Understanding the ZKFair economic model in one article.
Source: ZKFair
ZK L2 community network ZKFair officially announced the launch of its testnet on December 7, 2023online, and opened it to all community users. The project is still in its very early stages. Users can perform cross-chain and transfer operations. During the testnet period, the project team will also launch ecological projects such as Swap, lending, NFT market, gaming, and cooperate with well-known projects such as Orbiter, Space ID, OKX Wallet, Bitget Wallet, TP Wallet, iZUMi, Meson, and launch related functions. Its mainnet is expected to go live around December 20th.
ZKFair is a community movement about ZK L2, which is a rebellion against various pain points in the current ZK L2 ecosystem, such as high PUA, high valuation, and high participation threshold for ordinary users. It is also the first L2 network based on Polygon CDK, Celestia DA & Lumoz ZK-RaaS, with a 100% fair launch.
On the day when ZKFair testnet went live, more than 30,000 users flooded into the community and interacted with the testnet. Its innovative economic model has always been the focus of community users' attention. This article will also focus on introducing the innovative 100% community Fair Launch model initiated by ZKFair.
ZKFair uses USDC as its transaction fee token, and its own token is ZKF with a total supply of 10 billion. The distribution is as follows:
· 75% Gas fee Airdrop
After the ZKFair gas fee airdrop program is launched (expected to be within 3-5 days after the mainnet goes live), any user who generates transaction fees while interacting with the ZKFair mainnet will receive airdropped ZKF tokens. The maximum reward is $3 million USD and will be distributed on a first-come, first-served basis. (Please note that ZKFair is currently only available on the testnet and all testnet functions are for testing purposes only.)
25% Community Airdrop
· 8% Lumoz token holders (can check their total points by logging into the Lumoz official website leaderboard)
· 8% Polygon community (specific airdrop method to be determined)
· 2% ZKSync, Scroll, ZKSpace, Linea community (addresses with interactions in the past 2 months)· 2% Early Code Contributors
· 5% Ordinals community token holders (this portion of the airdrop will not be unlocked immediately and will be available for claiming after ZKFair supports the BTC ecosystem)
Note: The Ordinals community always puts the community first, which is highly consistent with our vision. Therefore, ZKFair will airdrop 5% of tokens to Ordinals community users, making it the first community project to airdrop tokens to the Ordinals community.
In order to achieve absolute fairness and justice in the launch, ZKFair gas fee airdrop program will release more specific details before the launch. The entire process will be conducted without VC participation, no pre-mining, and no advance reservation.
After the ZKFair gas fee airdrop program ends, ZKFair will fully open the ZKF token airdrop claim, and all eligible users can claim the airdrop reward through the designated page on the official website. The time to claim the airdrop is 10 days, and users who have not claimed the airdrop after 10 days will be considered as automatically giving up, and these tokens will be directly destroyed. The ZKFair team will not conduct any token issuance in the future.
The current challenges faced by the ZK ecosystem, such as unfairness and high barriers to user participation, cannot be solved by individual efforts alone. The future prosperity and development of the ecosystem is a long and arduous journey. The emergence of ZKFair may lead the industry into a new chapter. Since its inception, ZKFair has advocated for the community-driven scale development of the ZK L2 network, and firmly believes that the realization of this mission cannot be achieved without the participation of every ordinary user. Therefore, it is necessary for community users to work together, forge ahead, surpass existing boundaries, and redefine the future of ZK!
For more details, please follow the official website Twitter: https://twitter.com/ZKFCommunity.
This article is from a submission and does not represent the views of BlockBeats.
Welcome to join the official BlockBeats community:
Telegram Subscription Group: https://t.me/theblockbeats
Telegram Discussion Group: https://t.me/BlockBeats_App
Official Twitter Account: https://twitter.com/BlockBeatsAsia
