ZkSync plans to airdrop 3.7 billion ZK tokens to user wallets next week.

ZkSync will begin distributing two-thirds of its 21 billion ZK token supply to community wallets next week, making it the largest token distribution from an Ethereum scaling project.

An initial airdrop of 17.5% of tokens will take place next week, with the remainder distributed through ecosystem initiatives and governance actions voted on by the newly created ZK Nation. The airdrop tokens, which will be distributed to 695,232 wallets, will be fully liquid from day one and no lock-up period will apply.

However, the foundation has limited the maximum allocation to one wallet to 100,000 ZK tokens.

“It is easy for whales to get away with large quotas without any restrictions,” the foundation wrote in a press release. “By limiting whales, ZK Airdrops provide fair rewards to community members who contribute to zkSync in various ways.”

This means that 89% of the airdropped tokens will go to users who have been active in the ecosystem, while the remainder will be distributed to developers, researchers, and companies that contributed to zkSync L2.

The one-third of tokens not allocated to the community will be split with 17.2% for investors and 16.1% for the Matter Labs team. Investor and Matter Labs tokens will be locked up for one year, after which they will be progressively unlocked until June 2028.

Matter Labs, the company behind the popular Ethereum scaling solution, said eligibility and allocation for the airdrop was determined by a March 24 snapshot of users who were active in zkSync Era L2 or used the zkSync Lite wallet. “Celebrating the one-year anniversary of the zkSync Era mainnet launch,” the company wrote in a press release.

zkSync Era was released last March. According to L2 Beat, the total value peaked at $990 million in March of this year, around the time the market rose significantly due to the Bitcoin ETF craze, but has since retreated to $786 million. This makes it the 8th largest L2 by total value locked.

Arbitrum One, an L2 scaling solution using optimistic rollup technology, is the most dominant. This accounts for a total locked value of $18 billion, or approximately 40% of all assets currently on the Ethereum L2 network.