The project announced that early adopters will receive 17.5% of the total supply of $21 billion.
However, amid discussions about the fairness of the distribution, the TVL (total value of locked-up assets) dropped to $133 million.
Layer 2 scaling solution for Ethereum ( #ETH ), ZKSync, has announced the launch date of its token. According to the statement, the launch of the ZK token will take place on June 17.
However, the release of this information appears to have sparked debate, especially among early adopters of the protocol. #zkSync began development on its mainnet in 2023.
The basic principles of the project attracted many users to the network. It was also speculated that the project would reward its community with the ZK token, and it appears ZKSync has delivered on that promise.
In a message dated June 11, the minutes stated: “ZK is the final.” It also contained information about the distribution of tokens. According to data obtained by AMBCrypto, 17.5% of the total supply of $21 billion will be allocated to the project community.
In addition, the team and investors will receive 16.1% and 17.2% respectively. The remainder was allocated to generate tokens and support ecosystem initiatives.
17.5% of the total supply will be distributed through a one-time airdrop. The remaining funds will be distributed over time through ecosystem initiatives managed by the ZKsync Foundation and the ZK Nation governance process to support the growing ecosystem as new users join the network.
At the same time, ZKSync explained how it got into the distribution. It notes that 89% of the 17.5% were allocated to those who made a significant number of transactions on the network.
The remaining 11% went to developers, researchers and the like. However, the clarification did not change the opinions of some ineligible users.
Additionally, the Total Value Locked (TVL) of ZKSync has started to increase at the time of publication. TVL measures the value of assets locked or at stake in the protocol.
A few weeks ago, TVL in the ZKSync era was almost $200 million. This surge was driven by participants' confidence in the protocol that it would generate good profits.
However, at the time of publication, the value of the token had dropped to $133.03 million. The recent decline meant that users were increasingly withdrawing their assets from the protocol.
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