ZkSync Airdrop Could per chance possibly Be Valued Higher Than the Complete Community’s TVL
The upcoming airdrop of the ZK token from Ethereum zk-rollup scaling resolution zkSync is likely to be valued considerably elevated than the project’s complete complete rate locked (TVL).
zkSync, which currently boasts a TVL of $852 million or 226,000 ETH (down from its height of 381,000 ETH in July 2023), is anticipated to airdrop a fragment of its 21 billion token offer this month.
Study more: What Are Zero-Data Proofs?
Industry requirements advocate a 10% airdrop, which right now pre-originate market costs of $0.63 per token on perpetuals platform Aevo, would translate to a staggering $1.32 billion market capitalization, which is nearly double zkSync’s present TVL.
Leading layer 2 ecosystem Arbitrum has $18.9 billion in TVL, in step with files from L2Beat, of which easiest 16% is ARB with a market cap of $3.2 billion. Mode, one other lately launched Ethereum L2 resolution, has a TVL of $706 million. The MODE token itself has a market cap of easiest $47 million, lower than 10% of the community’s TVL.
This stark distinction highlights the functionality disconnect between airdrop size and community rate in zkSync’s case, inquisitive about it would possibly well per chance possibly possibly give ZK 60% of the blockchain’s TVL as the airdrop would lift the networks’ complete TVL to $2.2 billion.
Moreover, the token ZK’s fully diluted valuation (FDV) would possibly well possibly be spherical $13 billion, corresponding to the lately launched Starknet’s STRK, and better than Arbitrum’s $11 billion FDV. Consistent with Token Terminal, Arbitrum has 8.7 million month-to-month energetic users, four times better than zkSync, and 24 times better than Starknet.
Final week, zkSync got into scorching water after attempting to trademark the timeframe “ZK.” After slightly rather a lot of backlash from the neighborhood, Matter Labs, the entity on the serve of the issue of zkSync, made up our minds to plunge the application.
Study more: Matter Labs Drops All ‘ZK’ Trademark Applications After Being Slammed for ‘Oppressive Behavior’
Source credit : unchainedcrypto.com
