zkSync to Distribute 17.5% of ZK Token Next Week

zkSync to Distribute 17.5% of ZK Token Next Week

zkSync, an Ethereum (ETH) layer-2 network based on zero-knowledge (zk) technology, has announced plans to airdrop 17.5% of its total token supply (21 billion) to users starting next week. In a blog post, zkSync developer Matter Labs explained that "89% of the allocation will be distributed to zkSync ecosystem users, while the remaining 11% will be granted to ecosystem contributors, including zkSync native projects (5.8%), the on-chain community (2.8%), and builders (2.4%)." It also noted that "there will be a cap of 100,000 tokens that any given address can claim." The airdrop is part of zkSync's efforts to decentralize its governance and reward early adopters of the network. zkSync is a popular layer-2 scaling solution that offers faster and cheaper transactions compared to Ethereum's mainnet. By airdropping its token, zkSync hopes to attract more users and developers to its ecosystem. The airdrop is expected to generate significant interest among crypto enthusiasts, as it represents a substantial distribution of tokens to a wide range of users. The tokens will be distributed to users who have interacted with zkSync's network in the past, including those who have used its wallet, staked its token, or participated in its governance process. The airdrop is scheduled to begin on March 31, 2023, and users can claim their tokens through zkSync's website. Further details on the airdrop, including eligibility requirements and claiming instructions, will be released in the coming days.