ZkSync Responds to Airdrop Eligibility Criticisms; Binance Offers Alternative ZK Airdrop
Summary:
Ethereum layer-2 scaling solution zkSync defends the eligibility criteria for its upcoming zkSync (ZK) token airdrop on June 17 against critics. To combat Sybil attacks, the platform used explicit Sybil detection and a unique airdrop design, which, although effective, allowed some Sybil wallets through. Acknowledging the inevitability of Sybils, the platform chose to reward organic users most likely to be genuine, according to wallet behavior and funding. Meanwhile, Binance offers its own ZK airdrop to those ineligible for the official one, allocating 10.5 million ZK tokens to over 52,000 users.
The Ethereum zkSync platform, a layer-2 scaling solution utilizing zero-knowledge proofs, has recently been subjected to skepticism concerning the distribution criteria of its upcoming zkSync (ZK) token airdrop set for June 17. In response to common inquiries, ZK Nation, on June 15, updated an FAQ document to justify the eligibility conditions for the token airdrop. Part of the document was dedicated to how the platform combats Sybil attacks — instances where a single entity generates numerous wallets to exploit an airdrop. Sybil attacks had been a recurring complaint amongst airdrop aspirants last week.
In its explanation, zkSync underscored the usage of "explicit" Sybil detection coupled with a specially designed airdrop strategy to reward the maximum number of genuine users. However, they conceded that this approach inadvertently allowed certain Sybil wallets to slip through. According to ZK Nation, some Sybils resort to sophisticated algorithm-driven protocols that are virtually indistinguishable from human behavior.
ZkSync admitted that excessively stringent filtering methods can lower the number of Sybils but simultaneously run the risk of erroneously flagging legitimate users. Thus, they opted to incentivize users deemed 'most likely' genuine via value scaling and multiplier factors. If a wallet possessed low funding, indicative of Sybil activity, it was allotted minimum eligibility points. However, if the onchain activities of such wallets suggested human behavior, their eligibility points were considerably magnified.
ZkSync pointed out the behavioral difference between Sybils and humans — while Sybils create multiple accounts with minimal crypto funding, real users generally amass most of their wealth in a handful of accounts. The platform also acknowledged the inevitable presence of Sybils in all airdrops but maintained that for every observable Sybil, hundreds were ejected.
Meanwhile, leading cryptocurrency exchange Binance announced a separate ZK airdrop, specifically for those neglected by zkSync's official airdrop. Reacting to the community's concerns about ZK token distribution, Binance plans to allocate 10.5 million ZK tokens to over 52,000 users.
To qualify, a user must have conducted at least 50 transactions on zkSync Era between February 2023 and March 2024 and transacted for a minimum of seven months within that period. Exclusions include CEXs, bridge and contract addresses, and those eligible for zkSync's official airdrop. Every eligible Binance user will receive 200 ZK tokens.
As of June 17, the ZK token will be listed on Binance, with trading pairs including Bitcoin (BTC), Tether (USDT), and First Digital USD (FDUSD).
The ZK token airdrop commences on June 17 and is currently valued at 36 cents in pre-market trading, as per Whales Pro.
Published At
6/17/2024 9:16:55 AM
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