Community feedback, governance participation metrics

zkSync Announces Token Generation Event and Airdrop Plans with 21 Billion Tokens

May 21, 2024, 03:30 PM

zkSync, an Ethereum layer-2 network utilizing zero-knowledge (ZK) rollups, has announced plans for a token generation event (TGE) this week, with a total supply of 21 billion tokens. The network has completed its decentralization process and aims to hand over governance to the community. A token airdrop is expected to follow within 30 days after the TGE, around June 13, and possibly extend to the end of June. This move aligns with zkSync's commitment to decentralization and community governance, with the release of v24 being the final planned protocol upgrade. The criteria for distributing the $ZKS tokens will include volume and other factors, with a deadline for eligibility set for June 1, 2024. Notably, zkSync wants the ticker $ZK, but Polyhedra Network has already claimed it.