Ethereum-based decentralized exchange ZKSwap announced that it will distribute 1 million ZKS tokens. The airdrop, which started on February 19, will continue until March 4.
What are the details of ZKSwap’s airdrop program, whose number of users has increased 60 times within 48 hours and the total value of the assets locked to the stock market exceeds 100 million dollars? Let’s examine it.
Airdrop details: 0 gas fee
Snapshot operations will be made randomly in the ZKSwap airdrop event, which will last for two weeks. Among the criteria required to earn ZKS tokens in a 14-day period; The presence of 500 USDT in the account, at least 1 transfer and swap transaction with the ZKSwap Layer 2 account. Any of the ERC-20 tokens supported by the ZKSwap exchange must be deposited into a Layer 2 account within a two-week period.
Users will not pay gas fees for transactions with Layer 2 accounts. By doing this, ZKSwap wants users to experience trading without gas fees.
How will the prizes be distributed?
The awards will be determined according to the value of the assets in the accounts and the user accounts will be categorized as 1-50, 51-100 and over 100. The rewards will be ranked according to the accounts with the most assets.
1-50: In order for the accounts to be in the top 50, they must meet the specified conditions and transfer assets to their account. 100 thousand ZKS will be equally distributed among the top 50 accounts. The total amount of ZKS allocated to accounts in this category is 500 thousand. The remaining 400 thousand ZKS will be allocated according to the value of the assets in the accounts.
51-100: Accounts in this category will receive a total of 250 thousand ZKS awards. 200 thousand ZKS will be distributed according to the value of the assets in the accounts. The remaining 50 thousand ZKS will be given to all accounts equally.
100 and above: Accounts that fulfill all conditions and position over 100 will share the 250,000 ZKS award.
ZKSwap, built on the Ethereum network, is a swap protocol that uses an automated market maker (AMM) algorithm. Using ZK-Rollup technology, ZKSwap; It aims to offer a scalable, privacy-focused and efficient swap experience. ZK-Rollup means transferring some of the transactions in Ethereum to the Layer 2 layer. The Layer 2 layer where the exchange is located is a protocol located outside the Ethereum network, which reduces the burden of transactions on the network. Transactions in Ethereum are transferred to the Layer 2 layer, and it is aimed to solve problems such as gas fee, scalability, and slow processing.
The number of Layer 2 accounts on the ZKSwap exchange, which was launched on the Ethereum network on February 14, increased to 10 thousand and increased 60 times within 48 hours. On February 16, the total value of assets on the exchange was $ 93 million, and the 24-hour trading volume increased to $ 3 million.
The most traded pair on the stock exchange was ZKS / USDT with a daily trading volume of $ 2 million. The pair that provided the most liquidity was WBTC / ETH with a volume of $ 25 million. Total assets locked on the stock exchange exceeded $ 100 million.