Token

Polyhedra Network

ZKsync

Billion

<p><strong>The crypto community has one more reason to be excited as ZkSync prepares for its token generation event (TGE) this week, with a jaw-dropping total supply of 21 billion tokens. As one of the forerunners in the Ethereum Layer 2 space, ZkSync uses ZK-rollups to enhance transaction efficiency and scalability. </strong></p>
<p style="text-align: center;"><em>Also Read: <a href="https://www.cryptopolitan.com/circle-launches-its-usdc-on-ethereum-zksync/" rel="noopener noreferrer nofollow">Circle Launches Its USDC on Ethereum ZkSync</a></em></p>
<p><a href="https://www.theblock.co/post/295670/zksync-token-launch-airdrop" rel="noopener noreferrer nofollow" target="_blank">Reports</a> cited two insiders who claimed that the highly anticipated ZkSync token airdrop is set for around June 13, positioning it strategically before the Blast’s token drop later in the month. Developed by Matter Labs, ZkSync has repeatedly said that its dedication is strictly to decentralization.</p>
<h2 class="wp-block-heading" id="zksync-to-launch-governance-model">ZkSync to Launch Governance Model</h2>
<p>According to a spokesperson from Matter Labs, no definitive plans for the event have been finalized yet. However, the network is actively preparing for the airdrop and planning to execute it before June 26. A timeline was revealed through an internal message screenshot that found its way to the press.</p>
<p>The upcoming TGE isn’t just for the distribution of tokens, though. It is reportedly part of a broader initiative to roll out a governance model that hands control over to the community. This transition is scheduled to follow the TGE within 30 days.</p>
<p style="text-align: center;"><em>Also Read: <a href="https://www.cryptopolitan.com/zksync-plans-governance-token-airdrop/" rel="noopener noreferrer nofollow">ZkSync Plans Governance Token Airdrop</a></em></p>
<p>The sources added important information regarding the token’s ticker, saying that ZkSync intended to use ‘ZK,’ but Polyhedra Network has snagged this. Despite the overlap, ZkSync may still proceed with ‘ZK’ as Binance has yet to list the Polyhedra token, indicating a potential window of opportunity.</p>
<h2 class="wp-block-heading" id="zksync-s-efforts-towards-decentralization">ZkSync’s Efforts Towards Decentralization</h2>
<p>The layer-2 network is also focused on user engagement and network participation. Since last March, rumors of an impending airdrop have circulated after investors moved over $8 million worth of tokens to ZkSync. This influx has ballooned the total value locked (TVL) on the platform to $141 million, per DefiLlama’s <a href="https://defillama.com/chain/zkSync%20Era" rel="noopener noreferrer nofollow" target="_blank">data</a>.</p>
<figure class="wp-block-pullquote">
 <blockquote>
  <p>Decentralization is a big, irreversible step that requires utmost attention to detail at the intersection of complex technological and legal frameworks. In an industry often characterized by hype and short-term sacrifices, zkSync continues to put in the effort to stand apart – to build foundational technology that will stand the test of time.</p> <cite>ZkSync</cite>
 </blockquote>
</figure>
<p>Moreover, ZkSync is on the verge of releasing v24, the final protocol upgrade needed before governance is transitioned to the community. According to the team, this upgrade is a key piece in the puzzle of full decentralization and is expected to be in place by the end of June.</p>
<h2 class="wp-block-heading" id="ethereum-founder-praises-zk">Ethereum Founder Praises ZK</h2>
<p>ZkSync <a href="https://x.com/zksync/status/1791488199715348727" rel="noopener noreferrer nofollow" target="_blank">believes</a> it stands out as another Layer 2 solution and a pioneer in the “verifiable internet” era, potentially serving billions. They added that this commitment to foundational technology that stands the test of time separates the network from fleeting crypto trends.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en">There’s only one problem to solve: Scalability <br>There’s only one way to solve it: ZK <a href="https://t.co/ewKVsHgd9X" rel="noopener noreferrer nofollow" target="_blank">https://t.co/ewKVsHgd9X</a></p> — zkSync (∎, ∆) (@zksync) <a href="https://twitter.com/zksync/status/1792897506386354342?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">May 21, 2024</a>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Echoing this sentiment, Ethereum co-founder Vitalik Buterin <a href="https://x.com/VitalikButerin/status/1792792783847346662" rel="noopener noreferrer nofollow" target="_blank">predicted</a>, “In 10 years, all rollups will be ZK and will commit blocks with finalized state roots to L1 every slot. It will take a lot of infrastructure and prover optimization to get there, but that’s the clear endgame.”</p>
<p><em>Cryptopolitan reporting by Jai Hamid</em></p>

ZkSync Announces Token Generation Event With a Supply of 21 Billion

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