The post ZKsync announces airdrop of 3.67B $ZK token to 695k wallets next week appeared on BitcoinEthereumNews.com.

ZKsync has announced plans to deliver a generous gift to its loyal community members. According to an announcement on ZKNation, starting June 17th, an unrestricted airdrop of 17.5% of the total token supply, i.e., 3,675,000,000 tokens, will be distributed as a show of gratitude. While this sizable portion will be airdropped at once with no vested requirements, the remaining 82.5% of tokens will be doled out incrementally through various ecosystem developments.  ZKsync is a layer-2 scaling solution built to enhance Ethereum’s transaction speed while decreasing congestion by utilizing zero-knowledge proof rollups. It is the first-ever zkEVM chain on the Ethereum blockchain. This results in a scaling answer for decentralized applications (dAPPs) that maintains the robust security inherent to Ethereum.  How to Qualify For The Airdrop? The ZKAS Token Airdrop will distribute 17.5 % of its total token supply through two primary channels. The first channels receiving 89% of this allocation are the users who have performed transactions and met a certain threshold of activity on the ZKsync network. The remaining 11%, according to the announcement, will be distributed to contributors, “Individuals, developers, researchers, communities, and companies who contributed to the ZKsync ecosystem and protocol through development, advocacy or education—regardless of their activity on ZKsync” The implementation is carefully made so as to distribute fair use activity thresholds, allocation formulas, multipliers, and Sybil detection to protect against any abuses. Further, the ZKsync distribution allocates a maximum of 100,000 coins per wallet to prevent whales from accumulating vast sums of ZK tokens. By capping the biggest beneficiaries, the airdrop makes tokens more equitably distributed among community members. This is a positive measure that will incentivize engagement and make the ecosystem more active.According to the detailed document, the addresses that are eligible for the airdrop are assigned using a weighted value-scaling formula that…

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Filed under: News - @ June 11, 2024 5:12 pm