Ethereum
ZkSync, Ethereum Layer-2 network, tips for Airdrop by end of June
Zero Knowledge Rollup (ZK) zkSync suggested that a governance token airdrop would take place in late June.
There have been whispers of a parachute drop since March last year, when investors transferred over $8 million worth of tokens to zkSync in order to be eligible. The total value locked (TVL) has since increased to $141 million, according to ChallengeLlama.
“The upcoming v24 release is the final planned protocol upgrade needed before handing over network governance to the community. The remaining missing pieces should be in place by the end of June.” zkSync wrote on.
ZkSync is a layer 2 network designed to scale Ethereum, providing cheaper transactions by performing calculations and storing data off-chain; taxonomically it is classified as a layer 2 subtype known as ZK accumulationwhich is based on zero-knowledge cryptography, considered one of the most promising new technologies in blockchain.
Transaction fees became significantly cheaper after Ethereum’s Dencun upgrade in March, which allowed Layer 2 networks like zkSync to compress transactions before sending them in batches to the Ethereum mainnet.
The planned issuance of a governance token comes after a series of airdrops over the past year, with companies like EigenLayer, Renzo, Ethena, and Wormhole opting to reward early adopters rather than traditional token sales.
Matter Labs, the developers of zkSync, has raised a total of $458 million across multiple funding rounds from companies including Blockchain Capital and Dragonfly Capital.