zkSync Officially Announces ZK Token Airdrop
After a series of rumors and controversy about the ticker code, zkSync announced the ZK Token Airdrop and established a DAO called ZK Nation. Below is basic information about the ZK Token :
- Total supply: ZK 21 billion
- Airdrop: 17.5% of total supply, equivalent to 3,675 billion ZK
- Investors: 17.2%
- Project team: 16.1%
- Ecosystem development: 19.9%
- ZK Nation's reserve fund (Token Assembly): 29.3%
Detailed information about the ZK Airdrop is as follows:
- 89% of the total Airdrop supply is reserved for users on zkSync, with the remaining small portion going to the project team and those building on the ecosystem.
- 695,232 valid wallets.
- Each wallet will receive from 450 to 100,000 ZK depending on conditions.
- The Snapshot time is March 24, 2024, which is also the first anniversary of zkSync Era's mainnet.
According to tokenomics from the project, at the beginning, only Token belonged to the Community group. In particular, all Airdrop Token will be unlocked immediately, the rest in the Community pool will be managed by zkSync Foundation and on-chain management process through ZK Nation.
The Token portion of the project and investors will be paid in installments over 4 years and locked for the first year (until June 2025). This means that the initial total supply of ZK will mainly come from the community Airdrop .
The Airdrop Brings Great Hope to the Community
The news of the Airdrop and the establishment of the ZK Nation DAO has sparked great hope and expectations in the zkSync community. With fair and transparent Token allocation, zkSync is building a solid foundation for the sustainable development of the blockchain ecosystem.
The Importance of ZK Token to the Ecosystem
The Token Issuance is not only an important step forward in expanding the zkSync ecosystem but also affirms the project's commitment to the user and developer community. The ZK Token will become a key tool in driving interaction and collaboration across the entire ecosystem, while providing new opportunities for investors and participants.
In the context of a volatile cryptocurrency market, the birth of the ZK Token along with attractive Airdrop policies will certainly create a new wave, attracting interest and investment from all over the world. With strategic steps and careful preparation, zkSync is getting closer to its goal of becoming one of the leading blockchain projects, bringing practical value and long-term benefits to the user community.
ZK's Airdrop and Anti-Sybil Criteria
According to the ZK Token launch blog, zkSync has announced the Airdrop criteria and anti-sybil measures to reward genuine users and the loyal community. The project has set up many criteria and multipliers so users need to meet at least one criterion to receive the Airdrop.
The project also emphasizes the importance of holding asset balances on wallets or DeFi protocols throughout the mainnet process, which helps zkSync have more liquidation . Some other criteria emphasized include:
- Become a part of zkSync culture by owning native Non-Fungible Token on zkSync.
- Support the zkSync ecosystem by holding native ERC20 Token on zkSync.
- Testing zkSync Era's Account Abstraction feature using a smart contract wallet.
- Receive and hold previous Token Airdrop from other ETH communities to remain committed to the long-term success of the network.
- Trade with popular ETH network smart contracts and discover and use new dapps.
Additionally, several Non-Fungible Token communities such as Pudgy Penguins, Milady, and wallet addresses receiving DEGEN, Farcaster's BONSAI, and Lens Network will also receive Airdrop. zkSync will be the first ZK chain to launch Token, there will be new projects such as Cronos zkEVM, GRVT and the new project switching to zkSync is Lens Network.
Matter Labs representatives expressed confidence in this Airdrop , asserting that only 1% of the wallets passed the sybil ability retest condition.
Reaction After Airdrop Announcement
After the Airdrop information was announced, data related to the Airdrop winning wallets was also revealed. Below are the statistics of the number of users according to the number of Token received:
- 0-1k: 90,937 users
- 1k-5k: 477,996 users
- 5k-10k: 63,582 users
- 10k-20k: 26,871 users
- 20k-50k: 18,517 users
- 50k-100k: 12,657 users
- > 100k: 155 users
These numbers lead to some basic information:
- Medium number of Token users receive per wallet: 4,924 ZK
- 75% of users received less than or equal to 3,252 ZK
- The actual maximum number of Token received was 160,495 belonging to bobjiang. ETH
The standard deviation of 11,887 shows high variability and large differences between the number of Token received across wallets.
Community Response
After information about the number of Airdrop Token spread, the community immediately reacted to the price. On the Aevo pre-market, the price of ZK has decreased from the pre Airdrop level of 0.6 - 0.8 USD to ~0.3 - 0.4 USD.
At Whales Market's OTC pre-market market, ZK's OTC price also dropped sharply from about 0.8 USD to ~0.27 - 0.3 USD after the information related to the Airdrop. The reason for this is that the large number of Airdrop on many wallets leads to the community evaluating the Token value to decrease.
ZK Token Value Forecast
However, these are just OTC and pre-market markets, the value of the ZK Token will be officially decided after the project is listed on the floor around next week. Currently, ZK has been listed on Bybit, and it is likely that the next major exchanges will be announced in the near future.
ZKsync Network Performance
In fact, indicators related to the performance of the ZKsync network have decreased quite significantly after the anticipated Snapshot date (1 year anniversary). The number of bridges loaded into ZKsync and the volume on ZKsync are on a decreasing trend.
According to defillama, DeFi Protocols on ZKsync have a TVL of 133 million USD, lower than some other zkEVM projects such as Linea (653 million USD), Scroll (156 million USD), zkLink Nova (312 million USD) or competitors. Direct Starknet ($285 million).
Summary
zkSync has launched Token after many days of waiting. This Airdrop has a relatively large difference in the number of Token per wallet. The value of the ZK Token on the pre-market is decreasing significantly, zkSync's network indicators are also facing competition from other large projects. Let's look forward to the impact of the ZK Token on the ecosystem.
