ZKsync to Distribute 3.6 Billion ZK Tokens in Airdrop
The ZKsync Association is set to conduct a one-time distribution of 3.6 billion ZK tokens among early network users next week. This was revealed by Matter Labs founder and CEO Alex Gluchowski in an interview with The Block.
? Zksync airdrop checker live now.
695232 wallets eligible for 17.5% $ZK
Snapshot of zksync lite and era on March 24, 2024 (0 UTC) https://t.co/9fptXzdO08 pic.twitter.com/n3MyjDHjiy
— Airdrop Official ?? (@its_airdrop) June 11, 2024
The tokens allocated for the airdrop represent 17.5% of the total issuance of 21 billion.
Users will be able to claim their tokens starting next week until January 3, 2025. The claim will be available from June 24.
89% of the tokens will go to users who have transacted through ZKsync. The remaining 11% will be distributed among developers and other community members who have contributed to the ecosystem.
A total of 695,232 wallets have been shortlisted for the airdrop. A snapshot was taken on March 24 to mark the anniversary of the ZKsync Era mainnet launch.
The remaining ZK tokens will be distributed over time through ZKsync Foundation’s ecosystem initiatives and the ZK Nation governance model. Specifically, investors will receive 17.2%, and the Matter Labs development team will receive 16.1%. Their tokens will be locked for a year and then gradually unlocked over three years from June 2025 to June 2028.
The airdrop is based on a points system. Users earned points for interacting with smart contracts in ZKsync Era, providing liquidity in DeFi protocols, trading ERC-20 tokens, and being active in ZKsync Lite.
The distributed tokens will not have any lock-up periods and will be “fully liquid from day one.”
“We hope that most recipients will participate in governance, delegate their tokens, and become active community members. If some choose not to [and sell them], it’s better for the tokens to end up with people who truly care about the protocol,” said Alex Gluchowski.
One address can receive no more than 100,000 ZK tokens. This is because “the team is focused on the community as a whole, not on creating individual whales.”
The developers also made efforts to filter out bot addresses from the airdrop.
According to Colin Wu, the largest recipients of ZK tokens will be Holdstation wallet clients. 441,000 users make up 63% of the total airdrop recipients.
Currently, ZK is trading at a pre-market price of $0.34. The Fully Diluted Valuation is approximately $7.1 billion.
$ZK is currently trading at a pre-market price of $0.34
That gives it a Fully Diluted Valuation of approx $7.1B
? The current FDV of competitor Layer 2s:
‣ Starknet’s $10.8B
‣ $ARB‘s $9.3B
‣ $OP‘s $8.7B
‣ Polygon’s $6.4BWhat’s your zkSync price prediction on launch? pic.twitter.com/hm98ycCgIm
— Airdrop Official ?? (@its_airdrop) June 11, 2024
According to researchers’ calculations, 155 users will receive over 100,000 ZK. The largest expected allocation is to the address bobjiang.eth — 160,495 ZK.
All details about the $ZK token distribution ?
Eligible addresses: 690,715
0-1k: 90937 users
1k-5k: 477996 users
5k-10k: 63582 users
10k-20k: 26871 users
20k-50k: 18517 users
50k-100k: 12657 users
> 100k: 155 usersThe highest token amount in the dataset is… pic.twitter.com/V7qw9o9MS1
— eekeyguy.eth (@eekeyguy_eth) June 11, 2024
Earlier, the Matter Labs team announced a new ecosystem governance model called ZK Nation.
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