Matter Labs, which is developing an EVM-compatible second-level solution zkSync, plans to conduct TGE. This is reported by The Blockciting knowledgeable sources.
According to the publication, the token launch and airdrop will take place within 30 days after the TGE. The total supply of the new asset will be 21 billion tokens.
The distribution of assets is scheduled for June 13. The company emphasized that the airdrop will occur before a similar event from Blast, scheduled for June 26.
According to one source, zkSync wants to use the ZK ticker for its token. But since Polyhedra Network had already claimed the rights to it, this created some problems.
Last week project hinted to launch and distribute tokens at the end of June, saying it would soon release an update to speed up decentralization.
zkSync is a second-level L2 solution based on ZK rollups, built on top of the Ethereum blockchain.
The implementation is based on zkEVM technology, designed to scale smart contracts by combining zero-knowledge proof (ZKP) and the capabilities of the Ethereum Virtual Machine (EVM).
This symbiosis enables fast, cheap and confidential transactions using L1 security. zkSync technical specifications allow reaching 2000 TPS.
According to CryptoRank, the project has raised a total of $258 million in venture funding. Investors include Andreessen Horowitz, DragonFly Capital and Placeholder Ventures.
Earlier, Vitalik Buterin called ZK rollups the most important technology for scaling Ethereum.
Source: Cryptocurrency
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