Happy New Year guys, 2024 has started with a bang as ZK Fair has opened claim for their airdrop.
This is a decent sized airdrop with users getting 2,000 to 20,000 $ZKF tokens airdropped which on an average is worth about $50 - $100.
You can check your eligibility here - https://zkfair.io/airdrop
What was the Eligibility Criteria
The $ZKF tokens you become eligible is linked to the activity level you had across the different ZK platforms like Polygon ZK EVM and ZK Sync Era. I could not find any document with detailed matrix of the scoring mechanism mapping to the tokens awarded but they have mentioned in their site that the gas spent on transactions has a clear link to your reward. So higher has been your number of transactions the bigger will be your reward pool.
If you had been grinding last year on ZK Sync and ZK EVM then you will definitely be entitled to a decent airdrop.
Airdrop Claiming Window
One thing you need to keep in mind is that the airdrop claiming window is really short of just 11 days from 1st to 11th Jan, 2024. After this window the remaining unclaimed tokens will be burned. Looking at their community discussion most members seem to be holding their tokens for now expecting a pump once the burn happens on 11th Jan.
Most of the recent airdrops had a very short claiming window, which I don’t like as I missed some good airdrops coz I got to know about them too late.
Earlier Airdrops were open for claim for years so there was no hurry and people did not miss it. Now the windows are of few days and weeks which leads to many eligible users missing out on claiming them.
How to Claim the Airdrop?
Once you see what amount of tokens you have been awarded you need to prepare to complete your claim.
If you have already used the ZK Fair chain then most of these steps will already be complete for you. If not you might have to shuffle around some funds.
ZK Fair is a separate blockchain than ZK Sync Era and Polygon ZK EVM. To complete your claim you will first have to bridge some USDC to ZK Fair. USDC is the currency used on ZK Fair for paying the gas fees for transactions.
I used Orbiter Finance to bridge some USDC to complete my transactions. I will recommend bridging at least $2 to $3 as you will need to first claim the airdrop tokens then you might want to approve ZKF and them swap or stake it depending on what’s your plan. There would be 3-4 transactions required and $3 should cover it.
In the video at the end of this post I have recorded the steps involved in bridging, claiming and swapping for ZKF.
What to do with the Airdrop?
Well this you need to ask yourself and also depends on if you have any urgent need of liquidity. One word of caution here that currently there is only one exchange supporting swap from ZKF to USDC and that is Izumi Finance.
As this is a new token with limited liquidity the price is highly fluctuating so keep the slippage high and if possible defer swapping for a few days as there is a high chance of your swap failing and you will lose substantial gas fees.
I am planning to swap 50% of my allocation on 11th jan after the unclaimed token burn and keep the rest as a moon bag for the future. Everything seems to be pumping right now and if any project gets new users attention it can easily do a 10-100X.
Overall I see this airdrop as a very positive omen for things going super bullish in 2024.
Cheers,
Sam
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