Ethereum Layer 2 network ZKsync announced on Tuesday (11th) the details of the distribution and airdrop of its protocol token ZK, with 17.5% of the total token supply set to be airdropped to early users and adopters of ZKsync next week.
According to the announcement by ZK Nation governance system of ZKsync, the total token supply of ZK is 21 billion, with 3.675 billion tokens to be distributed through a “one-time airdrop” to 695,232 eligible wallets. ZKsync stated that the eligibility and distribution of the airdrop were based on snapshots taken of the ZKsync Era and ZKsync Lite activities on March 24, 2024, at 8:00 am Taiwan time, to commemorate the first anniversary of the ZKsync Era mainnet launch.
Community members of ZKsync can check their eligibility on the official claiming page and can start claiming tokens from next week (deadline on January 3, 2025). Eligible GitHub developers and ZKsync GitHub Discussion Helpers must link their wallet addresses to their accounts before midnight Central European Summer Time on June 25th to claim the tokens. External projects, Protocol Guild, and ZKsync native project contributors will be able to start claiming from June 24.
Regarding token distribution, 66.7% of the total token supply of ZK is allocated to the community, with the remaining 49.17% of token supply, excluding the 17.5% used for the airdrop, to be distributed through ecosystem initiatives.
Additionally, 33.3% of the total ZK token supply will be allocated to investors (17.2%) and the Matter Labs team (16.1%), with these tokens being locked for the first year and then unlocked over three years (from June 2025 to June 2028).
It is worth noting that the airdropped tokens will not have any vesting or lock-up period and will have “full liquidity from day one.” When asked if this would lead to selling pressure, Matter Labs founder and CEO Alex Gluchowski stated in an interview with The Block that “people can freely dispose of their tokens.”
Gluchowski described this as a community governance airdrop, saying, “So we hope that the majority of recipients will participate in governance, delegate their tokens, and become active members of the community,” or let the tokens fall into the hands of those who truly care about the protocol.
Gluchowski emphasized that two-thirds of the distribution will flow to the community, rather than to the team and investors, to argue that “the community is everything” for ZKsync.
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