Mon, July 22, 2024

ZKsync Airdrop: 3.675 Billion Tokens for Community

FTX, robinhood, zksync

Quick Look:

  • ZKsync will distribute 3.675 billion ZK tokens (17.5% of the total supply) from January 3, 2025.
  • Users active on ZKsync Era and Lite who meet specific interaction criteria are eligible for the airdrop.
  • The initial token price was $0.66, now adjusted to $0.36, valuing the total at $1.32 billion.
  • A points-based system with a minimum allocation of 917 tokens and a maximum cap of 100,000 tokens per wallet.

ZKsync has unveiled the details of its upcoming token airdrop. A total of 3.675 billion ZK tokens, representing 17.5% of the total supply, will be distributed in this event. The total supply equals 21 billion tokens. This airdrop marks a major milestone in the platform’s journey. Thereby paving the way to commence next week and run until January 3, 2025.

The community allocation constitutes 17.5%, split into two primary segments: 89% directed to general users and 11% earmarked for contributors. Therefore, This strategic decision underscores the platform’s commitment to community involvement. Notably, the distribution breakdown allocates 49.1% to ecosystem initiatives, 17.2% to investors, and 16.1% to the Matter Labs team.

ZKsync Airdrop Eligibility: Activity-Based Criteria

Eligibility for the airdrop is determined based on user activity on ZKsync Era and ZKsync Lite platforms. Users who interacted with 10 smart contracts, deposited liquidity into a DeFi protocol, initiated five transactions using a paymaster, traded 10 ERC-20 tokens, or held a Libertas Omnibus NFT on ZKsync Era are eligible. Additionally, those who donated to a Gitcoin funding round or transacted at least three months before the ZKsync Era mainnet launch on ZKsync Lite also qualify. The claim period begins next week, with contributor claims starting June 24.

Initially, the pre-market price of ZK tokens was $0.66 per token. The final price, on the other hand, translates to a total valuation of $2.42 billion. However, recent updates have adjusted this to $0.36 per token, resulting in a revised valuation of $1.32 billion. This shift reflects the dynamic nature of the market and sets realistic expectations for the community.

Airdrop Points System Ensures Fair Token Distribution

The airdrop employs a points system to ensure a fair and equitable distribution of tokens. Points are awarded based on specific criteria, including interacting with smart contracts, depositing liquidity into DeFi protocols, trading ERC-20 tokens, donating to Gitcoin rounds, and engaging in multi-month transactions. Activity on ZKsync and Ethereum mainnet influences the multipliers applied to these points. To maintain balance, wallets with fewer than 450 ZK tokens and those with more than 100,000 tokens had their allocations adjusted through a recycling mechanism. This ensures a minimum allocation of up to 917 ZK tokens per wallet and a cap of 100,000 tokens per address.

All tokens will be fully liquid from day one to enhance liquidity and encourage active participation. This approach allows recipients to immediately utilise their tokens, fostering a vibrant and dynamic ecosystem.

Two-thirds of ZKsync Tokens Allocated to Community

Emphasising its community-first philosophy, ZKsync has allocated two-thirds of the total supply towards the community rather than the team and investors. This strategy prioritises real users over automated bots, enhancing genuine community engagement and governance.

Furthermore, accompanying this major airdrop, the platform has undergone a branding change from ‘zkSync’ to ‘ZKsync’. This rebranding reflects a fresh, revitalised identity, aligning with the platform’s community empowerment and technological innovation vision.

By distributing a substantial portion of tokens to active and engaged users, ZKsync rewards its loyal supporters and sets the stage for robust community governance and participation. As the claim period approaches, the anticipation builds for what promises to be a transformative event in decentralised finance.

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