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Today, the overall cryptocurrency market is experiencing significant declines, including top assets like Bitcoin, Ethereum, Solana, and many others. Amid this massive downturn, ZKsync announced on June 11, 2024, that they are set to distribute 3.675 billion ZK tokens to early adopters and contributors of its Ethereum Layer 2 network, ZKsync, next week. ZKsync airdrop details&nbsp; 
The ZKsyncairdrop tokens will be available for users to claim starting next week and will remain claimable until January 3, 2025. Contributors will have access to their tokens beginning June 24. A total of 695,232 wallets have been shortlisted for this airdrop. 
This massive token distribution accounts for 17.5% of the total supply of 21 billion ZK tokens. According to the report, of the 17.5% ZK airdrop, 89% will go to users who actively transacted on ZKsync and met specific activity thresholds. The remaining 11% will be distributed to contributors, including developers, researchers, and advocates who supported the ZKsync ecosystem through various forms of engagement. ZKsync Association statement on airdrop&nbsp; 
Following this announcement, the ZKsync Association made a statement highlighting the importance of the token distribution model:
“Awarding more tokens in the airdrop than to the Matter Labs team and investors is more than a symbolic decision for the community. When the ZKsync governance system launches in the coming weeks, the community will have the largest supply of liquid tokens to direct protocol governance upgrades.”
Beyond this <a href="https://news.todayq.com/crypto-airdrop-how-to-claim-it-and-how-to-be-eligible-for-it/" rel="noopener noreferrer nofollow">airdrop</a>, a substantial 49.1% of the total token supply will be allocated to ecosystem initiatives. Investors will receive 17.2%, and the Matter Labs team will get 16.1%. This planned distribution is designed to support the ongoing growth and development of the ZKsync network. What is ZKsync? 
For those who are not familiar with ZKsync, it is a technology that makes the Ethereum blockchain faster and cheaper to use. It groups many transactions together and processes them outside of the main blockchain, reducing congestion and lowering fees.
Besides the ZKsync airdrop, today the overall crypto market is down by 2.5%. Bitcoin (BTC), Ethereum (ETH), BNB (BNB), and Solana (SOL) experienced price drops of 3%, 4%, 5%, and 3.5%, respectively. Meanwhile, the 24-hour trading volume has increased by 70%, indicating substantial participation from investors, traders, and institutions.

Airdrop Alert! 3.6 billion ZKsync tokens up for grabs next week

Todayq News

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