to 695,000 wallets next week.
EXCHANGE NEWS

ZKsync announces $3.67 billion ZK token airdrop to 695,000 wallets next week.

By Crypto FlexsJune 11, 20243 Mins Read
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ZKsync announces .67 billion ZK token airdrop to 695,000 wallets next week.
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ZKsync has announced plans to give generous gifts to its loyal community members. According to presentation As a token of our gratitude, ZKNation will be distributing unlimited airdrops of 17.5% of the total token supply, or 3,675,000,000 tokens, starting June 17th. A significant portion of this will be airdropped at once with no vesting requirements, but the remaining 82.5% of tokens will be distributed gradually through various ecosystem developments.

ZKsync is a layer 2 scaling solution built to improve transaction speeds on Ethereum while reducing congestion by leveraging zero-knowledge proof rollups. This is the first zkEVM chain on the Ethereum blockchain. This leads to an extended answer to decentralized applications (dAPPs) that maintain strong security native to Ethereum.

How do I qualify for the airdrop?

The ZKAS token airdrop will distribute 17.5% of the total token supply through two primary channels. The first channels to receive 89% of this quota are users who have performed transactions on the ZKsync network and met certain activity thresholds. According to the announcement, the remaining 11% will be distributed to contributors “individuals, developers, researchers, communities, and companies who have contributed to the ZKsync ecosystem and protocol through development, advocacy, or training, regardless of their activities at ZKsync.”

It has been carefully implemented to deploy fair use activity thresholds, allocation formulas, multipliers, and Sybil detection to prevent any abuse. Additionally, the ZKsync distribution allocates a maximum of 100,000 coins per wallet to prevent whales from accumulating huge amounts of ZK tokens. Airdrops ensure that tokens are distributed more equitably among community members by limiting the biggest beneficiaries. This is a positive step that encourages participation and makes the ecosystem more active.

According to the details document, Addresses suitable for airdrop are assigned using a weighted value expansion formula that takes into account the ZKsync era of launch in the cryptocurrency wallet. For example, if a user sends 100 USD to an address during mainnet launch, this address is more likely to receive tokens than if a user sends 100 USD to an address a month before launch. Tokens will be moved directly to the ZKsync native project, which includes a treasury and contributors such as DeFi protocols, ZK Chain, NFT collections, marketplaces, infrastructure, games, etc.

How are the remaining tokens allocated?

Of the total 21 million tokens, the remaining supply will be further distributed: 17.2% to investors and 16.1% to the Matter Labs team. Tokens will have a lock-up period of one year and will be unlocked for three years from June 2025 to June 2028. The 17.5% airdrop to a significant number of wallets, 695,232, makes it one of the largest token distributions among recent major rollups.

ZK Token Distribution

The ZKAS token serves an important purpose by allowing holders to guide the evolution of the ZKsync protocol. Owners retain a voice in proposals that influence the future development and oversight of the platform, fostering a governance system in which there is no centralized control and everyone participates. This mechanism solves previous voting issues in decentralized autonomous organizations (DAOs) by not only strengthening the community but also ensuring transparent decision-making.

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