Matter Labs, the team behind ZKsync, is set to launch a community airdrop for their new ZK tokens next week. This airdrop will see the distribution of 3.675 billion tokens, representing 17.5% of the total token supply, to around 695,232 eligible wallets. The total supply of ZK tokens is projected to be around 21 billion, making this airdrop the most extensive token distribution from a Layer 2 network to date.
The allocation of the airdropped tokens will see 89% going to users who met the required transactional activities threshold by March 24, while the remaining 11% will be distributed to contributors such as developers, researchers, the community, and companies who played a significant role in the development of ZKsync. Users will be able to claim their tokens starting next week, while contributors will have to wait until at least June 24 before making their claims.
ZKSync has provided a wallet eligibility checker to help individuals determine their eligibility for the airdrops. Each airdropped token will be immediately unlocked and transferable without the need for a vesting period. One interesting aspect of the token distribution is that 66% of the total ZK tokens will be allocated to the community, while only 33% will go to investors and teams. This decision was made by the ZKsync Association to empower the community with the largest supply of liquid tokens for protocol governance upgrades.
The team tokens, which make up 33% of the total ZK token allocation, will not be immediately unlocked. Instead, they will be distributed starting in June 2025 and will undergo a four-year vesting period, ending in 2028. This decision to delay the unlock dates for team tokens comes after criticism received by another competitor, StarkWare, who also postponed their team unlock date. The goal of this delayed distribution is to ensure a fair and sustainable distribution of tokens over time.
The ZKsync team emphasizes that this airdrop is focused on rewarding real people with real on-chain activity while filtering out bots and sybil wallets. By employing various criteria to identify and reward genuine users, the network aims to ensure that the tokens are distributed fairly. When questioned about the potential selling pressure from a large sum of tokens being unlocked immediately, Matter Labs CEO Alex Gluchowski highlighted that token holders are free to dispose of their tokens as they see fit, with the hope that they will participate in governance or sell them if they choose not to participate.
Overall, the upcoming ZK token airdrop by Matter Labs represents a significant milestone in the distribution of tokens from a Layer 2 network. By prioritizing the community and rewarding real users and contributors, ZKsync aims to create a more inclusive and decentralized ecosystem for their platform. With the launch of the airdrop next week, eligible users and contributors will have the opportunity to claim their tokens and participate in the governance of the network, shaping its future and development.
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