PancakeSwap announces 2.45M ZK (zkSync) tokens distribution to community

PancakeSwap announced it will distribute ZK tokens to its community through a reward program. The firm confirmed this in an official blog post. Between July 5th and August 5th, the firm will reallocate about 2.45 million zkSync (ZK) tokens.

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The DEX platform revealed it will airdrop more than 2.45 million ZK tokens to its members as part of the plan. According to the company, the primary objective of the distribution is to show appreciation to its community members who supported the deployment of the zkSync PancakeSwap since July last year.

PancakeSwap reveals eligible airdrop beneficiaries

The DEX platform revealed that veCAKE holders and past contributors can participate in the airdrop. It clarified that eligible members should connect their wallets directly to the website and follow the pop-up alert guide to claim the tokens.

The exchange team said the airdrop aims to reward newcomers who transact on the exchange and long-standing contributors who have engaged with them since last year.

“We are excited to announce that PancakeSwap will airdrop 2,452,128 million ZK tokens directly to our community. This initiative recognizes and appreciates our community’s ongoing and continued support of the ZKsync PancakeSwap development.”

– PancakeSwap .

The announcement also revealed that the airdrops claim window started on July 5th at 10:30 UTC and will close on August 5th at 10:30 UTC. The firm further clarified that any unclaimed tokens during the one-month claim window will be reallocated to future community initiatives and developments.

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The DEX said that citizens and residents of certain jurisdictions may not participate in the ZK airdrop due to restrictions. The team advised citizens and residents from various jurisdictions to ensure compliance with local regulations before visiting the company’s website to try to claim the tokens.

The exchange stated that upon getting the ZK tokens, users agree to adhere to the terms and conditions highlighted on the company’s website. The PancakeSwap team urged all participants to take time to review the firm’s terms and conditions to avoid inconveniences.

PancakeSwap highlights its milestones

The exchange team said it has achieved significant progress since going live for the first time on zkSync Era (an Ethereum layer-2 network) in July 2023. Over time, the DEX went on to implement features such as Syrup Pools, Yield Farming, Fiat On-Ramp, Swaps, Position Manager, and Prediction Markets, the PancakeSwap team stated.

Further in the official post, the exchange said these efforts have assisted the company in surpassing 1.9 million active traders and a trading volume of over $3 billion.

The PancakeSwap team promised to boost the crypto industry and the community with its strategic innovations and community initiatives. “At PancakeSwap, we are committed to fostering a thriving community and rewarding our users for their dedication to our platform… we invite you to participate actively in this opportunity to benefit from the airdrop and continue shaping the future of DeFi with PancakeSwap.”

Cryptopolitan reporting by Collins J. Okoth