TL;DR
- zkSync will distribute 3.68 billion ZK tokens to 695,232 eligible wallets next week.
- Eligible users must have interacted with the zkSync Era or zkSync Lite networks before March 24.
- The total token distribution includes 17.5% for the community, with the rest allocated to initiatives, the team, investors, and a “token assembly”.
zkSync, Ethereum’s layer 2 scaler, has launched its native token, ZK, and announced a significant airdrop for next week, which will distribute nearly 3.68 billion tokens to 695,232 eligible wallets.
This airdrop represents 17.5% of the total supply of 21 billion ZK tokens, with the rest reserved for initiatives, the team, investors, and a “token assembly”.
Introducing the ZK Token
Checker → https://t.co/O2UonCvfzi
Announcement → https://t.co/hjgI14PHoi
Docs → https://t.co/taWBoCnfbcIt’s time to put the ZK token into the hands of the community. It’s your turn to govern ZKsync’s future. pic.twitter.com/VD3fZgH5bf
— ZK Nation (@TheZKNation) June 11, 2024
The distribution of these tokens will primarily focus on network users, with approximately 3.27 billion tokens, or 89% of those designated for the airdrop, allocated to zkSync users.
Eligibility criteria include having interacted with at least 10 smart contracts, traded 10 ERC-20 tokens, or deposited liquidity into a decentralized finance (DeFi) protocol.
Each wallet can receive a maximum of 100,000 tokens in the airdrop.
Additionally, less than 0.5% of the total supply will be distributed to players of Crypto: The Game and holders of certain non-fungible token (NFT) collections such as Pudgy Penguins and Milady Maker, as well as recipients of Degen (DEGEN) and Bonsai Token (BONSAI) airdrops.
zkSync has emphasized that awarding more tokens through the airdrop than to its team and investors is not just a symbolic decision but a demonstration of commitment to its community.
This approach aims to strengthen user participation in the governance of the protocol from the outset.
Distribution and Governance Participation of zkSync
The remaining amount of ZK tokens is intended to be divided almost evenly between investors and the zkSync development team, Matter Labs.
These tokens will unlock over a period of three years, from June 2025 to 2028, ensuring a controlled and gradual distribution.
The estimated market value of the ZK token is around $14.91 billion, with a price of up to $0.71 on pre-market platforms like Aevo and PancakeSwap.
This preliminary valuation reflects strong interest and positive expectations within the crypto community.
Airdrop recipients will have immediate rights to participate in the governance of zkSync protocols, allowing them to directly influence future decisions and project development.
This token distribution model underscores zkSync’s decentralized and community-focused approach, highlighting the importance of active user participation.
The airdrop will begin next week and extend until January 3, 2025, providing a broad period for recipients to claim their tokens and integrate into the zkSync ecosystem.
This strategy not only distributes value but also promotes a more engaged and participatory community, paving the way for the project’s future growth and evolution.
