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News

The ZK Token Airdrop Claim Window Will No Longer Be Opened Today

January 3, 2025 - Around 2 mins mins to read

Key Points:

  • ZK Nation has closed the claiming window for its $907 million ZK token airdrop, redirecting unclaimed tokens to Token Assembly.
  • ZKSync faced criticism for strict anti-sybil measures, leading to mixed reactions and mass sell-offs by users.
ZK Nation has announced that the claim period for its long-awaited ZK token airdrop has been concluded.
The ZK Token Airdrop Claim Window Will No Longer Be Opened Today

Read more: Deutsche Bank Layer 2 Built on ZKsync Technology

ZK Token Airdrop Concluded, Unclaimed Tokens to be Moved into Token Assembly

Community members are invited to check whether there is any unclaimed token on the official website. The remaining tokens will be moved into Token Assembly.

In fact, despite its scale, the ZK token airdrop is mired in controversy. A total allocation of $907 million makes it one of the largest token distributions in the blockchain space.

However, the community has reacted differently. Many users were frustrated with the strict criteria put in place by ZKSync to avoid sybil attacks and felt that these measures unfairly excluded actual participants. Critics say the project team looked out for its interests rather than those of ordinary users, which is why the sell-offs began en masse immediately after the airdrop.

Declining Activity Forces Matter Labs to Downsize Workforce

Developed by Matter Labs, ZKSync uses the Zk Rollups technology for scaling Layer-2 Ethereum. In particular, in many respects, the platform has been leading in the ecosystem on many occasions by average transaction volume among Ethereum networks with deployed Zero-Knowledge technology.

However, since its second airdrop in June, the transaction activity on ZKSync has declined consistently. To put into perspective, Linea and Scroll have overtaken the zkSync Era in terms of transaction volume. The situation is not any good as Matter Labs laid off 16% of its workforce early in September owing to the network’s loss of momentum.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Matter Labs

ZK rollups

ZK Token Airdrop

Zksync

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.