Ethereum Layer 2 network ZKSync announced on Tuesday (11th) the details of the distribution and airdrop of its protocol token ZK, with 17.5% of the total token supply to be airdropped to early users and adopters of ZKSync next week.
According to the announcement from ZK Nation, the total supply of ZK tokens is 21 billion, with 3.675 billion tokens to be distributed through a “one-time airdrop” to 695,232 eligible wallets. ZKSync stated that the eligibility and distribution of the airdrop are based on snapshots of ZKSync Era and ZKSync Lite activities taken on March 24, 2024, at 8:00 AM Taiwan time, in celebration of the one-year anniversary of the ZKSync Era mainnet launch.
ZKSync community members can check their eligibility on the official claim page and start claiming tokens from next week (deadline on January 3, 2025). Eligible GitHub developers and ZKSync GitHub Discussion Helpers must link their wallet addresses to their accounts by midnight Central European Summer Time on June 25 in order to claim tokens. External projects, Protocol Guild, and ZKSync native project contributors will be able to start claiming from June 24.
Token Distribution
According to the announcement, 66.7% of the total supply of ZK tokens will be allocated to the community, with the remaining 49.17% of token supply, aside from the 17.5% used for the airdrop, being distributed through ecosystem projects.
Additionally, 33.3% of the total supply of ZK tokens will be allocated to investors (17.2%) and the Matter Labs team (16.1%), with these tokens being locked for the first year and then unlocking over the next three years (from June 2025 to June 2028).
It is worth noting that the airdropped tokens will not have any vesting period or lockup period and will have “full liquidity from day one.” When asked if this would lead to selling pressure, Matter Labs founder and CEO Alex Gluchowski stated in an interview with The Block, “People are free to dispose of their tokens.”
Gluchowski described this as a community governance airdrop, stating, “So we hope that the majority of recipients will participate in governance, delegate their tokens, and become active members of the community,” or let the tokens fall into the hands of those who truly care about the protocol.
Gluchowski emphasized that two-thirds of the distribution will flow to the community, not to the team and investors, to argue that “the community is everything” for ZKSync.
