zkSync Could Launch Token This Week
The Ethereum Layer 2 network’s long-awaited airdrop is expected in mid-June.
By: yyctrader • Loading...
DeFi![stylized digital tokens falling from above, glowing in neon blue](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F87029437870872bf7ba990201aaeff1805a3fa02-1792x1024.webp&w=828&q=75)
zkSync, an Ethereum Layer 2 network powered by zero-knowledge technology, is planning to conduct its Token Generation Event (TGE) this week, according to a report from The Block.
While the ticker is yet to be announced, the token is expected to have a maximum supply of 21 billion, with an airdrop for early adopters to take place within 30 days of the TGE, the report claims.
zkSync Era is a top 10 Layer 2 with $927 million in total value locked (TVL).
![zkSync Era TVL chart](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2Fcedc2b20c1920334925dd6f721e7777919f64320-853x365.jpg&w=828&q=100)
DeFi traders have been speculating on a potential airdrop ever since Era went live in March 2023. Last week, the project finally confirmed that a token would be forthcoming, posting that it “stands by its commitment to decentralize.”
More than three million wallets have generated 8.1 million transactions on the network to date, according to a Dune dashboard.
![Daily Transactions chart](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F631fe86afa49b08093c9b561202fc77e2bfa8845-811x389.jpg&w=828&q=100)
However, activity peaked shortly after Era launched and has trended lower ever since.
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