Contributors can declare their tokens beginning June 24.
The ZKsync Affiliation is ready to distribute 3.675 billion ZK tokens to its group members starting subsequent week.
Introduced on Tuesday, the airdrop, which makes up 17.5% of the whole ZK token provide of 21 billion tokens, will run till Jan. 3, 2025. Contributors can declare their tokens beginning June 24.
As soon as claimed, ZK tokens can be utilized for governance throughout the ZKsync protocol, enabling token holders to vote on protocol upgrades and pay community charges.
ZKsync is the third-largest zero-knowledge proof-based Ethereum Layer 2 scaling resolution, with over $750 million of belongings within the community, based on L2Beat.
Token Allocation
Based on a weblog put up by ZKsync, 49.1% of your complete token provide shall be allotted to varied ecosystem initiatives. Moreover, 17.2% of the tokens are reserved for buyers, and 16.1% will go to Matter Labs, the corporate creating ZKsync. These crew tokens shall be locked for one 12 months and can steadily unlock from June 2025 to June 2028.
“Awarding more tokens in the airdrop than to the Matter Labs team and investors is more than a symbolic decision for the community,” the press release stated. “When the ZKsync governance system launches in the coming weeks, the community will have the largest supply of liquid tokens to direct protocol governance upgrades.”
Airdrop Execution
A total of 695,232 wallets are eligible for the airdrop, based on activities recorded on ZKsync Era and ZKsync Lite as of March 24, 2024. The distribution will be divided between users (89%) and contributors (11%).
ZKsync has capped the maximum allocation to any single address at 100,000 tokens.
ZKsync employs a points system to determine token distribution. Points were awarded for activities like interacting with smart contracts, providing liquidity to DeFi protocols, and trading ERC-20 tokens.
Activities on ZKsync Lite, such as donating to Gitcoin rounds, also earned points. Wallets with fewer than 450 ZK tokens will have their allocations recycled back into the pool to ensure a minimum of 917 ZK per wallet.
In March, ZKsync’s total value locked (TVL) peaked at $930 million. However, the TVL has since decreased to $750 million, according to knowledge from L2 beat.
