zkSync recently tweeted about plans to hand over governance to the community next month, indicating that a token airdrop might be imminent.

zkSync, an Ethereum-based zero-knowledge (ZK) solution, hinted at a token distribution after the developers release the protocol’s upcoming v24 version by the end of June. The project leverages ZK cryptographic technology to scale Ethereum’s (ETH) blockchain, providing users with affordable transactions on the second-largest decentralized network in the world.

With the deployment of proto-danksharding through the Dencun upgrade, Ethereum gas fees have become even cheaper. Data from L2Fees shows that it costs less than a dollar to send ETH or swap tokens on the zkSync layer-2 rollup.

Ethereum layer-2 transaction fees are now highly affordable.

zkSync Governance Token Anticipated Since March 2023

Users have been anticipating an airdrop since at least March 2023, when the protocol allowed users to bridge funds to the network. According to DefiLlama, investors and traders have deposited over $141.9 million into the zkSync Era contract over the past year. Although details on the token supply are unavailable, the funding suggests sizable community allocations and incentives.

zkSync Era TVL

zkSync developer Matter Labs has raised around $458 million from venture firms like Blockchain Capital, Dragonfly Capital, and Lightspeed Venture Partners.

If the zk rollup unveils a token next month, Matter Labs would join other Ethereum projects that have distributed tokens to investors such as EigenLayer, Ethena, and Wormhole. Participants may also track how the airdrop is conducted, as projects like LayerZero combat Sybil addresses to reward long-term users.

zkSync is committed to decentralization. Since rolling out support for EIP4844 in March, this has been their primary focus. The upcoming release of v24 is the final planned protocol upgrade needed before handing over network governance to the community.

For more updates on zkSync and other cryptocurrency news, continue exploring Global Crypto News.

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