Surely, you also know zkSync is one of the four largest Layer 2 projects and is about to launch its token in the near future. Therefore, the opportunity to hunt for zkSync airdrops is always something that many of you are interested in. But specifically, what is the zkSync project? What is the potential of the project? How to hunt for zkSync airdrops? Let’s find out the details in the content of the article below.
Contents
- 1 Guide to hunt testnet, airdrop on zkSync 2024
Guide to hunt testnet, airdrop on zkSync 2024
What is zkSync?
With the rapid development of the ecosystem on Ethereum leading to network congestion, there is an urgent need to solve the issue of speed and transaction costs. Therefore, many Layer2 projects such as zkSync, Arbitrum, Optimism, Polygon… with different technologies have been developed to address these challenges.
zkSync is a Layer 2 scaling solution for Ethereum, similar to Arbitrum and Optimism. But the difference is that both Arbitrum and Optimism – currently the largest Layer 2 ecosystems in the market, are based on Optimistic Rollup, while zkSync is based on zk Rollup.
- zk Rollup — Zero Knowledge Proofs.
- Optimistic Rollup — Fraud Proofs
Let’s briefly talk about the difference between the two. Basically, these two solutions are opposite in logic. For example, zk does not trust all validators and uses zero-knowledge proofs to verify each result, while Optimistic Rollup – fraud proof chooses to trust everyone and waits for others to object. That is, Optimistic is a looser verification mechanism, helping to reduce the complexity of verification and calculation work. Meanwhile, zk seems more stringent but the difficulty and development cycle are longer.
What is special about zkSync?
zkSync is seen as outstanding in the battle between Layer 2 projects, as it owns two prominent technologies: zkRollup + EVM = zkEVM. What is special about this?
- zkRollup: aggregates transactions and performs off-chain verification. It then sends a final proof result to the main Ethereum chain ⇒ This will help save costs and reduce network capacity ⇒ resulting in faster speeds.
- EVM: Ethereum Virtual Machine compatible technology with the aim of ensuring that the experience and application features on Layer 2 will not be too different from Layer1. Thanks to EVM, developers will not need to change their code or abandon EVM tools (and smart contracts) when building or transferring smart contracts to more scalable solutions to preserve the decentralization and security of Layer1 ⇒ benefiting both end-users and the project development team.
ZkRollups was created by the organizations Matter Labs – an organization founded to improve Ethereum’s scalability. Matter Labs began building the project and released the first version of zkSync, named zkSync 1.0, in 2020.
- zkSync 1.0: This Ethereum scaling technology can perform up to 3000 transactions per second (TPS). However, the demand for higher throughput as the network expanded led to a new version: zkSync 2.0.
- zkSync 2.0: Just launched on the mainnet on October 28, zkSync will be the first zk-Rollup to implement Ethereum-compatible (EVM) smart contracts. Furthermore, with the development of zkPorter, a sharding solution, zkSync 2.0 can increase its throughput from 3,000 TPS (in version 1.1) to 20,000 TPS.
zkSync is predicted to surpass Optimistic Rollup and become the future of Ethereum. Generally, zkSync will significantly enhance processing speed while maintaining the same level of security as Ethereum. Specifically:
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zkSync’s transaction processing speed will be approximately 50 times faster than Ethereum, with a TPS of 300.
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Extremely low transaction fees, currently around $0.02 per transaction compared to tens of dollars on Ethereum.
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Strong security, users can completely forget their account for several months and still safely withdraw assets, even when the validator is no longer active.
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Shorter asset deposit and withdrawal time compared to the Optimistic Rollup technology of Arbitrum and Optimism.
Who is the team and backers behind zkSync?
zkSync is a project announced by Matter Labs in 2020, though its research and development began in 2018. The two core founders of Matter Labs include Alexander Vlasov and Alex Gluchowski. Both are experienced developers in blockchain, especially Gluchowski, who has nearly 20 years of experience and served as CTO for several major projects before dedicating his efforts to zkSync.
zkSync successfully raised an additional $200M in its C round, bringing the total raised to date to $458M. The funding rounds for zkSync were led by top market funds like a16z, Dragonfly Capital, Coinbase Venture, Parafi, …
➡ Compared to the large investments currently being made in Layer 1 projects like Aptos and Sui, with figures of $350M and $300M, zkSync is considerably larger. Although zkSync is just a Layer 2, it has not garnered as much attention. With the market currently in a challenging phase, the fundraising success of zkSync is quite impressive ➡ This shows the high expectations funds have for this project.
Most importantly, zkSync is also backed by a significant number of CEXs like Binance, Huobi, Okex, Crypto.com, … Therefore, the likelihood of the project’s token being widely listed upon launch is very high.
How is the zkSync ecosystem developing?
As of now, zkSync has around 150 projects in development. Most are still in the Beta or pre-mainnet stage. The main areas include:
?DEX – Major projects like Mute.io, Zigzag Finance, Trustless are already live compared to beta projects, or famous Multichain projects like Uniswap, 1Inch, …
?Wallet – There are not too many wallets connected to zkSync, with Argent running simultaneously on Starknet being the only notable one. There are also other wallets like Onto, Bitkeep, Numio, Im Token, …
?Lending – Only 2 Dapps are currently operational, Yearn Finance and Taker Protocol. Among them, Yearn is neither a native project nor strong in lending, so the financial burden of the ecosystem will rely on Taker.
Here’s the translation from Vietnamese to English:
Looking at other areas like Perpetual, Infrastructure, Gaming, it’s also noticeable that each area only has a few projects and is not really strong. The majority of the large number are focused on bridge projects that have supported zkSync.
➡ In summary, this zkSync ecosystem is still young. This development needs to be driven by incentive packages and needs more projects in core areas such as DEX, Lending, Perpetual to be able to attract capital flow. However, this is also an early opportunity for those who want to search for “seed” opportunities.
Why hunt for airdrops on zkSync?
At the end of October, the Matter Labs team, the developer of zkSync, revealed that they will release the tokenomics of the project in November. On 28/10, zkSync also deployed the mainnet trial version. The official release of zkSync tokens is likely not far off as the project has confirmed the token issuance. Most recently, on 16/11, project developers continued to reveal information about the token in the future. zkSync declared it would use two-thirds of the token reserve for the ecosystem if there is a later issuance. The developers are committed to distributing tokens based on principles of fairness and transparency.
The company has also clearly stated on its tokenomics page that zkSync tokens will be deployed in the future for staking and becoming validators in the zkSync network. Users of the zkSync network may be rewarded with an airdrop, similar to the Optimism airdrop.
zkSync is a layer 2 project similar to Optimism. Previously, Optimism had airdropped thousands of tokens to users supporting the platform. Therefore, it is entirely possible for zkSync to follow in Optimism’s footsteps.
Therefore, experiencing the products of the zkSync platform is absolutely necessary so you don’t miss any chance to receive an airdrop. If you experience it, you may or may not receive an airdrop, but if you skip it, you will definitely not have any opportunities.
What to prepare for airdrop hunting on zkSync?
You have learned what zkSync is. To have more opportunities to hunt airdrops on zkSync, you need a MetaMask wallet and send money from MetaMask and zkSync wallet.
Setting up MetaMask Wallet
First, you need to download the MetaMask wallet.
Then, add the zkSync 2.0 testnet network to your MetaMask wallet in the Setting → Add Network section and fill in the following information:
- Network Name: zkSync alpha testnet
- New RPC URL: https://zksync2-testnet.zksync.dev
- Chain ID: 280
- Currency Symbol: ETH
- Block Explorer URL(Optional): https://zksync2-testnet.zkscan.io/
Depositing Money into zkSync Wallet
To do testnet and airdrop on zkSync, you need to deposit about 20 USD into the zkSync wallet. Here’s how to do it:
Step 1: Access the zkSync Wallet page here. Then, choose Ethereum Wallet → MetaMask to connect.
Step 2: Click Top up and choose a method to transfer assets to the zkSync network. Personally, the author encourages everyone to transfer ETH via Bybit as it is easy and the fees are not too high.
Ways to Hunt for Airdrops on zkSync
After having assets on zkSync, there are various ways you can hunt for airdrops on zkSync. Although there is no 100% guarantee that you will receive an airdrop, doing these methods will greatly increase your chances of receiving an airdrop.
Swap on ZigZag Exchange
Once you have assets on zkSync, you will be redirected to the homepage of the wallet. At this point, there are many options to interact, but we will start with a simple transaction, which is swap.
Step 1: Choose Swap. You will be navigated to ZigZag Exchange, where the system will automatically connect your wallet to the exchange.
Step 2: Choose a suitable trading pair, this article will use the ETH and USDC pair as an example. Then, enter the amount you want to trade similar to CEX exchanges.
Step 3: Press Sell to sell ETH. Repeat a similar process for the Buy order of this pair.
You should trade as much as possible, it is recommended to do over 50 transactions.
Note: Trade with moderate volume in each transaction to avoid running out of ETH.
Bridge on ZigZag Exchange
Transferring assets to the Ethereum network can also be done on ZigZag Exchange through the following steps:
Step 1: Choose multi-function icon → Bridge.
Step 2: Choose the network and type of asset. After the system has updated the balance, enter the amount of assets you want to send.
It is recommended to choose Normal for Withdraw speed to minimize the fees to be paid.
Step 3: Choose Transfer. For transactions with normal speed, it will take about 7 hours for the assets to be sent back to the wallet on Ethereum.
Participate in Gitcoin Donations
Gitcoin is a platform that facilitates fundraising for startup projects. Users can donate to projects they like. In return, the project may airdrop back to users when successful. Previously, Optimism had airdropped to users who donated on Gitcoin. Therefore, donating to Gitcoin through the zkSync network is also one of the ways to increase the chance of receiving an airdrop on zkSync. The steps are as follows:
Step 1: Access the homepage of Gitcoin here and create an account if you don’t have one.
Connect the wallet and choose Products → Grants → Explore Grants.
Step 3: Select the cart icon to be redirected to the Cart section. Enter the amount of assets you want to contribute to each project and choose Im Ready to Checkout.
Step 4: Select Proceed and then connect with Ethereum Wallet → MetaMask with the zkSync network. After completion, you can review the contribution list and costs on the left side of the screen and select Complete payment.
Note: You should complete the Gitcoin Passport to increase the credibility of your account.
Experience the NFT Pinata Project on zkSync
Step 1: Access the following link: https://www.pinata.cloud/
Step 2: Choose Signup to create an account and confirm your email.
Step 3: Upload a picture and copy the CID.
Step 4: Access the link: https://wallet.zksync.io/account/Then, in the NFT section => Choose mint NFT => Paste the CID and mint NFT.
+ Choose Mint NFT:
Experience DeFi Projects on zkSync
First, you need to access the following link to get testnet tokens: https://portal.zksync.io/faucet
SynSwap
- Access the following link: https://syncswap.xyz/
- Connect your wallet.
- Swap at the trade section and add liquidity (add liquid) at the pool section.
Mute.io
- Access the following link: https://app.mute.io/
- Connect the wallet, then swap and add liquidity as done with SynSwap.
Phezzan Protocol
This is the first DEX on zkSync 2.0 testnet. The project has confirmed it will issue tokens and have retroactive rewards after launching the token.
- Access the following link: https://testnet.phezzan.xyz/
- Connect the wallet and load testnet tokens.
- Trade long/short on the exchange.
- Add liquidity on the platform.
SpaceFi
- Access the following link: https://www.spacefi.io/
- Connect the wallet.
- Swap to STAR tokens in the Swap section.
- Add liquidity, then stake STAR in the Farm section to receive airdrops.
Mint Square NFT
- Access the following link: https://mintsquare.io/starknet
- Connect the wallet.
- Mint NFT (upload an image and add some detailed information).
MES Protocol
- Access the following link: https://app.mesprotocol.com/
- Connect your wallet.
- Experience long/short trading on the platform.
- Use the platform’s Bridge.
Primex Finance
This protocol has confirmed that it will reward users who use the testnet.
- Access the following link: https://app.primex.finance/
- Connect your wallet.
- Sequentially trade, add liquidity, and lend on the platform.
Step 1: Access the zkSync CREW3: https://zksync-official.crew3.xyz/
Step 2: Sequentially complete the following tasks:
- Follow the project’s Twitter: TWITTER ZKSYNC
- Join the project’s Discord: DISCORD ZKSYNC
Completing the above steps means you have finished the tasks to search for opportunities to receive zkSync tokens (if any).
Related post: Guide to Airdrop hunt: How to select projects & winning tips
Thus, I have introduced to you what zkSync is and how to search for airdrop opportunities on zkSync. Optimism has already airdropped to users, so expecting something similar with zkSync is understandable. If you have any questions during the process, please leave a comment below so we can answer them. I wish you luck and success.
