Ramazan Eles 
ZkSync, an Ethereum Layer 2 network developed by Matter Labs, is set to host its token generation event (TGE) this week. Two sources familiar with the matter confirmed this to The Block. The token launch, which includes an airdrop, is expected to follow within the next 30 days after the TGE. The total supply of the token will be 21 billion.
Airdrop Date and Details
ZkSync is targeting around June 13 for the airdrop. According to an internal message screenshot seen by The Block, the airdrop will occur before Blast’s token airdrop on June 26.
ZkSync aims to use the ticker “ZK” for its token. However, there is a potential conflict as Polyhedra Network has already claimed this ticker. Despite this, ZkSync may proceed with using the “ZK” ticker, noting that Binance has not listed Polyhedra’s token yet.
A spokesperson from Matter Labs stated that ZkSync is in the process of becoming decentralized, although no definitive plans have been finalized. Last week, ZkSync hinted at a token launch and airdrop by the end of June, aiming to roll out an upgrade to accelerate the protocol’s decentralization.
Protocol Upgrade
“The upcoming release of v24 is the final planned protocol upgrade needed before handing over network governance to the community,” ZkSync announced last week. “The remaining missing pieces are expected to be in place by the end of June.”
Matter Labs, the developer behind ZkSync, is backed by notable investors such as Andreessen Horowitz (a16z), Dragonfly Capital, Blockchain Capital, Crypto.com Capital, Placeholder Capital, and 1kx. The project has raised $258 million in total venture funding and secured a $200 million ecosystem fund.
ZK-Rollups and Future Outlook
ZkSync is a prominent Ethereum Layer 2 network utilizing ZK-rollups to enhance Ethereum’s scalability, making transactions faster and cheaper. Ethereum co-founder Vitalik Buterin has expressed strong support for ZK-rollups, predicting that they will dominate all use cases in the medium to long term due to their specific advantages. Buterin reiterated his view earlier this week, stating that “in 10 years, all rollups will be ZK and will commit blocks with finalized state roots to L1 every slot.”
For the latest updates on ZkSync’s token generation event and airdrop, stay tuned.