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ZKsync to Airdrop 3.675 Billion ZK tokens to 695k Users Next Week

June 11, 2024

ZKsync is all set to airdrop 3.675 billion tokens, amounting to 17.5% of its supply, to users next week. This will be the first and only airdrop of the Ethereum L2 zero-knowledge scaler’s native token.

The team asserted,

“A 17.5% airdrop to 695,232 wallets is the largest distribution of tokens to users amongst major rollups.”

Airdropped tokens do not have any vesting or lock-up period. Right from day one, they’ll be fully liquid. The airdrop to each wallet is capped at 100,000 tokens, in a bid to fairly reward community members.

2/3rd of the total 21 billion supply will go to the community, while the team and investors will be entitled to 1/3rd.

As far as the breakdown is concerned, 16.1% of the supply has been earmarked for the Matter Labs team, while the remaining 17.2% will go to investors.

These ZK tokens will be locked for the first year and then be unlocked over the course of 3 years, between June 2025 to June 2028.

29.3% will be set aside for its token assembly, and 19.9% will be used for ecosystem initiatives.

The official blogpost highlighted,

“Awarding more tokens in the airdrop than to the Matter Labs team and investors is more than a symbolic decision for the community.”

Source: ZKsync

Bots have been filtered out from the airdrop. That being said, it should also be noted that it is not possible to completely eliminate bots from the equation. Rather, the ZK airdrop focuses on identifying “real users” using a human-first approach.

On pre-market perp exchange PancakeSwap, ZK went on to create a peak around $0.8075. However, it couldn’t sustain there for long and noted a free fall to $0.2912 right after, shrinking the market capitalization from $16.95 billion to $6.11 billion.

Source: Pancakeswap Finance
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