ZKsync Announces 3.6 Billion ZK Airdrop — The Largest-Ever Among Major L2s | BitPinas

The ZKsync Association announced the ZK token airdrop and general token distribution.

What’s the significance? This airdrop is the largest among major L2s, with no vesting or lock-up periods for the distributed tokens, Matter Labs said.

This initiative will allow token holders to directly influence protocol upgrades and maintain the network’s trustless and censorship-resistant nature. Users can claim here.

Read more: BIG List: 130+ Crypto Airdrops to Watch Out For in 2024 (Updated June 2024)

The numbers:

• Total Supply: 21 billion ZK tokens
• Community Allocation: 66.6% for community development
• Airdrop: 17.5% to over 690,000 wallets, with a cap of 100,000 tokens per address
• Investor and Team Allocation: 17.2% and 16.1%, respectively, with a lock-up period

Sybil detection: The airdrop focuses on identifying real users with a human-forward approach, avoiding traditional Sybil detection methods to ensure fair distribution and prevent large accumulations by whales.

• “Sybil” refers to Sybil attacks, where one entity creates multiple fake identities to gain an unfair advantage in a network.

Key quote:

• “Community is Everything. Two-thirds (~67%) of the ZK token supply will go to the community. Early users recognized ZKsync’s potential to expand personal freedom and dove in. That trust needs to be recognized.”
• “Mother of All Drops: A 17.5% airdrop to 695,232 wallets is the largest distribution of tokens to users amongst major rollups.”

How it works: Eligible users and contributors can claim their tokens starting next week.

• Tokens are fully liquid on day one and can be used for governance activities, including voting on protocol upgrades.

What’s next: Token holders will begin participating in governance decisions once the claim period starts. The industry should monitor the upcoming governance proposals and how the community shapes the future of ZKsync.

This article is published on BitPinas: ZKsync Announces 3.6 Billion ZK Airdrop — The Largest-Ever Among Major L2s

What else is happening:

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