DeFi
Airdrop Buzz Sparks $47 Million in Flows to zkSync – DL News
- Layer 2 Ethereum network zkSync has seen $47 million in inflows since Tuesday amid airdrop speculation.
- The ZkSync release is expected to take place next month.
- Matter Labs remains silent on possible anti-sybil procedures.
Investor activity on zkSync is once again abuzz amid speculation that the highly anticipated blockchain airdrop is imminent.
DeFi users have deposited around $47 million into zkSync since Tuesday, according to data from DefiLlama. watch.
For comparison, Polygon generated $8 million in flows during the same period, the second highest among all blockchains.
ZkSync, an Ethereum layer 2 blockchain, has not seen this level of inflow since March, when memecoin speculation reached fever pitch.
Speculation about a zkSync airdrop began last week when blockchain developers Matter Labs announcement the final network upgrade before handing over project governance to the community by the end of June.
DeFi-inclined users inferred that this announcement meant the release of zkSync’s native token which will be used to govern the blockchain.
Part of this token release event could also include an airdrop for early adopters – DeFi users who have transacted on zkSync.
ZkSync’s competitors, Optimism and Arbitrum, also used a token launch and airdrop to kick off their decentralized governance process.
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Matter Labs has not published any official literature on the airdrop, but reports emerged this week that it could happen on June 13.
This would make June a big month for airdrops, with investors also expecting airdrops from DeFi protocol LayerZero and blockchain network Blast.
The block reported that zkSync’s token generation will take place this month with an offering count of 21 billion tokens.
Splitting a project’s token generation event and the actual airdrop is rare in crypto. But the Ether recovery protocol EigenLayer chose this method with the tokens locked to avoid a price drop that often occurs immediately after airdrops.
ZkSync, along with LayerZero, has been among the most anticipated crypto airdrops, and both have attracted significant agricultural activity and fears of possible activity from Sybil.
Farming involves transacting on DeFi protocols or blockchains to become eligible for possible airdrops.
Sybil farming goes a step further by deploying a pool of wallet addresses to bypass the process and guarantee a higher than average share of the token distribution.
LayerZero has already advised mercenary airdrop fighters to self-declare or lose their token allocation.
Matter Labs has not publicly stated its anti-sybil protocols, if any.
The developers did not immediately respond to a request for comment.
Osato Avan-Nomayo is our DeFi correspondent based in Nigeria. He covers DeFi and technology. To share tips or story information, please contact him at osato@dlnews.com.