zkSync v24 Mainnet Upgrade Now Completed, Preparing for Expected Token Airdrop

Key Points:

• zkSync developers announced the completion of the zkSync V24 mainnet upgrade on June 7.
• zkSync plans to transfer network governance to the community by the end of June, with a token airdrop event expected around the same time.

The developers of zkSync announced the completion of the zkSync V24 mainnet upgrade on June 7.

zkSync V24 Mainnet Upgrade Has Been Completed, Boosting Platform Performance

The zkSync platform, renowned for its scalability solutions for Ethereum, aims to provide users with a seamless and efficient transaction experience. ZkSync V24 mainnet upgrade is expected to enhance the platform’s performance and user experience significantly. Further updates will be provided as the upgrade’s effects become clearer.

zkSync had previously indicated plans to transfer network governance to the community by the end of June. ZkSync V24 mainnet upgrade is the final major update before this transition. Launched in March 2024, zkSync committed to issuing tokens within a year. The platform’s airdrop incentive has attracted many cryptocurrency investors, pushing its Total Value Locked (TVL) to nearly $200 million at its peak.

Matter Labs, the company behind zkSync, has successfully raised up to $458 million through multiple funding rounds. The anticipated token airdrop event, expected around the end of June, is a crucial milestone in zkSync’s roadmap.

Matter Labs Drops “ZK” Trademark Amid Preparations for Major Developments

According to initial leaks, the layer-2 token will have a total supply of 21 billion. However, the token’s code name remains undecided due to trademark issues. Although zkSync wanted to use the “ZK” code to highlight its pioneering role in zk-Rollups technology, the Polyhedra Network preemptively used this code. Matter Labs recently abandoned efforts to register the “ZK” trademark following criticism from researchers.

In conjunction with zkSync’s developments, LayerZero and layer-2 Blast are also preparing for their own airdrop events, drawing significant attention from the cryptocurrency community. The timing of zkSync’s airdrop is likely to align with LayerZero’s evaluation of sybil wallets and Blast’s airdrop, making June a busy month for airdrop enthusiasts.