PancakeSwap announces 2.4 million ZK airdrop to reward community

by

As a researcher with a background in blockchain technology and decentralized finance, I’m excited about PancakeSwap’s recent announcement of an airdrop for its community members. With my experience in following the growth of various DeFi projects, I can appreciate the significance of this event.

According to a recent announcement made on Friday, the decentralized exchange (DEX) protocol, PancakeSwap, is distributing a substantial amount of 2.4 million ZKSync (ZK) tokens through an airdrop to its users.

PancakeSwap will distribute a sum of 2,452,128 ZK tokens in recognition and appreciation to both established supporters and newcomers who are actively participating in the PancakeSwap community and contributing to its growth as part of an airdrop event.

PancakeSwap’s ZK airdrop period

The airdrop began on July 5, 2024 at 10:30 am UTC and is scheduled to continue until August 5, 2024 at the same time.

As a crypto investor, I understand that PancakeSwap has a policy of reclaiming any unclaimed tokens at the end of the specified period. These tokens will then be directed towards supporting the ecosystem’s future growth through funding development projects and community initiatives.

Allocation

PancakeSwap has categorized eligible users into three groups for allocation purposes: those who hold veCAKE tokens, previous contributors, and new contributors.

veCAKE holder and previous contributors will receive 26.5% and 27% of the total 2.4 million ZK tokens respectively in the airdrop. Those who have contributed to the ecosystem in the past are included in this category. For new contributors, they will receive 46.5% of the tokens. The snapshot for veCAKE holders and earlier contributors was taken between July 26, 2023, and June 26, 2024. However, for participants in the traverse campaign, the snapshot period is from July 27, 2023, to September 27, 2023.

As a crypto investor, I’ve been closely following the developments at PancakeSwap since it was deployed on ZKsync in July 2023. Over the past year, this decentralized exchange (DEX) platform has experienced remarkable growth. Some of its key achievements include:

Trading volume on PancakeSwap experienced a significant increase, exceeding $3.6 billion, while the total value locked reached an all-time high of $5.8 billion. The platform’s user base also expanded rapidly in the past year, with over 1.9 million traders now using it.

Read More

2024-07-05 17:34