ZkSync, the Ethereum Zero-Knowledge Layer-2 scaling solution, has been in the spotlight for its new token. Last week, the project’s announcement of its ZK token airdrop was met with backlash from investors and the crypto community.
Following the backlash, crypto exchange Binance announced it would list ZK and offered a new distribution program to address users’ concerns. Since its launch, ZK has dropped over 20%.
ZkSync’s Airdrop Drama
On June 11, ZK Nation announced the upcoming launch and airdrop of zkSync’s token. Over 3.6 billion ZK tokens could be claimed by 695,000 eligible addresses on Monday.
However, the distribution left many long-term users discontent with the token allocation they received. Several investors expressed disappointment after receiving a lower allocation than users with less volume or transactions. Other customers shared that they were not eligible for the airdrop despite meeting the criteria.
Similarly, various top-ranking projects built o
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