Could Ethereum L2 Platform zkSync Deploy Next Big Crypto Airdrop

By November 25, 2021Layer2
Click here to view original web page at beincrypto.com

Airdrop fever has taken the crypto space by storm recently and the next highly-anticipated token giveaway could come from layer 2 solutions provider zkSync.

On Nov. 24 zkSync posted a warning to users about scams and fake accounts going around. Many of them are promising airdrops and luring users into transferring tokens to fraudulent addresses.

In addition to the scam warning, the team mentioned that they had yet to launch their own token, which suggests that it is in the pipeline.

“zkSync doesn’t have a token yet … Don’t rush. Nothing is ever going to happen suddenly, without many weeks of notice.”

zkSync from Matter Labs accelerates Ethereum Layer 1 transactions by using zero-knowledge rollups to batch them as a single transaction to be processed off the root chain.

Why zkSync?

There are several reasons why the Layer 2 platform is likely to be one of the next to offer an airdrop. L2 is in huge demand at the moment with Ethereum gas fees off the chart again.

The total value locked across all L2 networks is currently at an all-time high of $6.5 billion, according to L2beat. The TVL on zkSync has surged 32% over the past 7 days to just under $40 million. A large portion of this is likely to be in anticipation of an airdrop.

In mid-October, zkSync launched a testnet of its EVM (Ethereum Virtual Machine) compatible zk-rollup. This means that smart contracts will be able to be processed on Layer 2. It also launched UniSync, a port of Uniswap v2 on the zkEVM platform, which needs liquidity for testing.

On Nov. 8, Matter Labs announced a $50 million Series B financing round that was led by Andreessen Horowitz. Efforts so far have gone into developing the platform, but its aim is to become decentralized and for that it will need a governance token which may also be used for staking and network validation.

Airdrop eligibility

Most platforms that have airdropped tokens usually do it retroactively, rewarding those that have participated on the platform. This was the case with the massive ENS airdrop that handed out thousands of dollars worth of tokens to those that had previously registered an Ethereum domain name.

Porting some L1 ETH over to zkSync would be a good way to start, and that can be done simply through its wallet and MetaMask. Gas fees should cost around $40 for the transfer at current levels.

Another way to gain potential eligibility for any airdrop should it occur is to test out UniSync. This can be done by going to the app, connecting MetaMask, approving the transactions, and switching to the Rinkeby testnet.

It costs nothing as testers are issued faucet tokens in exchange for tweeting a quick plug for UniSync. Typical transfers are executed in half a second with virtually no cost, so this platform could be revolutionary if it gains enough traction when launched to mainnet.

What do you think about this subject? Write to us and tell us!

All Today's Crypto News In One Place