ZKSync Airdrop: End of the Retrodrop Era?
Synbo Research Report: ZKsync’s future
The much-awaited ZKSync airdrop has arrived, with only 695,232 out of 5 million wallets eligible. Notably, the top 50,000 addresses took home 50% of the total airdrop.
Key criteria for eligibility included:
- Interaction with 10 smart contracts
- Depositing in DeFi protocols
- Completing 5 transactions using a paymaster
- Exchanging more than 10 different ERC20 tokens
- Holding the Libertas Omnibus NFT
- Donating to Gitcoin via ZKSync Lite
- Activity in ZKSync Lite over three different months before the launch of ZKSync Era
The airdrop was based on these seven criteria, disregarding weekly or monthly activity and the volume of funds. The snapshot was taken on March 24, 2024.
Only a few experienced retrodrop hunters managed to succeed under these new, stringent criteria.
On-chain communities were also rewarded, including Milady Maker and Pudgy Penguins NFT holders, as well as recipients of DEGEN and Bonsai token airdrops. This comprehensive approach highlights a shift towards rewarding genuine, active participation over simple eligibility, making quality more important than quantity. The ZKSync team also took measures to identify and exclude Sybil accounts, ensuring a more equitable distribution.
Many users could meet the first two criteria, but unfortunately, those with minimal activity were excluded. Their airdrop allocations were reallocated to users with higher scores and weights, leading to the top 50,000 addresses receiving 50% of the airdrop.
ZKSync Airdrop Details:
🖱️ Checker: https://claim.zknation.io
ZKSync announced the token distribution model: 17.5% of the total 21 billion tokens were airdropped, all immediately available with no lock-up period. Team and investor allocations total 33.3%, locked for one year, then vested over three years.
ZK Token Distribution:
🖱️ Airdrop Allocation Details: https://blog.zknation.io/zk-token/
ZKSync responded to community feedback by canceling the original airdrop rules. On June 12, the team announced via Twitter that they would explore these issues further, possibly altering the airdrop rules. We await further developments.
SYNBO Protocol’s Perspective 🤔
The ZKSync airdrop highlights a significant trend in the decentralized venture capital landscape. High valuation, low circulation VC projects are experiencing intense FUD (Fear, Uncertainty, and Doubt), affecting the broader Web3 market. The ZKSync airdrop distribution reflects a shift towards rewarding genuine, active participation over mass eligibility.
SYNBO Protocol’s decentralized approach aims to enhance transparency and fairness in venture capital. By prioritizing meaningful engagement and rewarding genuine contributors, we hope to foster a healthier, more sustainable ecosystem.
The question remains:
Who really profits in this game, and is there still a future for airdrop hunters?
Stay tuned for more insights and developments from SYNBO Protocol.
About Synbo
Synbo Protocol is an underlying protocol for decentralized venture capital. It enables consensus decision-making instead of centralized decision-making through a incentive game with rewards and penalties based on Proof-of-Position. Synbo is committed to connecting quality projects with investors, propagating the value of the projects, and helping them shine in the crypto world.
