ZKSync’s ZK token airdrop has raised the hackles of investors

ZKSync’s ZK token airdrop has raised the hackles of investors

ZKSync’s ZK token airdrop has ruffled the feathers of many an investor, as well as the overall crypto community. Towards this, Binance has jumped in with a rescue team and suggested a fresh way of approaching the allocation scheme for pacifying the heckled users. Incidentally, ZK has fallen by more than 20% in the bargain. 

On the 11th of June, 2024, ZK Nation shared the news of the impending airdrop about zkSync’s token. It also included the fact that more than 3.6 billion ZK tokens would be on offer for 695,000 deserving claimants. 

There seemingly were many discrepancies observed, with regards to the distribution. Certain sections claimed they received nothing, despite being deserving, whereas, another section felt the disbursement was carried out in a biased way, with individuals initiating a lesser amount of transactions receiving more. All in all, it left the users more than disgruntled. 

In the same way, multiple high-level projects that were created on zkSync decided to form a body for not coming under the airdrop scheme. In the case of Element and zkApes, despite collecting $20 million in the form of gas fees for the network, came away empty-handed. 

Users attributed the entire fiasco to the missing anti-Sybil processing. 

To address the issue, the company thought that effective Sybil processing would help in getting rid of simple Sybil and slipping past bots and Sybil accounts. 

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Now, Binance has jumped in to clear the mess. It will begin with registering ZK, followed by allocating 10.5 million ZK tokens targeting 52,000 eligible users. However, Binance has made it clear that this exercise will have nothing whatsoever to do with the ZK Nation airdrop.

Harsh Chauhan: Harsh Chauhan is an experienced crypto journalist and editor at CryptoNewsZ. He was formerly an editor at various industries and has written extensively about Crypto, Blockchain, Web3, NFT and AI. Harsh holds a Bachelor of Business Administration degree with a focus on Marketing and a certification from the Blockchain Foundation Program. Through his writings, he hold the pulse of rapidly evolving crypto landscape, delivering timely updates and thought-provoking analysis. His commitment to providing value to readers is evident in every piece of content produced.