The Ethereum Zero-Knowledge (ZK) project had its airdrop set for June 17, 2024. The fundamentals of this network have attracted a lot of attention from the whole crypto world and Ethereum enthusiasts.

As such, there's a lot of hype around this 4-year star airdrop project, which is expected to be supported by all exchanges, including CoinEx, Kucoin, Bitget, and Bybit. That's a lot of support from a coin that hasn't airdropped yet.

So will ZK Launch at $1?

Currently, ZKsync has explained how they plan to distribute their ZK tokens. 17.5% of the total supply will be used for the airdrop, which is 3,675,000,000 ZK. 89% of the airdrop will be distributed to those who trade on ZKsync and meet the airdrop activity requirements, and the remaining 11% will go to the developers and researchers.

The additional 33% of the tokens will be distributed between the project's team and investors. This allocation is meant to reward early adopters and long-term supporters of this token.

As per the official ZKsync's X page, eligible users will get up to 100,000 ZK tokens, depending on the eligibility conditions before the March 25th snapshot. Whether this token might launch at a dollar or more remains to be seen.

ZKsync's mission is to increase the network's transactions while further reducing transaction fees, which is a decent plan. Couple that with the outstanding support that ZKsync is receiving from high-profile crypto players, and there's definitely a high chance that this coin will start at a dollar at launch.

Controversy around ZKsync Token distribution

ZKsync faced backlash after announcing its token distribution on Twitter, when users began checking their allocations. Some users expressed discontent with the rewards they received from the airdrop, with a few investors claiming they received lower token allocations compared to others with less activity.

Unfortunately, that led to a significant drop in the total value locked, from $200 million all the way down to $133 million. This decrease indicated that users are increasingly withdrawing their assets from the protocol.

In response, ZK's team announced how they were planning to allocate the airdrop and included an airdrop for the general user based on their DeFi activities. Overall, this layer-2 network is set to make a significant mark on the entire ETH blockchain and could potentially lead to a very bullish ZK price action. If you want to trade ZK, you can do so on CoinEx.

Overview

Name: ZK

Official link: https://zksync.io/

Total supply: 21,000,000,000

Whitepaper: https://docs.zksync.io/build

Twitter: https://x.com/zksync

Discord: https://join.zksync.dev/

Supported CEX: CoinEx

*This article does not constitute investment advice.