ZkSync Token Airdrop For Holders Is A Smart Design To Promote Community, Founder Said

Key Points:

• zkSync token airdrop aimed to build a resilient community with previous airdrop participation as a key qualifier, according to the founder.
• Over 3.6 million ZK tokens were distributed to 695,000 addresses, with more than 45% claimed in under 2 hours, despite subsequent significant sell-offs.

zkSync, the pioneering zk-rollup platform, has made significant strides with its recent token airdrop, ZK, aimed at fostering a robust community ecosystem.

zkSync Token Airdrop to Holders to Enhance Community Capabilities

Alex G, the founder of zkSync, highlighted the strategy of leveraging external signals like sustained holdings from previous zkSync token airdrops to strengthen ZK Nation.

Key predictions suggest that holding STRK, ZK, and ZRO will emerge as the primary indicators for future airdrop qualifications. Responding to feedback, Alex G emphasized the strategic advantage of rewarding long-term ecosystem participants post-airdrop, a move perceived as enhancing community resilience.

As per Coingecko data, circulating supplies currently stand at 17.5% for ZK, 13% for STRK, and 25% for ZRO, signaling potential unlocking pressures ahead, particularly for tokens with lower circulating volumes.

ZK Token Faces Price Volatility Post-Airdrop

The recent zkSync token airdrop by zkSync distributed over 3.6 million tokens across 695,000 eligible addresses, rewarding users who engaged with zkSync Era or zkSync Lite. Impressively, ZK Nation reported that within two hours, more than 45% of the airdropped supply was claimed by over 225,000 addresses.

Following the zkSync token airdrop, however, ZK faced considerable price volatility, primarily due to significant sell-offs. Data from Nansen revealed that 41% of recipients sold their entire allocations, while approximately 30% liquidated portions within 24 hours, leaving less than 29% to retain their tokens post-airdrop.

Initially launching at $0.27 with an $800 million market cap, ZK’s value swiftly declined post-launch, currently trading at $0.175 with a market cap exceeding $641 million at the time of writing.