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On June 11th, 2024, @zkSync / @TheZKNation revealed the list of protocols eligible for developer incentives. ZeroLend, the largest lending protocol and the second-largest dApp at the time of the snapshot was omitted from this list.
—
ZeroLend’s contribution to zkSync Era from July 2023:
• 20% of total zkSync TVL at snapshot
• TVL of 27+ million and a market size of 60+ million (Source: Defillama, Chaos Labs) at snapshot
• 2nd largest dApp at snapshot
• Largest lending protocol - 600% bigger than the second-largest
• $500k spent on audits and bug bounties accross @immunefi, @HalbornSecurity and others
• $50k monthly burn for security and risk management with @chaoslabs, @hexagate, and @hypernative
• Campaigns with various zksync ecosystem partners: @getclave@HoldstationW@Zyfi_org@spacefi_io@koi_finance@zkVeggies@syncswap and others
• Integrations with blue chip projects - @LiquityProtocol@LidoFinance @okxweb3 @Web3WithBinance@circle@ether_fi and others
• Pioneers in implementing paymaster tech and Account Abstraction
• Represented and co-hosted zkSync events/conferences
ZeroLend even today holds over 10% of zkSync's total TVL and the majority of lending activity on-chain (81%)
--
According to @zkSync's documentation and eligibility criteria, ZeroLend is eligible for the airdrop as it meets both criteria:
• Top DeFi Protocols on zkSync with >$2 million TVL ✅
• Top community-led growth ✅
--
zkSync's choice to overlook these contributions and completely exclude ZeroLend from the airdrop raises some definite questions about the fairness and decentralization of their process.
We are sad that the chain did not support the largest lending protocol and its community. Other projects and competitors will comparatively have considerable liquidity mining incentives to outperform us on zkSync in the next few months.
Regardless of this disadvantage, we will build on zkSync for now depending on the incentives @TheZKNation has to offer to the ZeroLend community in the future.
We’re builders first and respect our partners who have built alongside us and would require our partners' support in such times 🙏
Finally, we urge @zksync, @the_matter_labs, @TheZKNation, @gluk64, and the zkSync team to treat their ecosystem contributors and projects fairly.
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