Matter Labs, the development firm behind ZKsync, has revealed the distribution criteria for the upcoming ZK token airdrop. The airdrop will distribute 17.5% of ZK's total token supply, making it the largest distribution of tokens among major layer-2 networks. The airdrop is valued at over $2.5 billion, nearly triple ZKsync's current total value locked. The airdrop will primarily benefit ZKsync users, with a small percentage going towards ecosystem contributors and the Matter Labs team. The news comes amidst controversy surrounding Matter Labs' recent decision to trademark the term "ZK," which has since been withdrawn.
ZKsync $2.5 Billion Airdrop: A Comprehensive Guide
Background
ZKsync is a Layer-2 scaling solution for Ethereum that utilizes zero-knowledge (ZK) proofs to enhance transaction speed and privacy. Developed by Matter Labs, ZKsync has gained traction as a notable player in the Layer-2 ecosystem.
$2.5 Billion Airdrop Announcement
On February 2023, Matter Labs announced the distribution of 17.5% of ZK's total token supply, valued at over $2.5 billion. This airdrop ranks among the largest distributions in the history of Layer-2 networks.
Distribution Criteria
The airdrop will primarily benefit ZKsync users who have interacted with the network in the past. The following activities will be considered:
Ecosystem contributors and the Matter Labs team will also receive a small percentage of the tokens.
Controversy and Trademark Dispute
The ZKsync airdrop announcement came amidst controversy surrounding Matter Labs' decision to trademark the term "ZK." This move drew criticism from the ZK community, as it was seen as an attempt to claim exclusive ownership of a widely used technical abbreviation.
Following backlash, Matter Labs withdrew the trademark application and apologized for any confusion or offense caused.
FAQs
1. Who is eligible for the ZKsync airdrop? A: Users who have interacted with the ZKsync network prior to the snapshot date are eligible.
2. How do I claim my airdrop tokens? A: The airdrop process is still under development, and Matter Labs will provide further instructions closer to the distribution date.
3. What is the value of the ZK token? A: The ZK token currently has no established market value, and its price will be determined by supply and demand once it is listed on exchanges.
4. When will the airdrop tokens be distributed? A: The distribution date has not yet been announced.
5. What are the implications of Matter Labs' trademark withdrawal? A: The withdrawal indicates the company's recognition of the importance of community feedback and its commitment to building a decentralized and open ecosystem.
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