ZkSync 695K Wallet claims to be eligible for next week’s ZK token airdrop
Ethereum Zero Knowledge (ZK) Layer 2 scalar zkSync has launched its own token, zkSync (ZK), and plans to release about 3.68 billion of them “in the next week”.
The project said on June 11 that starting next week, 17.5% of the token's total supply of 21 billion will be distributed to 695,232 eligible wallets – the rest is reserved for the initiative, the team, investors and the “token meeting”.
ZK was trading as high as $0.71 on pre-market perpetual exchanges Aevo and PancakeSwap – meaning its market capitalization would be around $14.91 billion.
About 3.27 billion tokens – or 89% of the ZK collection for the airdrop – will be distributed to users of the network, with the rest going to indigenous projects and communities.
Wallets that receive a slice of the drop must interact with the zkSync Era or zkSync Lite networks before March 24th, midnight UTC.
ZKsync's list of seven qualifying criteria — which it says is meant to protect against Sybil attacks — includes a wallet that connects to ten smart contracts, trades ten ERC-20 tokens, or injects liquidity into a decentralized finance (DeFi) protocol.
Each wallet airdrop is capped at 100,000 tokens.
Less than 0.5% of the total supply was added to Crypto: The Game Players, holders of Pudgy Penguins and Milady Maker nonfungible token (NFT) collections along with DEGEN and BONSAI airdrop recipients.
Community air drop more than “symbolic”.
The remaining one-third of the total supply of ZK tokens is set to be split even between investors and zkSync development team Matter Labs – which met with widespread opposition last month for trying to trademark “ZK”.
Related: Negative evidence: ZK Tech's next move or just cynicism?
The tokens are scheduled to be released over three years, from June 2025 to 2028.
“It is a symbolic decision for the community to award more tokens in the climate than the Matter Labs team and investors,” zkSync wrote in a press release shared with Cointelegraph.
The airdrop will start next week and will last until January 3rd, and holders will be able to participate in the administration of the protocols immediately.
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