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ZkSync Airdrop Boosts ZK Token to $900M TVL Despite Initial Hurdles
#ZKSYNC $ZK #AIRDROP #ZKsyncAirdrop

ZK Token Launch
The new ZK token, despite a 20% drop, boasts a market cap of over $900 million in total value locked (TVL).

High Engagement from ZkSync Airdrop
ZkSync’s airdrop on June 17 created significant excitement, with 45% of tokens claimed by 225,000 addresses within two hours. The surge in activity caused some network slowdowns, prompting capacity enhancements.

Anticipation and Background
The airdrop was eagerly awaited following Matter Labs’ launch of zk-EVM in March 2023, which increased its popularity. This, along with Arbitrum's recent token release, boosted interest in ZkSync Era, now ninth among Layer 2 networks with $776.4 million in TVL and 6.9 TPS.

ZkSync Lite and Eligibility
Launched in June 2020, ZkSync Lite focuses on fast and affordable transfers. Eligibility for the airdrop required users to transfer assets to ZkSync Era and meet additional criteria. About 17.5% of the token supply was distributed to 695,000 wallets, each receiving 450 to 100,000 tokens.

Market Performance
The ZK token’s market cap is $927 million, with a fully diluted valuation of nearly $5.3 billion, despite a recent 20% decline.