zkSync is the second layer solution for Ethereum that aims to increase the transaction throughput of the network without compromising its core values of freedom, self-sovereignty, and decentralization. Developed by Matter Labs, zkSync utilizes a technology called zk rollup to achieve this scalability.
To understand how zkSync works, it is important to first grasp the concept of zk rollup. Rollup is a technique for scaling blockchain transactions by bundling multiple transactions together and submitting them to the Ethereum mainnet as a single batch. There are two main types of rollup: optimistic rollup and zk rollup. zkSync utilizes the latter, relying on a cryptographic technique called zero-knowledge proofs.
Zero-knowledge proofs are a form of encryption that allows one party to prove the truth of a statement without revealing specific information about that statement. In the case of zkSync, this means being able to prove the validity of a batch of transactions without disclosing the details of each individual transaction.
zkSync employs a technology called zk-SNARK (zero-knowledge succinct non-interactive argument of knowledge), which offers both efficiency and security. Using this technology, zkSync can bundle multiple off-chain transactions (transactions not on the Ethereum mainnet) together and generate a proof that is then sent to the Ethereum blockchain for verification. This greatly reduces the amount of data that needs to be processed on-chain, resulting in faster and cheaper transactions.
zkSync is not just a technical project; it aims to build a thriving ecosystem and community. Over 200 projects, including big names like Chainlink, Uniswap, and Aave, have expressed interest in deploying on zkSync. This growing ecosystem demonstrates the widespread support and potential of zkSync as the foundational layer for the next generation of decentralized applications (dApps).
Therefore, the zkSync token airdrop has been regarded as a significant opportunity by the community. The zkSync Association will distribute a one-time airdrop of 3.6 billion ZK tokens to early users and adopters of zkSync next week. Community members can check their eligibility for the airdrop on the Claim.zknation.io website and claim the airdrop starting from next week until January 3, 2025.
zkSync Airdrop Recipients
Two types of zkSync users are eligible to receive a total of 17.5% of the airdrop:
1. Users (89%): zkSync users who engage in transactions and reach a certain level of activity on zkSync.
2. Contributors (11%): Individuals, developers, researchers, communities, and companies who contribute to the zkSync ecosystem and protocol through development, promotion, or education, regardless of their activity on zkSync.
The qualification and distribution of the airdrop are based on the zkSync Era and zkSync Lite activity snapshots taken on March 24, 2024, at 00:00 UTC, to commemorate the one-year anniversary of the zkSync mainnet launch.
zkSync Airdrop Eligibility
1. Address: zkSync will check each address that has conducted transactions on zkSync Era and zkSync Lite based on specific criteria to identify users who have genuinely explored zkSync. Each address must have at least one point to be eligible for the airdrop.
2. Assets: Once the eligibility of an address is determined, the airdrop allocation will be adjusted based on your assets (including assets in wallets and DeFi) and the time spent on zkSync Era. The more points acquired, the greater the final allocation, with a maximum of 100,000 ZK tokens per address.
3. Bonus Points: Each address can earn bonus points for activities that indicate genuine human behavior or high likelihood of contribution to zkSync. These bonus points apply to both address and asset calculations.
4. Ownership of zkSync native NFTs.
5. Support for zkSync ecosystem through holding zkSync native ERC-20 tokens.
6. Exploration of zkSync Era’s native account abstraction through smart contract wallets.
7. Receipt and holding of previous airdrops from other Ethereum communities.
8. Transactions with mainstream Ethereum mainnet smart contracts and exploration of new use cases and dApps.
Addresses that meet all the above conditions will receive token allocations. Each address must meet a minimum requirement of 450 ZK tokens, and the maximum airdrop limit per address is 100,000 ZK tokens. Tokens from addresses with fewer than 450 ZK tokens will be returned to the pool.
Note: Meeting one or more of the above airdrop criteria does not guarantee the right or claim to receive the airdrop. All decisions related to airdrop allocations are at the discretion of the zkSync Association.
zkSync Token Economics
The total supply of ZK tokens is 21 billion tokens. In addition to the airdrop, the community allocation accounts for 66.7%, ecosystem incentives account for 19.9% (distributed by the zkSync Foundation), investor allocation accounts for 17.2%, team allocation accounts for 16.1%, and Token Assembly allocation accounts for 29.3%. Tokens allocated to investors and the team will be locked for the first year and then unlocked over a three-year period between June 2025 and June 2028.
zkSync emphasizes that two-thirds (approximately 67%) of the ZK tokens will be allocated to the community. Of this, 17.5% of the total supply will be distributed through a one-time airdrop, and the remaining community tokens will be allocated over time through the ecosystem plan managed by the zkSync Foundation and the ZK Nation governance process to support the growing ecosystem.
Tags:
Web3 practitioner
Ethereum
