zkSync New ZK Token: Massive Airdrop Planned for Over 695,000 Wallets

zkSync New ZK Token: Massive Airdrop Planned for Over 695,000 Wallets

Ethereum’s zero-knowledge (ZK) Layer 2 scaling solution, zkSync, has announced the launch of its native token, zkSync (ZK). Starting next week, the project plans to airdrop approximately 3.68 billion tokens.

In an announcement on June 11, zkSync revealed that 17.5% of the total 21 billion token supply will be distributed to 695,232 eligible wallets, while the remaining tokens will be allocated for various initiatives, the team, investors, and a “token assembly.”

The ZK token has already seen trading activity, reaching up to $0.71 on pre-market perpetual exchanges such as Aevo and PancakeSwap, suggesting a market capitalization around $14.91 billion.

Of the tokens set for the airdrop, roughly 3.27 billion, or 89%, will be distributed to the network’s users. The rest will be given to native projects and communities. Eligibility for the airdrop requires wallets to have interacted with the zkSync Era or zkSync Lite networks before the snapshot date of March 24, midnight UTC.

zkSync has outlined seven criteria to prevent Sybil attacks, including interactions with ten smart contracts, trading ten ERC-20 tokens, or providing liquidity to a decentralized finance (DeFi) protocol, among other activities.

Each wallet will receive a maximum of 100,000 tokens. Additionally, less than 0.5% of the total supply will be airdropped to players of Crypto: The Game, holders of Pudgy Penguins and Milady Maker NFTs, as well as DEGEN and BONSAI airdrop recipients.

The community airdrop is more than symbolic. The remaining one-third of the total ZK token supply will be evenly split between investors and the zkSync development team, Matter Labs, which recently faced criticism for attempting to trademark “ZK,” a move it has since abandoned.

These tokens will unlock over a three-year period, from June 2025 to 2028. According to zkSync’s press release shared with Cointelegraph, awarding more tokens in the airdrop than to the Matter Labs team and investors signifies a meaningful commitment to the community.

The airdrop will commence next week and run until January 3 of next year, with token holders able to participate in protocol governance immediately.