zkSync is allegedly planning token generation event and airdrop

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.

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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.

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"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.

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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.