Bitcoin

ZKsync Announces Airdrop for Next Week

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ZKsync, one of the most popular Zero Knowledge (ZK) rollup layer 2s, announced its airdrop for next week. Those using ZKsync Era – the layer 2 chain – can secure ZK tokens in their wallets. The project’s tokenomics dedicates 17.5% of the 21 billion tokens from its eventual supply for the airdrop.

While it is impossible to know the dollar value surely until the airdrop concludes, industry experts suggest it can amount to over $2 billion in value. 89% of that value will get airdropped into wallets that utilized ZKsync Era to transact value above a certain benchmark.

The remainder of the tokens will be distributed among projects natively deployed on the rollup, on-chain communities, and developers building on this network. They will receive 5.8%, 2.8%, and 2.4% of the airdrop tokens, respectively.

The airdrop also comes with a 100,000 token ceiling, meaning no wallet can accumulate more than that. Airdrops often reward users proportional to their usage of projects. Those in the higher usage brackets tend to get rewarded handsomely. ZKsync will reward its users the same way except for setting the cap so more users can acquire meaningful value.

While the airdrop amounts to 17.5% of the project’s tokens, the remainder will be used for other purposes. Investors get 17.2% of the token supply, and the ZKsync team gets 16.1%. 19.9% will go toward ecosystem initiatives, and the last 29.3% held for its ‘Token Assembly. In other words, ZKsync’s DAO.

Matter Labs, the firm behind ZKsync Era, noted that its tokenomics reserves more tokens for its users through the airdrop than that set aside for its investors and team. They want to place the users first and reward their efforts in keeping the network relevant and utilized. Many ZKsync users are happy to know they will receive significant rewards.

However, ZKsync was also relentlessly criticized as Matter Labs tried to trademark ‘ZK.’ Many in the crypto community considered the move a massive mistake as Matter Labs wanted to trademark a term numerous projects are linked to. ZK or Zero Knowledge can be considered a public good, rightfully annoying the crypto community. Matter Labs withdrew its trademark request soon after the community’s commotion.

 

Image: Pixabay


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