- ZkSync is organizing a token creation event this week with a 21 billion token supply overall.
- ZkSync token airdrop is scheduled to take place on or around June 13.
This week will mark ZkSync’s token generation event (TGE), an Ethereum Layer 2 network created by Matter Labs as per rumours.
According to the sources, the token launch—which will include an airdrop—will happen within the following 30 days of the TGE. They also stated that there will be a 21 billion token supply for the cryptocurrency.
ZkSync has stated that the airdrop would occur before Blast’s token airdrop on June 26. The Block was able to view an internal communication screenshot that the company is presently targeting for June 13.
According to one source, ZkSync is interested in using the ticker ZK for its token; however, because Polyhedra Network has already claimed the ticker, there are now some problems. They pointed out that Binance hasn’t listed Polyhedra’s coin and that ZkSync can yet choose to use the ZK ticker.
Right now, zkSync is moving toward decentralization.
Introduction of ZkSync token
ZkSync said last week that it will shortly roll out an upgrade to speed up the decentralization of its protocol, implying that there will be a token launch and airdrop before the end of June.
ZkSync stated last week that the imminent release of v24 is the last scheduled protocol upgrade required before transferring network control to the community. By the end of June, it is anticipated that the last few missing parts will be in place.
High-profile investors, including as Andreessen Horowitz (a16z), Dragonfly Capital, Blockchain Capital, Crypto.com Capital, Placeholder Capital, and 1kx, support Matter Labs, the company developing ZkSync. In addition to raising a $200 million ecosystem fund, the initiative has raised $258 million in venture capital in total.
One of the well-known Ethereum Layer 2 networks, ZkSync, uses ZK-rollups to scale Ethereum, which speeds up and lowers the cost of using the blockchain. ZK-rollups “will win out in all use cases” in the medium to long term, according to Ethereum co-founder Vitalik Buterin, because of their advantages in certain applications and other use cases.
Buterin reaffirmed his position on ZK-rollups earlier on Tuesday, stating that in ten years, all rollups will be ZK and commit blocks with finalized state roots to L1 at every slot. Though getting there will require significant infrastructure and prover optimization, that is the obvious goal.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
