ZKsync is gearing up to distribute 3.675 billion ZK tokens to 695,232 wallets in the upcoming week as part of its largest token airdrop. This initiative aims to promote decentralized governance and reward active community members within Ethereum’s first zkEVM chain.
The distribution, announced on June 11, will see 17.5% of the total supply of 21 billion ZK tokens being allocated to eligible wallets. The remaining tokens will be used for various initiatives, the zkSync team, investors, and a “token assembly.”
The airdrop will prioritize rewarding real users and contributors in the ZKsync ecosystem, with 89% of the distribution going to users who have transacted on ZKsync and 11% to contributors such as developers, researchers, and community advocates. Additionally, 49.1% of the token supply will be distributed through ecosystem initiatives, with allocations for investors and the Matter Labs team.
The ZKsync Association emphasized that awarding more tokens to the community than to investors and the team demonstrates a commitment to community-led governance. The ZKsync governance system is set to launch in the coming weeks, allowing the community to direct protocol upgrades with the largest supply of liquid tokens.
Community members can check their eligibility and claim their tokens through the claim portal starting next week. The claim period will run until January 3, 2025, with specific deadlines for GitHub developers and ZKsync GitHub Discussion Helpers to link their addresses by June 25, 2024.
Prior to the airdrop, ZK tokens were trading at $0.71 on pre-market exchanges like Aevo and PancakeSwap, indicating a market capitalization of approximately $14.91 billion.
The allocation process for the airdrop involves thorough activity assessments based on snapshots taken on March 24, 2024. Eligibility and allocations are determined by transactions on ZKsync Era and ZKsync Lite, value of assets bridged into the ecosystem, and genuine user engagement indicators like holding ZKsync-native NFTs and tokens.
A portion of the supply is reserved for experimental communities, including participants in decentralized social networks, gaming platforms, and NFT projects. The project aims to ensure fair distribution and prevent manipulation by industrial farmers.
Stay tuned for more updates on this exciting development from ZKsync!
