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ZKsync to Airdrop 3.675 billion ZK Tokens to Eligible Wallets Next Week
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ZKsync to Airdrop 3.675 billion ZK Tokens to Eligible Wallets Next Week

2024-06-12 by Ndaman Olayinka 5 minutes read
ZKsync to Airdrop 3.675 billion ZK Tokens to Eligible Wallets Next Week

ZkSync will introduce its own token, zkSync (ZK), and intend to airdrop roughly 3.675 billion of them.

Next week, Ethereum zero-knowledge (ZK) layer-2 scaler zkSync will initiate the largest token distribution from an Ethereum scaling project by distributing two-thirds of its 21 billion ZK token supply to community wallets.

According to a statement by ZKsync, there will be a first airdrop of 17.5% of the tokens in the coming week, while the remaining portion will be distributed through ecosystem projects and governance measures that the newly formed ZK Nation will vote on. 49.1% of the total token supply will be distributed through ecosystem initiatives, with 16.1% going to the Matter Labs team and 17.2% going to investors.

On day one, there will be no lock-up period and full liquidity for the airdropped tokens, which will be distributed to users wallets. The maximum number of ZK tokens that can be allocated to a single wallet during the airdrop is 100,000, according to what Matter Labs wrote in a press release seen by Whale Insider. Less than 0.5 percent of the entire supply would also be distributed to cryptocurrency holders, including Degen (DEGEN) and Bonsai Token (BONSAI) airdrop recipients, as well as game players and owners of Pudgy Penguins and Milady Maker non-fungible token (NFT) collections.

Users can begin claiming their tokens starting next week and have until January 3, 2025, to do so, according to ZKsync. This is a one-time airdrop. As of June 24, contributors can make claims. According to Matter Labs, the company behind the popular Ethereum scaling solution, 695,232 wallets were shortlisted by ZKsync for the airdrop. 

Contributors (11%) and users (89%) are the two community groups that share 17.5% of ZK airdrops. Users are those who have been active in the ecosystem, worked on ZKsync, and met functional requirements. Contributors, on the other hand, are developers, researchers, and companies that have contributed to zkSync L2

Disclaimer: This information should not be considered financial advice by any means. Please do your own research before making any investment decisions. The views in the articles are personal opinions only. Whale Insider is not responsible for any financial losses incurred.