PancakeSwap, a multichain decentralized exchange (DEX), has announced a significant community reward initiative starting July 5 at 10:30 am UTC and ending Aug. 5 at 10:30 am.

The platform will airdrop 2,452,128 zkSync (ZK) tokens to its community in recognition of ongoing and continued support for the zkSync PancakeSwap deployment since July 2023.

The initiative comes after PancakeSwap surpassed $3 billion in trading volume, $5 million in total value locked (TVL) and over 1.9 million total traders. 

“The airdrop distribution is currently open to veCAKE Holders, Liquidity Providers, Active Traders, Traverse Campaign Participants, zkSync Prediction Users, and zkSync Gauge Voters who meet the eligibility requirements.”

Related: ZkSync says 695K wallets eligible for next week’s ZK token airdrop

ZK airdrop eligibility criteria

The zkSync airdrop is structured to reward both past and future contributors alongside vote-escrowed Cake (veCAKE) holders.

Active users who have contributed to the platform through trading, liquidity provision and participation in previous zkSync initiatives will be eligible for the airdrop.

The airdrop will also be distributed to future contributors who provide liquidity and trade with zkSync PancakeSwap to boost the platform’s growth.

Speaking with Cointelegraph about the 2.4 million ZK airdrop, the PancakeSwap team said:

“The zkSync airdrop is structured to reward both longstanding contributors who have supported our journey and newcomers who engage actively with PancakeSwap.”
PancakeSwap rewards users with 2.4M ZK token airdrop image 0 Eligibility chart indicating User Category and the calculations for the airdrop distribution. 

Related: ZkSync hit with claims of ‘almost no Sybil filtering’ in slated token airdrop

How to claim

The airdrop distribution is available to veCAKE holders and past contributor user categories at publication.

To claim the ZK tokens, eligible users must connect their wallet to the PancakeSwap platform homepage and follow the pop-up notification guide.

Any unclaimed tokens will be reallocated to the PancakeSwap ecosystem for future development and community initiatives.

Related: zkSync token launches amid network load, RPC issues

ZkSync developer under fire

Matter Labs, the developer behind zkSync, recently refuted allegations of “insider minting” related to its Libertas Omnibus non-fungible tokens (NFTs). 

The accusations, initially made by blockchain research firm SoEasy on June 17, suggested that Matter Labs distributed the NFTs to ineligible insiders.

In response, a Matter Labs representative clarified to Cointelegraph that “there were no invalid mints” and that the NFTs were legitimately acquired through interaction or by event attendees.

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