- zkSync is allegedly planning a token generation event (TGE) this week and an airdrop launch in June.
- Matter Labs, the developers behind zkSync, decided to go fully decentralized.
- zkSync airdrop may be released in June with a total supply of 21 billion tokens.
A report from The Block on Tuesday stated that zkSync may have plans for a token generation event (TGE) later this week and an airdrop in June.
Read more: DeFi and Layer 2 coins rally following Ethereum's rise
zkSync to launch airdrop
According to reports from The Block, zkSync, an Ethereum L2 protocol, is allegedly planning to conduct a token generation event (TGE) later this week and a follow-up airdrop launch around mid-June.
Last week, zkSync hinted at a token launch at the end of June, coinciding with its v24 upgrade, the final planned protocol upgrade, before transitioning network governance to the community. Matter Labs, the developers behind zkSync, announced this move towards full decentralization in September 2023.
Also read: Ethereum continues bullish momentum as SEC informs exchanges it would approve spot ETH ETFs
"The upcoming release of v24 is the final planned protocol upgrade needed before handing over network governance to the community," zkSync said in a post last week. "The remaining missing pieces are expected to be in place by the end of June," they added.
The airdrop launch is expected in mid-June, with a total token supply of 21 billion, as reported by sources from The Block.
zkSync is also exploring using "ZK" as the token's ticker symbol. However, there have been reports of potential conflicts with Polyhedra Network, which has also been associated with the same symbol. Despite this, zkSync may move forward with the symbol "ZK," given that the Polyhedra token has yet to be listed on Binance.
Read more: Week Ahead: Ethereum and DeFi to come under spotlight this week
As a top-rated Ethereum Layer 2 network, zkSync is known for its popular zk technology, and the launch of a native token could potentially enhance its usability and scalability on the Ethereum chain.
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