ZKsync to Airdrop 3.6 billion ZK Tokens To Eligible Wallets Next Week

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As a researcher with experience in blockchain technology and token economics, I believe that the ZKsync Association’s decision to distribute 3.675 billion ZK tokens through an airdrop is a thoughtful and inclusive approach to reward early users and contributors of their Layer 2 network. The allocation of 17.5% of the total token supply to the community, with a significant portion going to those who have been active on the platform, is a commendable move towards fostering a strong and engaged ecosystem.

Next week, the ZKsync Association intends to distribute a total of 3.675 billion ZK tokens as an airdrop to early adopters and users of their Ethereum Layer 2 network, ZKsync.

Approximately 695,232 wallets are qualified for the airdrop. The CEO of Matter Labs emphasized that “real people” would be prioritized in the distribution of rewards.

ZKsync Set For Airdrop

Approximately one out of every five ZK tokens, equivalent to 3.6 billion tokens, make up 17.5% of the total ZK token supply of 21 billion. The airdrop for these tokens, as announced by ZKsync, will only occur once and users can start claiming their tokens next week, with the deadline being January 3, 2025. Users contributing to the project will be able to claim their tokens starting from June 24, 2021. Further, ZKsync intends to distribute an additional 49.1% of the ZK token supply through various ecosystem initiatives. Among these allocations, 17.2% are set aside for investors and 16.1% for the Matter Labs team.

Giving a larger share of tokens in the airdrop to the community rather than Matter Labs and investors carries more significance than just symbolism. With the upcoming launch of ZKsync’s governance system, the community will possess the greatest number of liquid tokens to guide protocol upgrades through their decision-making power.

Details Of The Airdrop 

Based on ZKsync’s information, approximately 695,232 wallets met the criteria for the airdrop. The eligibility of these wallets was determined by examining their transaction history on ZKsync Era and ZKsync Lite as of March 24, 2024, at midnight UTC. This date held significance as it coincided with the first anniversary of the mainnet launch of ZKsync Era.

As an analyst, I’d rephrase it as follows: I’ll walk you through the distribution of the airdrop for ZK tokens. A substantial portion, amounting to 17.5% of the total supply, is set aside for this initiative. This allocation will be divided between two groups: users and contributors. For users, the proportion reaches 89%, meaning that 89% of the airdrop tokens will be distributed among individuals who have interacted with ZKsync and fulfilled certain activity requirements. The remaining 11% is earmarked for contributors, encompassing developers, researchers, advocates, educators, communities, and companies that have supported the ZKsync ecosystem in various ways. These contributions can take numerous forms, ranging from development efforts to educational outreach or simple promotion, irrespective of their engagement with zkSync.

The remaining portion of our community fund allotment will be dispensed via assorted projects. This task will be overseen by both the ZKsync Foundation and the ZK Nation governance mechanism. By doing so, we can foster a thriving community as more individuals join us. A token cap of 100,000 tokens has been established for eligible wallets in regards to the airdrop distribution.

As a researcher studying the details of this airdrop event, I would explain it as follows: “I’d like to clarify that this is not an airdrop solely for whales. Instead, it’s designed to be inclusive and favorable to our community members. By implementing a cap on large holders or whales, we ensure a fair distribution of rewards among those who have meaningfully contributed to ZKsync in various ways.”

I’d like to highlight that a minimal portion, less than 0.5%, of the allocation will be directed towards what are being referred to as “experimental communities.” These communities consist of wallets that have been active on decentralized social networks Farcaster and Lens, and have previously received the Bonsai and Degen airdrops. Notably, these ZK tokens, distributed through the airdrop, will not be subjected to any lock-up or vesting period, making them fully liquid from the get-go. Matter Labs CEO Gluchowski expressed optimism that most recipients would choose to engage in governance, delegate their tokens, and contribute to the ZKsync community as active members.

“This is a distribution of tokens for community governance. Our goal is that most of the recipients will engage in decision-making, transfer their tokens to trusted delegates, and become engaged members of our community. For those who choose not to do so, it would be more beneficial if the tokens are transferred to individuals who strongly support and care about our protocol.”

Other Major Airdrops

The ZKsync distribution aligns with those of EigenLayer and StarkNet. Previously distributed airdrops sparked discontent among recipients, as they believed they deserved a more substantial token allocation. The disappointment reached new heights with EigenLayer, which restricted participation for users residing in the US and certain other countries. Nevertheless, Matter Labs CEO Alex Gluchowski emphasized that thorough planning went into the ZKsync airdrop design.

As a careful analyst, I’ve given great consideration to the creation of our airdrop program. Realizing that not everyone will be satisfied, I’ve explored alternative solutions for those who may miss out.

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2024-06-12 18:03