PancakeSwap plans to distribute 2.4 million ZK tokens as part of an airdrop initiative to reward its community and increase engagement.
PancakeSwap, a leading decentralized exchange (DEX) on the Binance Smart Chain (BSC), has announced a massive airdrop of 2.4 million ZK to its users.
The DEX plans to distribute the airdrop tokens to its community as a gesture of appreciation for their ongoing and steady support of the zkSync PancakeSwap deployment since July 2023.
Over the last 12 months, PancakeSwap has achieved significant milestones with ZKsync by introducing key functionalities like smooth Swaps, Yield Farming, Prediction Markets, Fiat On-Ramp, Position Manager, and Syrup Pools.
The platform noted that these initiatives have led to remarkable and impressive achievements, including exceeding $3.6 billion in trading volume, $5.8 million in total value locked (TVL), and attracting over $1.9 million traders.
As of the time of publication, ZK is trading at $0.16 and has a market cap of $599 million.
ZKsync’s Design and Structure
The ZKsync airdrop is designed to recognize and reward both long-time contributors alongside vote-escrowed Cake (veCAKE) holders. It is also structured to support new participants who actively engage in PancakeSwap.
The airdrop will also extend to upcoming contributors who provide liquidity and engage in trading on zkSync PancakeSwap, which contributes to the platform’s continued growth.
According to the announcement, the ZK token distribution is accessible to veCAKE holders and previous contributors.
How to Claim PancakeSwap’s ZK Airdrop
To receive ZK tokens, eligible users must connect their wallet to PancakeSwap’s platform homepage and follow the instructions provided in the pop-up notification.
The announcement notes that any unclaimed tokens will be reinvested into the PancakeSwap ecosystem to support future development and community initiatives.
Interestingly, the platform stated that residents and citizens from specific jurisdictions may face restrictions that prevent them from participating in the ZK airdrop.
The platform urged users to comply with local laws and regulations before participating and noted that users must agree to comply with PancakeSwap’s terms and conditions by accepting the airdrop.
Meanwhile, the developer of zkSync has responded to accusations of “insider minting” concerning its Libertas Omnibus non-fungible tokens (NFTs), which he refutes claims.
The allegations, first raised by blockchain research firm SoEasy on June 17, claimed that Matter Labs distributed the NFTs to individuals who were not eligible.
