ZKsync reveals plans for ZK token airdrop. Early adopters will receive 3.675 billion ZK tokens as part of the token airdrop.
ZKsync Association is proud to announce a groundbreaking event in the blockchain arena. A token airdrop set to revolutionize the landscape for nearly 700,000 eligible wallets. Alex Gluchowski, the CEO of Matter Labs, is at the forefront, demonstrating a steadfast dedication to empowering genuine individuals.
This initiative, scheduled to commence next week, represents a critical juncture in decentralized finance, and a significant impact and innovation.
Revealing the Mechanisms of ZK Token Distribution
The ZKsync Association is preparing to distribute 17.5% of the ZK token’s total supply, equating to 3.675 billion tokens, to early Ethereum Layer 2 network adopters. From the upcoming week until January 3, 2025, users can claim their tokens through this singular, monumental airdrop opportunity.
Additionally, contributors may claim their share as of June 24. A deliberate allocation is evident in the distribution strategy, with substantial portions designated for community-driven initiatives, underscoring a dedication to decentralized governance and development.
One notable feature of this allocation strategy is the intentional decision to distribute a significant portion of the tokens to the community through the airdrop, superseding the allocations to the Matter Labs team and investors. This action reinforces the association’s commitment to promoting community-driven governance, guaranteeing that stakeholders have a significant role in determining the protocol’s future.
Activity snapshots captured on March 24, 2024, were used to meticulously determine eligibility and allocations for the airdrop, which marked a significant milestone in the ZKsync Era. A total of 695,232 wallets were shortlisted. Two distinct categories of community members—users (89%) and contributors (11%)—are allocated 17.5% of the ZK token allocation.
Contributors comprise a wide range of individuals, such as developers, researchers, and community advocates, while users have actively transacted on ZKsync and have met predefined activity thresholds. Furthermore, experimental communities get a portion of the supply, encouraging innovation and investigation within the ecosystem.
Utilizing a Points-Based System to Engage the Community
Community airdrop will be on a points-based system, in which wallets accumulate points for various actions, such as trading more than 10 ERC-20 tokens, depositing liquidity into DeFi protocols, and interacting with ten smart contracts on ZKsync Era. This complex system encourages users to engage and participate in the ZKsync ecosystem by rewarding them for their contributions and involvement.
After allocating points, wallets are assigned based on bridged assets to the ZKSync Era, with multipliers applied based on network and Ethereum mainnet activity. Surplus tokens are recycled back into the pool to guarantee fair distribution, resulting in a minimum allocation of up to 917 ZK per wallet.
It is important to note that airdropped tokens are immediately liquid and do not require vesting or lock-up periods, allowing beneficiaries to control their assets. Although concerns regarding selling pressure may arise, Gluchowski highlights the critical role of community governance, encouraging recipients to develop the protocol’s future actively.
