ZKSync to Airdrop 17.5% of ZK Token Supply to 695,000 Wallets

ZKSync, an ethereum-based Layer 2 network developed by Matter Labs, is preparing for its highly anticipated ZK token airdrop. According to the distribution plan released on Tuesday, 17.5% of the total 21 billion ZK token supply will be released to users starting next week.

The ZK airdrop will be the largest token distribution among major Layer 2 networks, with nearly 3.7 billion tokens allocated to users. Pre-market Aevo perpetual exchange prices value ZK at $0.66, putting the fully diluted value (FDV) of the airdrop above $2.5 billion. On PancakeSwap, the token has an average price of about $0.7. For context, this most recent airdrop valuation is roughly three times the total value locked in the ZKSync era. The current market capitalization of the token is estimated at approximately $14.9 billion.

The project has allocated two-thirds of the ZK token supply to its community, with the majority (89%) of the airdropped tokens going to users who interacted with the ZKSync Era or ZKSync Lite networks before the snapshot date. on March 24. The remaining 11% will be distributed to native projects and communities.

To protect against Sybil attacks, ZKSync has established seven eligibility criteria, including interacting with ten smart contracts, exchanging ten ERC-20 tokens, or depositing liquidity into a DeFi protocol. Airdrop to each wallet is capped at 100,000 tokens. According to a press release from ZKSync, token holders will be able to immediately participate in the governance of the protocol once they claim their tokens.

ZKSync claims that giving more tokens to the community via airdrop than to the Matter Labs team and investors is more than just a symbolic decision.

“The chain history of a wallet reveals a lot about the habits of its owner. Real people tend to take risks, especially those who feel part of a community. They spend time on-chain, mimicking, transacting, testing new protocols, and holding speculative assets. Bots and opportunists are the complete opposite. Bots take fewer risks with minimal effort while trying to integrate into the community and extract value from it,” ZKNation said. blog entry fixed.

Less than 0.5% of the total supply will also be airdropped to various token and nft communities, including crypto: The Game players, Pudgy Penguins and Milady Maker nft holders, and airdrop recipients. DEGEN and BONSAI air.

The remaining third of the ZK token supply will be split almost equally between investors and ZKSync's development team, Matter Labs, and the tokens will be unlocked over a three-year period, from June 2025 to 2028. Matter Labs recently he faced backlash for trying. to zero knowledge brand, an initiative that he later abandoned. The protocol developer also recently presented ZKNationits new decentralized governance system.