ZKsync unveils ZK Token distribution and eligibility verification page set to open for applications next week

ZKsync unveils ZK Token distribution and eligibility verification page set to open for applications next week

ZKsync unveils ZK Token distribution and eligibility verification page set to open for applications next week

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 to be airdropped to early users and adopters of ZKsync next week.

According to the announcement released by ZK Nation, 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 are based on snapshots of ZKsync Era and ZKsync Lite activities taken at 8:00 on March 24, 2024, Taiwan time, commemorating the first anniversary of the ZKsync Era mainnet launch.

ZKsync community members can check their eligibility on the official claiming page and start claiming tokens from next week (deadline January 3, 2025). Eligible GitHub developers and ZKsync GitHub Discussion Helpers must link their wallet addresses to their accounts by midnight Central European Summer Time on June 25 to claim tokens. External projects, Protocol Guild, and ZKsync native project contributors will be able to start claiming from June 24.

Token Distribution
According to the announcement, 66.7% of the total token supply of ZK is allocated to the community, with 17.5% used for the airdrop, and the remaining 49.17% token supply will be distributed through ecosystem initiatives.

Additionally, 33.3% of the total token supply of ZK 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 on day one.” When asked if this could lead to selling pressure, Matter Labs founder and CEO Alex Gluchowski stated in an interview with The Block, “People can freely dispose of their tokens.”

Gluchowski described it as a community governance airdrop, saying, “So we hope that most 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 for ZKsync, “the community is everything.”