.jpg)
Nearly half of the top beneficiaries of ZKsync’s airdrop liquidate their governance tokens on day one.
Data from Nansen Offers That over 41% of 10,000 wallets sold the full allocation received from Ethereum’s zero-knowledge (ZK) protocol, ZKsync.
According to the analytics company, more than 4,160 titles were sold after claiming the ZK token. About 30% of top recipients have sold partial allocations, and less than 29% of claimants still hold tokens after the airdrop.
As crypto.news previously mentionedThe sell-off of ZK tokens caused a % drop in the price of the coin, which was trading at around 20 cents at press time. Nansen reported that airdrop claimants have sold roughly $500 million worth of ZK on the open market, although the top takers are offering a small portion of the overall distribution plan.
ZKsync plans to share 3.67 billion tokens with 695,232 addresses, which means the top 10,000 wallets will only receive 1.44% of the allocation. As of June 17, less than half of the portfolios were eligible claimed Less than 50% of airdrop.
Are ZKsync ZK resellers Sybil growers?
Faint Sybil filtering is ranked as one of the biggest problems linked With ZKsync airdrop. Sybil airdrop farming occurs when a single user uses hundreds or even thousands of wallets to collect protocol activity.
The ultimate goal is to collect as many tokens as possible through an airdrop process that would otherwise go into individual user wallets and eventually unload after token listings on cryptocurrency exchanges.
Members of the cryptocurrency community have long lamented this practice. While you like protocols Layer Zero After redoubling its efforts to stop Sybil’s involvement, ZKsync adopted a different approach.
Analysts noted that several Sybil addresses on LayerZero’s airdrop blacklist received thousands of ZK tokens. However, a Nansen representative told crypto.news that it is still unclear whether Sybil farmers are mostly behind the token dumps.
Whatever the case, ZKsync developer Matter Labs seems unfazed by this activity. The company’s CEO, Alex Gluchowski, reportedly said that more airdrop tokens flowing into open markets means more ZK tokens will be available to actual government participants.
