Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Topic started by: XFinite on June 17, 2024, 07:13:16 PM
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I was wondering if you all are aware of this, which I already know some of you are... ;D
Zksync is the most mentioned topic on X... As we know, it's mostly about the airdrop, but some people have even gone so far as to start the hashtag #zksyncscam. :o
I haven't been able to find the reason behind the scam accusations because many posts are filled with spam links (typical for X these days). But I did see a post about people flooding the ZK Discord with threats for not getting an airdrop. So afaik, the ZK team is doing sybil detection to remove users with multiple accounts trying to cheat the system. I can only imagine how stressful this is for them. They have allocations for the team, investors, ecosystem projects, and there is the airdrop.
Despite all this, I really like ZkSync, mainly because of the blockchain and its ecosystem. The token is just a plus. What are your thoughts on the project for the future? Do you think the team is handling this situation well?
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I was wondering if you all are aware of this, which I already know some of you are... ;D
Zksync is the most mentioned topic on X... As we know, it's mostly about the airdrop, but some people have even gone so far as to start the hashtag #zksyncscam. :o
I haven't been able to find the reason behind the scam accusations because many posts are filled with spam links (typical for X these days). But I did see a post about people flooding the ZK Discord with threats for not getting an airdrop. So afaik, the ZK team is doing sybil detection to remove users with multiple accounts trying to cheat the system. I can only imagine how stressful this is for them. They have allocations for the team, investors, ecosystem projects, and there is the airdrop.
Despite all this, I really like ZkSync, mainly because of the blockchain and its ecosystem. The token is just a plus. What are your thoughts on the project for the future? Do you think the team is handling this situation well?
First of all, I quite like ZkSync because it is also a potential Ethereum Layer-2 and may be one of the first projects to successfully apply zK to improve the quality of Layer-2, making transactions more secure than Optimism. ZkSync is fully capable of becoming a successful project to compete with Optimism and Arbitrum in Layer-2 trend.
However, I do not understand how the Zksync team implemented the airdrop. Matter Labs seems to be unprofessional and lacks understanding of the market, airdrop hunters, and the problems associated with airdrops. Previous expectations have turned into anger, and many hunters who once supported ZkSync are attacking ZkSync. I hope ZkSync will learn something from this scandal to act better in the future when managing and developing the project.
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There is no way to do proper airdrop these ways with immense number of airdrop farmers farming projects left and right, and ZKsync has been one project on top list for farming since ages.
Whatever ZKsync might have done here, there were going to be dissatisfied people, and I don't blame zksync even a bit for how they eventually decided to steer their ship.
I didn't farm much and I'm eligible for $ZK, so I have got no reason to jump on this ongoing bandwagon right now anyhow.
Though, I can understand the frustration of those who put good amount of efforts and were excluded, ought to be disappointing.
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There is no way to do proper airdrop these ways with immense number of airdrop farmers farming projects left and right, and ZKsync has been one project on top list for farming since ages.
Whatever ZKsync might have done here, there were going to be dissatisfied people, and I don't blame zksync even a bit for how they eventually decided to steer their ship.
I didn't farm much and I'm eligible for $ZK, so I have got no reason to jump on this ongoing bandwagon right now anyhow.
Though, I can understand the frustration of those who put good amount of efforts and were excluded, ought to be disappointing.
I guess you can't satisfy everyone.. but despite the airdrop fud, onchain statistics from dune https://dune.com/obchakevich/zk-zksync suggests increase in amount of holders etc. Even volumes on exchanges like Bitget etc for ZK is soaring. The Thing is a project with good fundamentals and well thought team would always thrive no matter the circumstances. So let's see how the coming weeks unfold.
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I've also been involved with Zksync for 2 years and have spent hundreds of dollars transacting on the platform.
But yes, like the disappointment of many people, I only got 1000 ZK because there weren't enough LPs I held and the NFTs I held weren't from the official Zksync.
More than that, many are disappointed because they are not eligible as airdrop recipients,
even though they have followed it from the beginning with a volume of thousands or even hundreds of dollars.
Volume is not valued, and they have a different calculation system than previous airdrops such as Arbitrum and Optimism.
A lot of disappointment was vented in Z so that the pros and cons of $ZK coin were getting bigger, but tier 1 exchanges such as Binance, HTX, Kucoin, Bybit have listed $ZK coins even though the price is still drastically up.
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I will not speak about ZKSync alone, but the whole airdrop in general is. I've seen airdrops happening all the time around the crypto space, and I've observed 3 things that always happens.
1. These kinds of dramas will eventually be forgotten by many investors in the future.
2. Even though the team is very generous on giving away free tokens to investors, there will always be some that will feel frustrated for various reasons.
3. Things like this are pretty common.
Just look at Starknet, and how they picked those eligible users. Some even spent thousands of transaction fees, but didn't qualify because in order to get qualified, you need to have at least X amount of ETH on your wallet. Many caught off-guard because of it. They eventually airdropped the tokens, lots of frustration around, but is there anybody who's talking about what happened in the past? None, or maybe there are a few of them, but my point is, it will be the same with zKSync and other airdrops in the future. :)
I'm not qualified with this airdrop because I didn't participate, but congratulations to those who got free tokens just by making transaction over the course of 1-2 years. :D
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Just look at Starknet, and how they picked those eligible users. Some even spent thousands of transaction fees, but didn't qualify because in order to get qualified, you need to have at least X amount of ETH on your wallet. Many caught off-guard because of it.
People wouldn't have minded this requirement had it made sense. This 0.005 eth criteria excluded even those wallets who had hundreds-thousands dollars on dapps there, they should have made it like have this much amount of funds on starknet chain and not what they did.
Starknet eventually airdropped the tokens, lots of frustration around, but is there anybody who's talking about what happened in the past? None, or maybe there are a few of them, but my point is, it will be the same with zKSync and other airdrops in the future.
It's nature of things to happen and be forgotten in vastness of time, and zksync fiasco is no exception.
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Zksync airdrop made many participants disappointed and huge impact after listing on the top market current price not increasing yet because many fud made by the top whales after failure qualified the criteria for receiving Zksync airdrop.
I don't join with this airdrop looking for how popular and thousand hundred people joining will make small reward allocated for airdrop participants.
Its too sad for participants after wasting their time and spent much fees for making transaction but not eligible criteria of Zksync airdrop and I don't know why most of user can't get eligible.
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Zksync airdrop made many participants disappointed and huge impact after listing on the top market current price not increasing yet because many fud made by the top whales after failure qualified the criteria for receiving Zksync airdrop.
I don't join with this airdrop looking for how popular and thousand hundred people joining will make small reward allocated for airdrop participants.
Its too sad for participants after wasting their time and spent much fees for making transaction but not eligible criteria of Zksync airdrop and I don't know why most of user can't get eligible.
What makes many disappointed is that there are 100K wallets that have never made a transaction on zksync but they get a $ZK allocation this is what makes the community angry where they have followed from the beginning did not meet the eligibility.
Now the airdrop distribution system is indeed difficult to guess where it does not look in terms of transactions and volume that you have multiplied, but they try to fight sybil in their own way but with this all communities are not happy.
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TBH OP, i don't know fully about this matter but yup I've seen some of the cases as I'm also active airdrop hunter for a couple of months so I know a few of it, In our local community as well as all those communities groups where currently we have active airdrop discussion people were reporting about their eligibility, What actually zk did is an unfair airdrop selection, in my views as far all the cases I've seen this was the worst whitelisting of airdrop hunters some people got crazy allocation no small activity and some got rejected on a huge activity on ZK.
But keep in mind haha happy community = success of project and if the community is not happy even strong projects need to bow down. I know ZK is a good project but let's wait and see how they handle this.
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it presents buying opportunity for ZK.. you know I don't wait, so I bought some again, and eventually staked it on Bitget poolx
I also feel $ZK is quality coin and current price is bargain. BTW, how much interest you get for staking on bitget? And does it require KYC?
What makes many disappointed is that there are 100K wallets that have never made a transaction on zksync but they get a $ZK allocation this is what makes the community angry where they have followed from the beginning did not meet the eligibility.
Zksync faq doc mentions about it, jump to 7th point: https://docs.zknation.io/zk-token/faqs/zk-token-faqs
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Zksync airdrop made many participants disappointed and huge impact after listing on the top market current price not increasing yet because many fud made by the top whales after failure qualified the criteria for receiving Zksync airdrop.
I don't join with this airdrop looking for how popular and thousand hundred people joining will make small reward allocated for airdrop participants.
Its too sad for participants after wasting their time and spent much fees for making transaction but not eligible criteria of Zksync airdrop and I don't know why most of user can't get eligible.
It's annoying when one does the necessary task to be qualified for an airdrop, they gets denied of not being eligible.
I see airdrop as when each of its participants won't get the token. That's why I put less interest in it because you can do the required task you won't get any token, even if you manage to it, it won't be worth the stress of waiting for months to receive the poor pay
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Zksync airdrop made many participants disappointed and huge impact after listing on the top market current price not increasing yet because many fud made by the top whales after failure qualified the criteria for receiving Zksync airdrop.
I don't join with this airdrop looking for how popular and thousand hundred people joining will make small reward allocated for airdrop participants.
Its too sad for participants after wasting their time and spent much fees for making transaction but not eligible criteria of Zksync airdrop and I don't know why most of user can't get eligible.
It's annoying when one does the necessary task to be qualified for an airdrop, they gets denied of not being eligible.
I see airdrop as when each of its participants won't get the token. That's why I put less interest in it because you can do the required task you won't get any token, even if you manage to it, it won't be worth the stress of waiting for months to receive the poor pay
Thing is — since airdrops have gotten retroactive, participants don't know doing which tasks will make them eligible for airdrop (that is, project actually decides to do an airdrop), so they speculate tasks in order to get lucky which sometimes works and sometimes don't.
Sometimes participant's wallet also gets flagged as sybil so they don't get any reward despite having done necessary tasks.
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IMO, zkSync's decision to limit airdrop allocations may compromise its community support by hindering the project's growth and adoption, as a strong and engaged community is crucial for the success of any crypto project.
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IMO, zkSync's decision to limit airdrop allocations may compromise its community support by hindering the project's growth and adoption, as a strong and engaged community is crucial for the success of any crypto project.
What they could do except limiting the airdrop allocation? There were huge number of people farming ZK, do you really expect them to give allocations to each one them? And I tell you, a good hunters got in anyway, look at this: https://x.com/k1z4_/status/1804498112154620370
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IMO, zkSync's decision to limit airdrop allocations may compromise its community support by hindering the project's growth and adoption, as a strong and engaged community is crucial for the success of any crypto project.
Its not fair with limitation of user are eligible for ZK airdrop although have many user are qualified after spending much fees for transaction but most of them not take the snapshoot period.
I don't know which one more detail criteria for user are eligible for receiving ZK Airdrop behind many user still complaint and not happy with the result of ZK airdrop not eligible yet after spending much fees and entry at the early moment.
Recently many kinds of ZK airdrop still distribution and I saw their announcement allocated AZ airdrop for user get participants with trustwallet platform.
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Its not fair with limitation of user are eligible for ZK airdrop although have many user are qualified after spending much fees for transaction but most of them not take the snapshoot period.
I don't know which one more detail criteria for user are eligible for receiving ZK Airdrop behind many user still complaint and not happy with the result of ZK airdrop not eligible yet after spending much fees and entry at the early moment.
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Zksync uses the Time-Weighted Average Balance (TWAB) method: This measures the average amount of crypto assets held in your ZKsync Era wallet over a certain period. So in my opinion this is a new method that is quite good even though there are many pros and cons about the eligible list that is enforced, such as some NFT holders and Libertas Omnibus NFT holders even get a small allocation.
I've been on Zksync for 2 years and only got 1000 ZK, I was disappointed at first but seeing how the distribution and the system was used I realized that it was a new method that no other project had ever had.