Important point:
$ZkSync token generation will launch soon, with #airdrop expected to occur around June 13th.
21 billion tokens are set for release, although ticker issues with ZK may arise due to previous claims by #Polyhedra Network.
The #ZkSync layer 2 network is gearing up for its ZkSync (TGE) token generation event this week, as reported by The Block.
ZkSync Token Generation Event Ready For Launch and Airdrop
Following the creation of the ZkSync token, the token launch and airdrop will take place next month, with the estimated airdrop date around June 13, ahead of the Blast token airdrop scheduled for June 26.
The total supply of ZkSync tokens will be 21 billion, according to the same source. Although ZkSync aims to adopt the ticker symbol ZK for its token, complications have arisen due to previous claims of this ticker by Polyhedra Network. Despite this, ZkSync may still choose ZK, especially considering that the Polyhedra token is not yet listed on Binance.
Regarding decentralization, Matter Labs, the driving force behind ZkSync, is currently working on the process, although concrete plans have not yet been finalized. The company has planned a token launch and airdrop at the end of June, with plans to accelerate the protocol's decentralization through upcoming upgrades.
Funding and Support for ZkSync Development
ZkSync, a member of the zk-Rollup family, addresses the scalability and transaction fee issues plaguing the Ethereum network. Since Era's mainnet launch in March 2023, ZkSync has committed to issuing tokens within one year.
This commitment, coupled with the airdrop policy, attracted a lot of attention from cryptocurrency investors, resulting in a peak Total Value Locked (TVL) of almost $200 million, which was later reduced to $141 million. Currently, ZkSync is ranked eighth among Ethereum layer-2 solutions by TVL.
Matter Labs has received major support from leading investors, including Andreessen Horowitz (a16z), Dragonfly Capital, and #Blockchain Capital, raising $258 million in funding and establishing a $200 million ecosystem development fund.
