Jun 17, 08:02 AM

ZKSync's 3.675 Billion ZK Token Airdrop Sparks Controversy Amid Allegations and Trading Debut

The ZKSync Association has announced a major airdrop of 3.675 billion ZK tokens to early users and contributors of its Ethereum Layer 2 network, ZKSync. However, the distribution has sparked significant controversy. Investigations revealed that one ZKSync developer allegedly used 47 wallets to receive 660,369 tokens, all connected through a Disperse contract, dispersing 0.05 ETH on 550 wallets. Additionally, 12,892 wallets received a total of 105 million ZK tokens without any transactions on the network, with some wallets receiving as much as 81,852 ZK (approximately $33,500 at pre-market rates). The airdrop has been criticized for giving tokens to protocols that have not yet deployed or have zero traction, while actual contributors like KyberNetwork received none. The ZKSync token is now live for trading, with a market capitalization near $900 million after listings on Binance and other exchanges. As of now, 66.9% of the airdrop has been claimed by 430,706 addresses, equivalent to 2.46 billion ZK tokens ($607.6 million). 17.5% of the total supply was allocated to 695,000 wallets.

#ZKSync Association #ZKSync #Disperse #KyberNetwork #Binance

Written with ChatGPT (GPT-4o).