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ZKSync announces 3.6 billion ZK token airdrop

By:
on Jun 11, 2024
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  • ZKsync has announced the airdrop for its token ZK is next week.
  • Over 695,000 wallets are eligible for the one-time 17.5% of total supply airdrop.
  • This represents about 3.68 billion ZK tokens, out of the total supply of 21 billion.

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ZKsync has announced that the long-awaited airdrop of the Ethereum zero-knowledge (zk) L2’s native token is happening next week.

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Per an update the platform published on Tuesday, the airdrop will see the community receive nearly 3.68 billion ZK tokens.

Early users and ecosystem adopters can check their eligibility ahead of the huge airdrop. The team says roughly 695,230 wallets are eligible.

ZK airdrop details

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According to the ZKsync Nation, two-thirds (approximately 67%) of ZK total supply of 21 billion ZK tokens will be allocated to the community. Team and investors have 33% of the total supply.

Speicifically for the airdrop, users and contributors receive 17.5% of the supply in one go starting next week. The remaining allocation will be offered over time via ecosystem initiatives (19.9%) and Token Assemby (29.3%).

“A 17.5% airdrop to 695,232 wallets is the largest distribution of tokens to users amongst major rollups. Airdropped tokens do not have any vesting or lock up periods, and are fully liquid on day one,” the project noted in a blog post.

The one-time airdrop sees users get 89% of the distribution and contributors 11%, with Ksync Foundation and the ZK Nation managing the airdrop.

According to the ZKsync team, claiming window opens next week and runs until January 3, 2025 for users. Meanwhile, contributors will start receiving tokens on June 24.

Other eligible wallets

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ZKsync has also allocated 17.2% to investors and 16.1% to Matter Labs, the developer team behind the ZK platform. These tokens have a one-year lockup in place, with unlocks set for three years from June 2025 to June 2028.

About 0.5% of the total supply is allocated to a group of users ZKsync calls “experimental on-chain communities.”

Such users explored innovative ways to use tokens and NFTs. It includes recipients of the DEGEN and BONSAI airdrops, players of the Crypto the Game (CTG) and holders of Pudgy Penguins and Milady NFTs.

Airdrop eligibility and allocations follows a snapshot of network activity across ZKsync Era and ZKsync Lite. This happened on March 24, 2024 at 0:00 UTC, which coincided with the ZKsync Era mainnet’s one-year anniversary.

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