Airdrop farming has been significantly reduced since zksync and layerzero tokens were launched. Mostly People have stopped farming new or existing projects due to unfair token distribution. The number went down big time which can be imagined by the Ethereum transaction fees which is now reduced to 3 gwei.
Zksync which is an L2 chain was claiming to be the most community oriented before the token launch, but when the time came to prove it they dumped majority of the users by distributing unfair airdrop allocation.
Upon investigation by some experts it has come to know that zksync has distributed majority of the tokens to insiders. Moreover they have applied a criteria for eligibility which was totally unbelievable especially to not allocate users who have less than 500 tokens.
There have been a lot of discussions about zksync airdrop . Even hashtag zkscam was trending on X for a whole week. They have allocated very large allocations which they should have lowered to make more people eligible to recieve airdrops.
There are many well reputed people who criticized zksync team for such a failed airdrop. This is marked as biggest scam in the history of crypto when it comes to rewarding onchain users for their efforts in cryptocurrency .
Minimum allocation of zk was 500 while maximum was 100k tokens . The gap between the minimum and maximum allocation was too big. Only around 700k wallets were eligible from which mostly were insiders and sybils. If zksync team just had reduced the maximum allocation they could have made more users eligible to recieve airdrop even small amounts. This would have made the community more happy and the airdrop would have been looked as more fair than current.
The worst thing zksync team did was to not apply filter to detect sybil wallets. This also questions the authenticity of the teams character. $ZK token is still dumping as a result of unfair distribution. In short the airdrop was more team oriented than the community.
On the other hand , Layerzero team also did some stupid things. They have allocated $ZRO tokens in a much better way than the zksync but only stupid thing they did was to set claim fees for per token. Users were asked to pay 0.1$ per token if they want to claim. It was like a presale.
Zksync and layerzero was the most farming projects which were having a large community but they came out to be scam in the end. This has put a big effect on the daily number of transactions , volume and total value locked on both the chains. Zksync is now a ghost chain as users majority have move funds to other chains such as arbitrum and bnb chains.
It was considered that zksync and polygon will burried arbitrum but that didnt happened. So arbitrum is still the number one layer2 chain. It is actually now more powerful than before.
Another thing which is also true that its impossible to make everyone happy but the improvements can be done to make a fair distribution.
Thats it for today. Thanks for reading. What do you think about my today's topic? Let me know your thoughts in comment section. In the end i would like to Wish you and your family a happy day ahead. Stay Blessed.
Motivation Dose
Get out of your comfort zone and fight the troubles and hurdles that come your way to success. Success awaits you. Life is beautiful ، live it to the fullest. Dont be hopeless. Stand strong in the ups and downs of life as its part of life. There is always a light behind every dark side.
About Author
@coolguy222 is a crypto trader and content creator on hive blockchain. He also runs a small business of Mobile accessories and Wrist watches. He loves to make new friends.