As a researcher with experience in the blockchain and cryptocurrency space, I find the upcoming ZK airdrop by Matter Labs an intriguing development. With a total supply of around 21 billion tokens and a significant portion allocated to the community, this airdrop is unprecedented in the Layer 2 network space.
Next week, Matter Labs, the innovators behind ZKsync, plan to initiate a token giveaway for their community, unveiling the new ZK tokens.
I estimate that approximately 695,232 Ethereum Layer 2 service users will receive a total of 3.675 billion tokens, equating to 17.5% of the entire token supply, via airdrops.
ZK Airdrop Coming Next Week
According to the announcement in the release, ZK from Matter Labs will feature a total token supply of approximately 21 billion units. This airdrop, which comprises 17.5%, is the largest token distribution ever from a Layer 2 network.
As a researcher examining the report, I can share that approximately 89% of the distributed tokens will end up in the hands of individuals classified as users. These users were active in transactions before the specified cut-off date, which was March 24th. The remaining 11% of the tokens are allocated for contributors.
Contriburers such as developers, researchers, the community, individuals, and businesses played an active role in transforming ZKsnyc into the powerful L2 solution it has become today. However, unlike users who can start claiming tokens from next week, contributors must wait until at least June 24 before they can begin making their claims.
As an analyst, I’d rephrase it as follows: I have analyzed ZKSync’s wallet eligibility checker feature, which allows individuals to determine if they meet the criteria for receiving airdrops. According to the provided documentation, each distributed token is instantly accessible and can be transferred without any waiting period or vesting requirements.
As a researcher exploring the token distribution of ZKsync, I find it noteworthy that approximately two-thirds (66%) of the total ZK tokens are earmarked for the community. In contrast, only one-third (33%) is allocated to investors and development teams. When asked about this allocation, the ZKsync Association explained their rationale behind prioritizing the community.
Giving a larger number of tokens in the airdrop to the community instead of Matter Labs and investors holds significant meaning. This means that the community will possess the greatest amount of liquid tokens, enabling them to influence the decision-making process and propose upgrades for the protocol’s governance.
Starting in June 2025, the allocation of team tokens will be released over a span of four years, concluding in 2028. This adjustment pushes back the initial unlock dates by a year in response to a competitor, StarkWare, encountering similar delays due to public criticism.
Real Tokens for Real People
According to ZkSync’s announcement, this airdrop aims to recognize and compensate authentic users, while excluding bots and duplicate accounts. The network utilizes several parameters to distinguish and incentivize active wallets belonging to genuine individuals.
As a researcher investigating the potential impact of a large token airdrop, I came across a statement from Matter Labs CEO Alex Gluchowski regarding selling pressure. He expressed it this way in the first person: “Individuals have the freedom to sell their obtained tokens.”
As a researcher studying this particular project, I found that Alex expressed the intent for token holders to engage in the governance process. However, for those who prefer not to partake, the option to sell their tokens was also provided.
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2024-06-12 01:24