When will zkSync issue coins? Detailed explanation of ZK coin distribution/airdrop details/receipt steps

On June 11, 2024, zk-rollup L2 zkSync, which has attracted much attention from the community, finally announced the token ZK distribution details and airdrop details. 66.6% of the total supply of ZK will be distributed to the community: 17.5% of the total supply of ZK (approximately 3.675 billion pieces) will be distributed to the community through a one-time airdrop; the remainder (49.1%) will be distributed through the ecosystem program and ZK managed by the ZKsync Foundation The Nation governance process is distributed over time to support a growing ecosystem as new users come on-chain.

33.3% of the total supply is allocated to investors and the Matter Labs team: 17.2% to investors; 16.1% to the Matter Labs team. These ZK tokens are locked for one year and then unlocked in 3 years, from June 2025 to June 2028.

Today, the editor of this website will share with you that zkSync token ZK has started to issue coins. Detailed explanation of the token distribution/airdrop details/receipt steps. Don’t miss it if you need it!

1. ZK token distribution details

The total supply of ZK tokens is 21 billion. The contract is deployed on zkSync Era, and the contract address is 0x5A7d6b2F92C77FAD6CCaBd7EE0624E64907Eaf3E.

66.6% of the total supply of ZK will be allocated to the community: 17.5% of the total supply of ZK (approximately 3.675 billion pieces) will be distributed to the community through a one-time airdrop; the remainder ( 49.1%) will be distributed over time through the ecosystem program managed by the ZKsync Foundation and the ZK Nation governance process to support the growing ecosystem as new users come on-chain.

33.3% of the total supply is allocated to investors and the Matter Labs team: 17.2% to investors; 16.1% to the Matter Labs team. These ZK tokens are locked for one year and then unlocked in 3 years, from June 2025 to June 2028.

2. Overview of ZK airdrop

According to official information from Matter Labs, 17.5% of the total supply of ZK will be airdropped to the community at one time, and the tokens will be airdropped There is no vesting or locking period, and it is fully liquidable on day one.

The encryption community has two ways to obtain the 17.5% airdrop of approximately 3.675 billion ZK.

• 89% airdrop to users: ZKsync users who trade on ZKsync and reach the activity threshold.

• 11% airdrop to contributors: individuals, developers, researchers, communities, and companies who contribute to the ZKsync ecosystem and protocol through development, advocacy, or education—no matter who they are How about activity on ZKsync.

Airdrop eligibility and allocation are based on a snapshot of ZKsync Era and ZKsync Lite activity taken at 0:00 UTC on March 24, 2024, which marks the first anniversary of the launch of the ZKsync Era mainnet. .

According to official news, Brother 695232’s wallet is eligible for air investment.

3. User airdrop details and collection steps

Step 1, qualification check and points

Community members can claim.zknation Check eligibility on .io and will be able to claim their tokens starting next week until January 3, 2025.

Every address that has transacted on ZKsync Era and ZKsync Lite is checked against eligibility criteria that identify people who have taken the time to carefully explore ZKsync. Each address must have at least one point to qualify for the airdrop.

Points Rules

Step 2, Distribution

After determining the qualification of the wallet, its distribution will be based on the amount transferred to ZKsync Era Crypto assets are calculated. The formula adjusts the allocation of addresses based on their assets in the ZKsync Era (in wallets and DeFi) and how long those assets have been in the ZKsync Era. Each address's value scaling allocation then increases with each additional point they earn. The more points earned, the greater the final amount distributed, up to a maximum limit of 100,000 ZK.

Value scaling process:

• First, calculate the daily dollar balance of cryptoassets held by an address, including wallet balances or cryptoassets sent to the DeFi protocol .

• Next, to emphasize the utility of cryptoassets at work (compared to assets sitting idle in a wallet), cryptoassets in DeFi are valued at 2 times their nominal value times.

• Finally, the time-weighted average balance of each wallet is calculated by adding the daily balances and dividing by the total number of days during the snapshot period. The snapshot period from the launch of the ZKsync Era public mainnet on March 24, 2023 to March 24, 2024 is 366 days.

Example:

Alice sent $100 in crypto assets to ZKsync Era 250 days before the snapshot was taken. 50 days later, he sent another $100 in crypto assets and kept it in the wallet until the snapshot was taken.

Alice’s Time Weighted Average Balance (TWAB) is calculated as follows:

Step 3, Multiplier

Each address All receive multipliers based on activities that demonstrate a high likelihood of human behavior or contribution to ZKsync. These multipliers apply to ZKsync Era and Lite usage qualifications and allocations.

These multipliers include:

• Save one of the following ZKsync native NFT collections in a snapshot: Dudiez, Hue, Moody Mights, Webears, ZKPENGZ, zkSkulls, or zkVeggies. The seven series were selected based on their average trading price of at least $25 and a total trading volume of $20,000 in the 30 days prior to the snapshot.

• Hold at least $50 in one of the following ZKsync native ERC-20 tokens at the time of the snapshot: AAI, HOLD, KOI, MEOW, MUTE, RF, ZF, ZORRO. Similar to the seven eligible NFT projects above, the tokens of the top seven projects ranked by market cap at the time of the snapshot. Eight tokens are included because KOI and MUTE are the same project.

• Smart contract wallet created through ZKsync Era native account abstraction.

• Hold at least 50% of the ARB/OP/ENS airdrop for more than 90 days after receiving it.

• Interacted with an eligible Ethereum smart contract at least twice among the first 1,000 addresses. Eligible contracts are those that cost at least 100 ETH in transaction fees.

After step 3, each address will be assigned tokens. Addresses must meet a minimum requirement of 450 ZK and a maximum of 100,000 ZK. Tokens from addresses with less than 450 ZK will be recycled back into the pool. Excess tokens from addresses above 100,000 ZK will also be recycled back into the pool. These tokens will then be reallocated, bringing the minimum allocation to 917 ZK.

Step 4, Sybil Test

At this time, the vast majority of witches have passed the qualification and allocation standards and have been naturally eliminated. Industrial hairdressers play a destructive game. They give so little and gain so much, like parasites sucking the blood and sweat out of a community. A person-centered approach upends this asymmetry and benefits real people. It recognizes and rewards users who have contributed a lot and added value to the community.

At the end of the distribution process, each wallet goes through an additional sybil detection step, eliminating the most obvious swarm attacks. It intentionally uses a very conservative heuristic framework to avoid accidentally penalizing real people. This approach can solve the problem of some complex bots passing through, but value scaling ensures that their token allocations remain small.

Step 5: Minting, Claiming and Delegating

Eligible wallet users will be able to mint and claim their ZK tokens starting next week until January 3, 2025.

Eligible GitHub developers and ZKsync GitHub discussion assistants must have their address associated with their account by June 25, 00:00 CEST to claim it.

External projects, protocol guilds, and ZKsync native project contributors will be able to receive it starting on June 24, 2024.

With the native account abstraction of ZKsync, there is no need to pay gas to claim ZK.

After claiming, token holders can participate in the governance of the ZKsync protocol and delegate themselves or delegate their token voting rights to representatives they believe will continue to promote personal freedom for all.

4. Contribution-based airdrop

ZKsync native project: 215.25 million tokens

are directly allocated to the contributors and treasury of the ZKsync native project built based on ZKsync Era, Including DeFi protocol, ZK chain, NFT collection, market, infrastructure, games, etc.

67 projects in total:

##Builders: 86,895,375 tokens

Allocated to support ZKsync through development, promotion, or education Individuals, developers, researchers, communities and companies that contribute to the ecosystem and protocols.

On-chain community: 102.375 million tokens

are allocated to a small experimental on-chain community to explore new ways to organize using tokens and NFTs.

##5. ZK Airdrop Principles

The zkSync official blog also explained the ZK airdrop principles. They believe that the community is everything, and airdrops must be airdropped to real users. How do non-witches deal with whales and other situations.

Community is everything Powering the community

17.5% of the total supply of ZK was airdropped to 695,232 wallets, which is the largest number of tokens distributed to users among major rollups. Airdrop tokens do not have any vesting or lock-up period and will be fully circulated on day one. This amount is higher than the locked allocation to the Matter Labs team (16.1%) and its investors (17.2%).

The number of tokens awarded in the airdrop exceeds the number of tokens for the Matter Labs team and investors, which is more than a symbolic decision for the community. When the ZKsync governance system launches in the coming weeks, the community will have the largest supply of liquid tokens to guide protocol governance upgrades.

Reward Real People

Carefully designed airdrops reward community members who actively participate in the network. There are 6 million unique addresses on the ZKsync Era, so it is easy to eliminate bot swarms by applying strict sybil standards. But sybil detection often uses arbitrary filters to weed out real users. This is an incomplete approach to ZK airdrops.

ZK Airdrop focuses on identifying real users using a human-centered approach. A wallet’s on-chain history can reveal a lot about its owner’s habits. Real people tend to be adventurous, especially those who feel like they are part of a community. They spend time on-chain, imitating, trading, trying new protocols and holding speculative assets. Robots and opportunists are the opposite. Bots take fewer risks with minimal effort as they try to integrate into the community and gain value from it.

The whale address can airdrop up to 100,000 ZK

Real humans are involved. They bring assets together that ultimately flow into dApps and DeFi protocols, becoming the lifeblood of highly liquid ecosystems. Users should be rewarded accordingly based on their contribution to the success of ZKsync.

But there are limitations. It's easy for a whale to get a large allocation without any restrictions and then run away. ZK is allocated an airdrop of up to 100,000 tokens per address. By limiting the number of whales, the ZK token airdrop fairly rewards community members who contribute to ZKsync in different ways.

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