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ZKsync announces massive ZK token launch, that’s all
Breaking new ground in the blockchain arena, the ZKsync The association announces a monumental event: a massive token launch poised to transform the landscape for nearly 700,000 eligible wallets. Leading the charge is Matter Labs’ visionary founder and CEO, Alex Gluchowski, who demonstrates an unwavering commitment to empowering real individuals. This initiative, launching next week, marks a pivotal moment in decentralized finance, promising widespread impact and innovation.
ZK token distribution mechanics revealed
The ZKsync Association is ready to distribute 17.5% of the Total supply of the ZK token, equal to 3.675 billion tokens, to the first users of the Ethereum Layer 2 network, ZKsync. This unique, monumental airdrop opportunity allows users to claim their tokens from next week until January 3, 2025.
Additionally, contributors can seize their share starting June 24. The distribution strategy reflects a deliberate allocation, with significant portions earmarked for community-led initiatives, underscoring a commitment to decentralized governance and growth.
A noteworthy aspect of this allocation strategy is the deliberate decision to allocate a larger share to the community through the airdrop, exceeding the allocations to Material laboratories team and investors. This move underlines the association’s commitment to enhancing community-led governance, ensuring that stakeholders have a substantive interest in shaping the future of the protocol.
With 695,232 wallets selected for the airdrop, eligibility and allocations were meticulously determined based on asset snapshots captured on March 24, 2024, marking a significant milestone in the ZKsync era. The 17.5% ZK token allocation is split between two distinct categories of community members: users (89%) and contributors (11%).
Users include individuals who have actively transacted on ZKsync, reaching pre-defined activity thresholds, while contributors span a diverse spectrum, including developers, researchers and community supporters. Furthermore, a portion of the supply is allocated to experimental communities, encouraging innovation and exploration within the ecosystem.
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Involve the Community through a points system
The community airdrop operates on a points-based system, where wallets earn points for various actions, including interacting with 10 smart contracts on ZKsync Era, depositing liquidity into DeFi protocols and trading more than 10 ERC-20 tokens, among others. This intricate system incentivizes active participation and engagement within the ZKsync ecosystem, rewarding users for their contributions and involvement.
After points are awarded, wallets receive allocations based on assets connected to ZKSync Era, with multipliers applied based on Ethereum mainnet and network activity. To ensure equitable distribution, excess tokens are recycled into the pool, culminating in a minimum allocation of up to ZK 917 per wallet.
In particular, airdrop tokens boast immediate liquidity, without maturation periods or lock-ups, giving recipients autonomy over their assets. While concerns may arise about sales pressure, Gluchowski emphasizes the central role of community governance, urging recipients to actively participate in shaping the future of the protocol.
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