ZkSync, a zero-knowledge (ZK) community, has hinted that the airdrop of the governance token will be held at the end of June. ZkSync, the Ethereum layer-2 network, has been the subject of speculation since March last year, when investors transferred over $8 million in tokens to the platform to qualify for the airdrop. The total value locked (TVL) has since risen to $141 million, as reported by DefiLlama.
The upcoming v24 is the last planned protocol upgrade before network management is handed over to the community. ZkSync stated that the remaining components are expected to be ready by the end of June.
ZkSync is a layer-2 network designed to scale Ethereum by storing computations and data off-chain. ZK falls into the rollup category, it is known as a subtype of layer-2 that takes advantage of zero-knowledge cryptography.
Following Ethereum's Dencun upgrade in March, transaction fees have decreased significantly. This upgrade enabled layer-2 networks like zkSync to compress transactions before sending them to the Ethereum mainnet, allowing for transaction fee savings.
Matter Labs, the developers behind zkSync, has raised a total of $458 million across various funding rounds.
*This is not investment advice.