ZK Nation Responds to Community Doubts on ZKsync Airdrop, Highlights Eligibility Criteria
ZK Nation, the community behind ZKsync, provided a detailed response to the community’s questions and concerns on June 13 regarding the upcoming ZKsync airdrop.
The explanation clarified the eligibility criteria and the reasoning behind the airdrop distribution to ensure fairness and reward long-term commitment within the community.
ZKsync Airdrop Eligibility Criteria
The ZKsync community’s explanation comes after an initial airdrop announcement of 3.675 billion ZK tokens to 695,232 wallets next week. It was revealed that 17.5% of the token’s total supply of 21 billion would be distributed to the eligible wallets.
The upcoming June 14 airdrop was divided into two main categories: users and contributors. According to the document released, users constituted 89% of the airdrop, requiring participants to bridge crypto-assets to the ZKsync Era and meet at least one of the seven eligibility criteria.
Thank you for all the feedback and discussions over the past few days.
In 2024, airdrops are extremely challenging. Sophisticated industrial farms operate millions of bots indistinguishable from real people in behavioral patterns. This renders traditional activity-based airdrops…
— ZK Nation (@TheZKNation) June 13, 2024
Despite meeting all criteria, users with smaller average holdings might not have been qualified due to the intricate formula that considers the amount sent to ZKsync Era and the duration the assets stayed in the wallet.
These criteria, which users described as marginalized distribution strategies, led to a loss of confidence in the airdrop in general. This, in turn, led to a drop in the project’s Total Value Locked (TVL) from nearly $200 million to $128 million.
“The formula depends on how much was sent to ZKsync Era and the length of time the crypto assets stayed in the wallet,” ZK Nation explained.
Contributors comprised 11% of the airdrop, including developers, researchers, communities, and companies contributing to the ZKsync protocol and ecosystem, irrespective of their network usage.
This group did not require ZKsync Era activity. Instead, it focused on individuals and groups who built early projects on ZKsync, contributed to GitHub repositories, conducted security research, moderated the community on Discord, or participated in communities like Degen and Bonsai.
The user-based allocation sought to reward a diverse group of ZKsync Era users by identifying those who bridged assets and providing a multiplier bonus for organic behaviors.
According to the ZK Nation, the goal was to ensure that committed community members were rewarded.
“Real users tend to take more risks when they feel part of a community,” ZK Nation explained. “They explore, try new protocols, and hold speculative assets.”
ZKsync Airdrop Allocation Factors Detailed
The ZKsync community has provided an in-depth explanation of the factors determining the upcoming ZKsync airdrop allocations. According to their announcement, the allocations are based on several criteria, including the number of conditions met, the amount bridged and held on ZKsync Era, and a bonus multiplier for specific behaviors and groups.
According to ZK Nation, transaction volume alone did not impact the allocation size. To qualify for the airdrop, the results had to exceed ZK 450. Value scaling played a major role in rewarding users who maintained assets over time in the ZKsync Era.
Allocations were adjusted based on the amounts sent and the duration of the holding. For example, an address holding $100 since the mainnet launch was weighted more favorably than one that deposited $100 shortly before the snapshot.
ZK sync Eligibility Criteria Source: https://docs.zknation.io/zk-token/zk-token-faq
While ZKsync Lite users could earn up to two eligibility points, they still needed to bridge assets to ZKsync Era to qualify.
The post ZK Nation Responds to Community Doubts on ZKsync Airdrop, Highlights Eligibility Criteria appeared first on Cryptonews.
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