ZKsync Announces Distribution of 3.675 Billion Tokens to Early Users and Adopters

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by Giorgi Kostiuk

2 years ago

Made with AI

ZKsync Initiates Airdrop of 3.6 Billion Tokens to Early Users and Participants

ZKsync Association is set to commemorate a significant occurrence in the cryptocurrency realm in the upcoming week through the allocation of 3.675 billion ZK tokens to pioneers and supporters of the Ethereum Layer 2 network.

This airdrop constitutes 17.5% of the overall supply of 21 billion ZK tokens. The tokens will be claimable from the following week until January 3, 2025, with requests open for submission commencing June 24.

Distribution and Governance

A substantial portion of the total token supply, 49.1%, will be disseminated via diverse ecosystem endeavors, while 17.2% are earmarked for investors and 16.1% for the Matter Labs team.

According to the ZKsync Association, the decision to allocate more tokens in the airdrop than to investors and the Matter Labs team signifies a notable gesture towards the community.

The Association stated, "Upon the launch of the ZKsync governance system in the imminent weeks, the community will possess a significant share of liquid tokens to propel protocol governance advancements."

Eligibility and Assignment

Relying on a snapshot taken on March 24, 2024, ZKsync has identified 695,232 wallets eligible for the airdrop. The airdrop is segregated into two categories: - Users (89%): Comprising individuals who meet specific activity criteria on ZKsync. - Contributors (11%): Encompassing developers, researchers, and involved community members who actively endorse the ecosystem.

Additional Distributions

The residual community allocation is set to be overseen by the ZKsync Foundation and dispensed gradually over time by means of ecosystem undertakings and the ZK Nation governance protocol.

Certain experimental communities, such as wallets engaging in activities within decentralized social networks and NFT ventures, will receive marginally under half a percent of the allocation.

Token Vesting and Restriction

Tokens designated for investors and the Matter Labs team will undergo a locking mechanism for the initial year, followed by a gradual unlocking spanning from June 2025 to June 2028.

This does not constitute investment advice.

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