ZKSync to Airdrop 17.5% of ZK Token Supply to 695K Wallets

The airdrop will allocate two-thirds of the token supply to community initiatives.

Matter Labs, the company behind the Ethereum-based Layer 2 network ZKSync, is preparing to launch its much-anticipated ZK token airdrop. According to the distribution plan announced on Tuesday, 17.5% of the total 21 billion ZK token supply will be airdropped to users starting next week.

The ZK airdrop is set to be the largest token distribution among major Layer 2 networks, with nearly 3.7 billion tokens allocated to users. Pre-market pricing from perpetuals exchange Aevo values ZK at $0.66, putting the airdrop's fully diluted value (FDV) at over $2.5 billion. On PancakeSwap, the token is trading at an average price of around $0.7. To put this into perspective, the latest airdrop valuation is about three times the total value locked (TVL) in ZKSync Era. Current market capitalization for the token is estimated at about $14.9 billion.

The project has allocated two-thirds of the ZK token supply to its community, with the majority (89%) of the airdropped tokens going to users who interacted with the ZKSync Era or ZKSync Lite networks prior to the March 24 snapshot. The remaining 11% will be distributed to native projects and communities.