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Ethereum Layer-2 network ZkSync suggests an airdrop by the end of June
Zero-Knowledge (ZK) Rollup zkSync has suggested that a governance token airdrop will take place at the end of June.
There have been murmurs of an airdrop since March last year, when investors transferred more than $8 million worth of tokens to zkSync to be eligible. According to the data, the total value locked (TVL) has since risen to $141 million DefilLama.
“The upcoming release of v24 is the last planned protocol update needed before handing over network governance to the community. The remaining missing pieces are expected to be in place by the end of June,” zkSync wrote about X.
ZkSync is a layer 2 network designed to scale Ethereum, providing cheaper transactions by performing computations and storing data off-chain; taxonomically speaking, it is classified as a level 2 subtype known as a ZK windingwhich is based on zero-knowledge cryptography, seen as one of the most promising new technologies in blockchain.
Transaction fees became significantly cheaper following Ethereum’s Dencun update in March, which allowed layer-2 networks like zkSync to compress transactions before batching them to the Ethereum mainnet.
The planned issuance of a governance token comes after a series of launches over the past year with the likes of EigenLayer, Renzo, Ethena and Wormhole choosing to reward early adopters over traditional token sales.
Matter Labs, the developers of zkSync, have raised a total of $458 million in multiple funding rounds from the likes of Blockchain Capital and Dragonfly Capital.