21 Billion ZkSync Tokens Will Be Released: What You Need to Know
ZkSync is preparing for its token generation event (TGE) this week, with a token launch and airdrop expected soon. The total supply of ZkSync tokens will be 21 billion. Despite the difficulties in the Polyhedra Network, the ZK stock symbol was designed. Decentralization work is ongoing and an upgrade is planned to speed up the process.
ZkSync’s June TGE and Airdrop Set
ZkSync We are ready to hold the highly anticipated TGE this week. Following the TGE, there will be a token distribution and token distribution or ‘airdrop’, which is expected to take place on June 8. Overall, the amount of ZkSync tokens in circulation is set at 21 billion. As for existing ticker symbols, it has become difficult to assign the symbol ‘ZK’ to ZkSync because Network of Polyhedra previously used this symbol. But even then, ZkSync may still prefer ZK; especially noting that Polyhedra’s token is not listed on Binance.
Following the first public launch of the Era mainnet in March 2023, the decision to issue tokens within a year attracted much attention. This policy, along with the airdrop platform, has attracted great attention among crypto investors. The maximum TVL amount on ZkSync was around $200 million but as of now it is closer to $141 million. ZkSync also ranks eighth. Ethereum layer 2 resolves based on the total value currently locked.
Matter Labs Plans to Upgrade to Decentralization
Matter LaboratoriesThe team behind ZkSync is currently in the process of decentralization, but the details have not been formalized yet. The company shared tips on launching a token and airdrop by the end of June. A future upgrade is expected to help centralize the protocol more quickly. This week, zkSync announced that decentralization is complete and the latest protocol update, v24, will be released shortly. This change is a trend towards decentralizing network management to the community. It also hints at the upcoming token launch.
Since contributing to support EIP-4844 In March, ZkSync aimed for complete decentralization. The core protocol update for V24 will be the final update needed to transfer network sovereignty to the community. This change is expected to strengthen the protocol and encourage more users and developers to become part of the ecosystem.
ZkSync has raised significant funding from leading venture capitalists. a16z, Dragonfly Capital and Blockchain Capital. It secured $258 million in financing and also announced a $200 million ecosystem development fund. This support has been instrumental in the development and evolution of ZkSync. The ecosystem development fund at ZkSync aims to foster innovation by supporting new projects and developers.
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Maxwell is a crypto-economic analyst and Blockchain enthusiast who is passionate about helping people understand the potential of decentralized technology. I write extensively on topics like blockchain, cryptocurrency, tokens, and more for many publications. My goal is to spread knowledge about this revolutionary technology and its effects on economic freedom and social well-being.
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