PancakeSwap, a decentralized exchange (DEX) operating across multiple blockchains, has announced a major community reward program set to run from July 5 at 10:30 am UTC to August 5 at 10:30 am UTC.
The initiative will see the distribution of 2,452,128 zkSync (ZK) tokens to members of the community, as a token of appreciation for their unwavering support of the zkSync PancakeSwap deployment since July 2023.
This announcement comes on the heels of PancakeSwap achieving significant milestones, including surpassing $3 billion in trading volume, $5 million in total value locked (TVL), and boasting over 1.9 million total traders.
Eligibility for the zkSync airdrop will be extended to both past and future contributors, as well as vote-escrowed Cake (veCAKE) holders. Active users who have engaged with the platform through trading, liquidity provision, and participation in previous zkSync initiatives will be eligible for the airdrop. Additionally, future contributors who provide liquidity and engage in trading with zkSync PancakeSwap to drive the platform’s growth will also receive the airdrop.
In regards to the 2.4 million ZK airdrop, the PancakeSwap team told Cointelegraph:
A chart indicating User Category and the calculations for the airdrop distribution.
The airdrop distribution is currently open to veCAKE holders and past contributor user categories. Eligible users can claim the ZK tokens by connecting their wallet to the PancakeSwap platform homepage and following the pop-up notification guide. Any unclaimed tokens will be reassigned to the PancakeSwap ecosystem for future development and community initiatives.
Recently, Matter Labs, the developer behind zkSync, has faced allegations of “insider minting” related to its Libertas Omnibus non-fungible tokens (NFTs). These accusations, initially made by blockchain research firm SoEasy on June 17, suggested that Matter Labs distributed the NFTs to ineligible insiders. In response, a Matter Labs representative clarified to Cointelegraph that “there were no invalid mints” and that the NFTs were legitimately acquired through interaction or by event attendees.
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