ZKsync Airdrop Controversy: Behind the Lack of Transparency and Huge Project Disappointment

Bittime - Debate has arisen regarding ZKsync's airdrop plans. This plan, which was announced by Matter Labs and is scheduled for June 17, has actually sparked controversy.

The reason is, even though it will distribute 17.5% of the total original ZKsync tokens, this airdrop does not involve a number of key players in the ZKsync ecosystem. This also sparked disappointment and anger from several leading projects.

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Major Projects Disappointed With ZKsync Airdrop Distribution

Element, a leading NFT marketplace built on Ethereum's ZKsync Era Layer-2, was one of those who vocalized its dissatisfaction. In fact, Element accounted for nearly 70% of ZKsync Era's total trading volume through June 12. 

Also read: Mainnet v24 zkSync Ready to Launch June 6!

Via social media, Element questioned, "As the largest NFT marketplace on ZKsync, we do not accept any airdrops. Is this a joke?"

Similar disappointment was expressed by ZKApe, an NFT development platform that has generated $15 million in gas fees for ZKsync, and DMail, a decentralized messaging platform. 

DMail called their exclusion "unbelievable" given their high user engagement and transaction activity.

ZK Nation Opens Voice Regarding ZKsync Airdrop

Responding to the controversy, ZK Nation finally issued an official explanation via their blog. They detail the eligibility criteria and reasoning behind airdrop token allocation.

In the explanation, ZK Nation revealed that the wallets eligible for the ZKsync airdrop come from two main categories. They are both users (89%) and contributors (11%). 

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Users must bridge crypto assets to ZKsync Era and meet one of seven eligibility criteria. Meanwhile, contributors are recognized for their contributions to the development and empowerment of the ZKsync community.

ZK Nation emphasizes that this allocation aims to reward organic, long-term users, not participants who are only looking for short-term profits. They explained that transaction volume alone does not affect the size of the allocation. 

Also read: ZkSync Towards Decentralization: Tokens and Airdrops Coming Soon!

Instead, allocation is determined by a combination of eligibility criteria, time-weighted average balance (TWAB), and bonus multiplier.

For example, early Ethereum adopters and top ZKsync native NFT holders receive higher allocation multipliers.

"Cross-blockchain wallet history can reveal a lot about its owner. Real users tend to be more willing to take risks, especially when they feel part of a community," wrote ZK Nation. 

“They take the time to explore, try new protocols, and hold speculative assets. "On the other hand, bots and opportunists tend to play it safe, engage little, and try to blend in to take advantage," the statement continued.

The blog also addresses specific complaints. Some users who meet some eligibility criteria but receive a smaller allocation may have a lower balance while investing or not have an appropriate qualifying multiplier. 

Additionally, ZKsync Lite users will need to bridge assets to ZKsync Era to qualify. This is a step that some users may miss.

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ZKsync Airdrop Controversy

This controversy highlights the challenges in fair and balanced distribution of crypto airdrops. Often, non-transparent selection and eligibility criteria lead to disappointment and debate.

As the airdrop date approaches, the crypto community is becoming increasingly critical of the distribution criteria and results set by Matter Labs. They demand transparency and fairness in the implementation of the ZKsync airdrop.

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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.