Understanding the ZKFair Tokenomic Model in One Read

Hong Kong, 11th December 2023, ZEX PR WIRE, On December 7, 2023, ZKFair, the community-driven ZK L2 network, officially announced the launch of its testnet, opening its doors to all community users. The project is still in its early stages, allowing users to perform various operations such as cross-chain transactions during the testnet phase.

Throughout the testnet period, the project plans to progressively introduce ecosystem projects such as Swap, lending, NFT market, gaming, and collaborate with notable projects like Orbiter, Space ID, OKX Wallet, Bitget Wallet, TP Wallet, iZUmi, Meson, unveiling corresponding features. The anticipated mainnet launch is projected around December 20.

ZKFair is a community movement focused on addressing pain points within the current ZK L2 ecosystem, including high valuations and barriers to entry for ordinary users. It marks the first L2 network based on Polygon CDK, Celestia DA & Lumoz ZK-RaaS, ensuring a 100% fair launch.

On the day of ZKFair testnet launch, over 30,000 users engaged with the community, actively participating in testnet interactions. The innovative economic model has been a focal point of community interest, and this article aims to introduce the innovative 100% community Fair Launch mode initiated by ZKFair.

ZKFair utilizes USDC as the gas fee token, and its reward token, ZKF, has a total supply of 10 billion, allocated as follows:

  • 75% for the gas fee airdrop: Users generating transaction fees on the ZKFair mainnet will receive airdrop rewards in ZKF tokens once the gas fee airdrop program is launched (expected 3-5 days after the mainnet launch). The limit is $3 million, first come, first served.
  • 25% for the community airdrop:
    • 8% for Lumoz points holders (viewable on the Lumoz website).
    • 8% for the Polygon community (specific airdrop method to be determined).
    • 2% for ZKSync, Scroll, ZKSpace, Linea communities (addresses with interactions in the last 2 months).
    • 2% for early code contributors.
    • 5% for Ordinals community token holders (this airdrop will not be immediately unlocked, waiting until ZKFair supports the BTC ecosystem).

 *To appreciate the spirit of the Ordinals community, consistently prioritizing community users, aligning well with our vision. Hence, ZKFair is the first project to airdrop a 5% token allocation to the Ordinals community.

To ensure absolute fairness in the launch, specific details of the ZKFair gas fee airdrop program will be announced before its launch. The entire process aims for no VC involvement, no pre-mining, and no advance reservations.

After the conclusion of the ZKFair gas fee airdrop program, ZKFair will open ZKF token airdrop claims to all eligible users. Users can claim airdrop rewards through a designated page on the official website within a 10-day window. Tokens unclaimed after this period will be considered forfeited and subsequently destroyed. The ZKFair team commits to no future token issuance.

The emergence of ZKFair addresses challenges in fairness and user participation within the ZK ecosystem. It aspires to guide industry development, advocating for the scalable growth of community-driven ZK L2 networks. Community support is crucial for this journey, and we encourage all users to join ZKFair, contribute to discussions, share ideas, and be part of shaping a ZK ecosystem that reflects user intentions and talent. Let’s redefine the future of ZK together!

For more details, please follow our official Twitter account.

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Vedh Consulting journalist was involved in the writing and production of this article.

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