ZKsync's Upcoming ZK Airdrop Set for Next Week: What to Anticipate

Matter Labs, the primary development firm behind the ZKsync Era layer-2 network, has announced the distribution criteria for its highly anticipated ZK token airdrop. According to the plan released on Tuesday, 17.5% of ZK’s total token supply of 21 billion will be distributed to users starting "next week."

ZKsync Era, like other layer-2 networks, offers a faster and more cost-effective method for executing Ethereum transactions. Matter Labs claims this will be the “largest distribution of tokens to users among major L2s,” with nearly 3.7 billion tokens allocated for users.

Pre-market prices from Aevo, a crypto perpetuals exchange, currently value ZK at $0.66. This valuation places the airdrop’s fully diluted value (FDV) at over $2.5 billion, which is almost triple ZKsync Era’s current total value locked (TVL) of $815 million.

Under the distribution plan, 89% of the airdrop will be allocated to ZKsync users, which includes anyone who has transacted on ZKsync and met a specific activity threshold, though the exact threshold has not been disclosed. The remaining 11% will be distributed to ecosystem contributors, including ZKsync native projects (5.8%), on-chain communities (2.8%), and builders (2.4%).

The announcement follows recent controversy surrounding Matter Labs' decision to trademark the term “ZK,” which stands for "zero-knowledge" cryptography. This move faced backlash from the crypto community, leading Matter Labs to withdraw the trademark application, originally intended to protect users from similarly named projects and tokens.

Matter Labs has also set a cap on the airdrop, limiting any given address to a maximum of 100,000 tokens. This measure aims to prevent large holders, known as "whales," from dominating the distribution and to ensure a fair reward for community members who have actively contributed to ZKsync.

Additionally, Matter Labs employees will receive 16.1% of ZK tokens, and investors will receive 17.2%. These tokens will be locked for one year and then gradually unlocked over the following three years.

The rest of the token supply will go towards ZKsync’s new "Token Assembly" (29.3%) as part of its new governance plans and various Ecosystem Initiatives (19.9%).

Matter Labs emphasized that awarding more tokens to the community than to the team and investors is a significant decision. When the ZKsync governance system launches in the coming weeks, the community will have the largest supply of liquid tokens for directing protocol governance upgrades.

The airdrop follows other notable airdrops, such as those from StarkNet and EigenLayer, which faced criticism from users who expected larger allocations. Alex Gluchowski, CEO of Matter Labs, acknowledged that not everyone will be satisfied but highlighted the emphasis on community in their distribution plan.

Certain jurisdictions will be excluded from the airdrop due to compliance with sanctioned regimes and legal restrictions, although specific countries and enforcement methods were not disclosed.

The announcement comes amid ongoing tensions with competitors like Polygon and Starkware over trademark issues. Matter Labs has since retracted its trademark application to avoid any appearance of manipulating the system to its advantage.

In summary, ZKsync's ZK token airdrop is set to begin next week, with significant distribution to the community and careful measures in place to ensure fair allocation and compliance with legal standards.

How to Claim zkSync Airdrop?

Claiming the zkSync airdrop is a straightforward process, but it requires a bit of preparation. Here are the steps to ensure you are ready:

1. Set Up a Wallet: The first step is to have a compatible wallet. Ensure your wallet supports the zkSync network. Popular options include MetaMask and Trust Wallet.

2. Connect Your Wallet: Once your wallet is set up, connect it to the zkSync network. This is usually done through the wallet’s interface, where you can add custom networks.

3. Check Eligibility: Airdrops typically have eligibility criteria. Make sure you have completed any necessary transactions or held the required tokens in your wallet.

4. **Claim the Airdrop**: When the airdrop goes live, visit the official zkSync website or the specific airdrop page. Follow the instructions to claim your tokens. This often involves signing a transaction with your wallet.

By following these steps, you can ensure that you are ready to claim your zkSync airdrop tokens as soon as they become available.

How Do I Claim My Airdrop Tokens?

Claiming airdrop tokens generally involves a few standard steps, although the exact process can vary depending on the project. Here’s a general guide:

1. Stay Informed: Follow zkSync’s official channels, such as their website, Twitter, and Telegram. Announcements regarding the airdrop will be posted there.

2. Verify Authenticity: Always ensure you are on the official site to avoid scams. Phishing sites can trick users into giving away their private keys.

3. Follow Instructions: Detailed instructions on claiming the airdrop will be provided. This may involve connecting your wallet, verifying your eligibility, and signing a transaction.

4. Transaction Confirmation: After signing the transaction, you may need to wait for confirmation on the blockchain. Once confirmed, the tokens will be deposited into your wallet.

How to Get Optimism Airdrop?

Getting an airdrop from Optimism, another prominent layer-2 solution, involves similar steps to zkSync:

1. Use the Network: Often, projects reward users who actively use their networks. Conducting transactions on Optimism can make you eligible for future airdrops.

2. Hold Tokens: Holding specific tokens in your wallet can also be a criterion. For Optimism, holding ETH or other supported tokens might be required.

3. Stay Updated: Follow Optimism’s official channels for airdrop announcements. Being part of their community can provide early information on upcoming airdrops.

4. Complete Tasks: Some airdrops require completing tasks like staking, participating in governance, or providing liquidity. Ensure you understand and complete these tasks to qualify.

By engaging with the Optimism network and staying informed, you can increase your chances of receiving their airdrops.

The ZK Sync token plays a crucial role within the zkSync ecosystem. Here’s what it is used for:

1. Transaction Fees: The primary use of the ZK Sync token is to pay for transaction fees on the zkSync network. This makes transactions cheaper and faster compared to the Ethereum mainnet.

2. Staking: Users can stake ZK Sync tokens to support network security and earn rewards. Staking incentivizes users to contribute to the network’s stability.

3. Governance: ZK Sync tokens are used in the governance of the protocol. Token holders can vote on proposals that affect the future development and policies of zkSync.

4. Incentives and Reward: The token is also used to incentivize developers and users to participate in the zkSync ecosystem, fostering growth and adoption.

The ZK Sync token thus serves multiple purposes, enhancing the functionality and sustainability of the zkSync network.