PANews reported on June 11 that Matter Labs announced that its Layer-2 network ZKsync will airdrop ZK tokens next week, with a distribution ratio of 17.5% of the total supply, about 3.7 billion tokens. It is reported that this will be the largest token distribution among the major Layer-2 networks.
According to the plan released by Matter Labs on Tuesday, 89% of the ZK token airdrop will be allocated to ZKsync users, who must meet certain trading activity standards (the specific standards have not yet been announced). The remaining 11% will be allocated to ecosystem contributors, including ZKsync native projects (5.8%), on-chain communities (2.8%), and developers (2.4%). In addition, to prevent large users ("whales") from benefiting excessively, a single address can receive a maximum of 100,000 tokens.
Matter Labs further pointed out that the number of tokens issued in the airdrop will exceed the total amount allocated to the Matter Labs team and investors, who will account for 16.1% and 17.2% respectively. These tokens will be locked for one year and then gradually unlocked over the next three years. The remaining tokens will be allocated to ZKsync's new "Token Assembly" (29.3%) and various ecosystem initiatives (19.9%).
This airdrop will allow community members to have the most circulating tokens in the upcoming ZKsync governance system, giving them a greater voice in protocol governance upgrades. Based on the pre-market price, the fully diluted valuation (FDV) of ZK tokens is approximately $2.5 billion, almost three times the current total locked value (TVL) of ZKsync Era of $815 million.
Prior to the announcement of this airdrop plan, Matter Labs had sparked controversy for attempting to register the "ZK" trademark. The trademark was considered to be an infringement of the public property of "zero-knowledge" cryptography technology. Eventually, Matter Labs withdrew the trademark application in response to community criticism.
