Digoron

Человек

[KashKysh ❄️ @KashKysh]

After the $ZK disaster, I can only be extremely bullish on $ZRO

What if $ZRO is the endgame?👇

1) The first announcement was awful, qualifying some legit dApps as Sybil tools. However, according to @PrimordialAA's latest tweets, the transactions considered as "low value" won't flag you as Sybil and will be taken into account (1/5th of the value of a high-value tx).

2) The initial Sybil list, despite including some false positives, wasn't that awful. More than that, this list is already discarded & will be improved.

3) The review of the Sybil hunt reports is partly made public. From what I saw, if there are doubts about false positives, the report is quickly discarded.

4) There are about 1.4M addresses with more than $10 of fees spent. They will distribute parly according to the fees spent for the direct allocation, while the volume / number of tx is included in most RFPs.

5) The allocation will be divided into two slices - RFP & Direct allocation. It's a good way to broaden the criteria - for instance, even if Stargate LP won't be taken into account for the direct allocation, it'll be used for Stargate's RFP (which in the end, is logical).

6) The number of reports to (carefully) review was insane (22k clusters), yet they seem to be close to done with it already - https://t.co/YflH96Xz0y. My guess is that we get the checker early next week, and the drop in about two weeks.

7) They said they'll announce once the Snapshot is taken, and they did it. They said $ZRO is coming in H1 2024, and it will.

Honestly, so far so good. If the community allocation follows, this will be the best-executed drop of 2024 by quite a margin.

[Andrew 10 GWEI @Andrey_10gwei]

This is just the tip of the iceberg, but the "New Bottom" has officially been reached by the ZK team, and it's unlikely anyone will "surpass" them anytime soon.

[Andrew 10 GWEI @Andrey_10gwei]

They are listed in LayerZero reports and were topped up on the same day with identical amounts from the same sources. https://t.co/c7aja2niO3 - Wallets that were blacklisted as Sybils by Arbitrum are now ELIGIBLE for the max ZK airdrop allocation. ->

[Andrew 10 GWEI @Andrey_10gwei]

@_WOOFi
- without allocations, and the liquidity brought by users was not counted in the airdrop criteria. Preliminarily, there are also 2 industrial Sybil farms with 44k and 9k wallets, respectively, which in total received over 500m ZK tokens. ->

[Andrew 10 GWEI @Andrey_10gwei]

@Element_Market
- the top NFT marketplace in ZK, deprived of allocations
@zk_apes
- without allocations.
@Rollup_Finance
- without allocations.

[Andrew 10 GWEI @Andrey_10gwei]

@TrustaLabs
also commented it. Many ecosystem projects were also "left out":
@zkpepereal
deprived of project allocations
@zkerafi
deprived of project allocations, and the liquidity brought by users was not counted in the drop criteria ->

[Andrew 10 GWEI @Andrey_10gwei]

Interestingly,
@nansen_ai
distanced itself from any involvement in detecting Sybils for ZkSync or advising on allocations. This means the team did everything themselves, as when distributing to oneself, it's best to involve as few outsiders as possible.

[Andrew 10 GWEI @Andrey_10gwei]

2,376,152,343 ZK were distributed among 62,335 wallets. 11.3% of the Total Supply. Or 916,993,109 ZK tokens were distributed among 9,203 wallets. 4.3% of the Total Supply, to 9.2k wallets. Let me remind you, Stark distributed 5% of the total supply to 500k wallets. ->

[Andrew 10 GWEI @Andrey_10gwei]

Now, let's look at some other numbers: The top 50k wallets will receive 55% of the entire airdrop. The top 100k wallets will receive 68% of the entire airdrop. D for decentralization, or Cyberpunk by ZkSync. ->

[Andrew 10 GWEI @Andrey_10gwei]

Hypothetically, there could be 4,000 wallets each with a 10,000 balance, which would be counted as $20,000 when added to the liquidity on platforms like Syncswap. Would such a wallet get a hefty drop? Absolutely. ->

[Andrew 10 GWEI @Andrey_10gwei]

The team, insiders, VCs, and others involved in this scheme injected 40mln liquidity across numerous wallets, which received abnormally high allocations(10k−100k) based on known criteria. ->

[Andrew 10 GWEI @Andrey_10gwei]

$40mln in liquidity was withdrawn in one day. Almost as much as came in November left in January. Could this be a coincidence? Unlikely. ->

[Andrew 10 GWEI @Andrey_10gwei]

Nov 19, 2023 - TVL: 106m USD Nov 23, 2023 - TVL:150m USD In just 4 days, the network's liquidity grew by over 40% - by $44mln. Looks quite suspicious,doesn′t it? Let′scontinue. Jan 9, 2024 - TVL:167m USD Jan 10, 2024 - TVL: 127mUSD ->

[Andrew 10 GWEI @Andrey_10gwei]

It is for liquidity that this project distributed insane allocations of 100k tokens, despite being an L2 blockchain, not a liquid (re)staking protocol. ->

[Andrew 10 GWEI @Andrey_10gwei]

However, unlike the aforementioned team, the blockchain is transparent and "remembers" everything. Let's analyze DeFiLama's data on the TVL (Total Value Locked) in the ZkSync network. ->

[Andrew 10 GWEI @Andrey_10gwei]

"New Low" for
@zksync

ScamERA: The Biggest Airdrop SCAM in Crypto I think it's no longer news to anyone that teams distribute tokens to themselves through airdrops. ZkSync has taken this practice further than anyone else
@gluk64
@frogmonkee
@Ozhar
@TrustlessState
#zksyncscam

[Coin Metrika @coinmetrika]

Airdrop failure from @zkSync or where is the decentralization?

Blockchain is a transparent territory. Traces remain, even if someone leaves an airstream for maneuvering.

The @zksync team has made a sensation in the crypto community with the most opaque distribution possible. Some points are simply absurd.

@gluk64
@frogmonkee
@Ozhar
@Yogi13031997
@stonecoldpat0
@TrustlessState
@Caneleo55
@heycape_
@0x_Lens
@gluk64
@TheZKNatiou
#zksyncscam

1) 13,000 wallets with 0 tx in the zkSync network received an allocation. And what use are these users to the project if they haven't even come in contact with it? https://t.co/T7Tigfx0FX

[Coin Metrika @coinmetrika]

2) 9,000 wallets got the maximum airdrop @zksync of 100,000 $ZK tokens. That is 900M tokens from 3.6B went to only 9,000 wallets. That's 4.3% total supply. Many projects only give out airdrop at 5% to hundreds of thousands of wallets. Where is the decentralization? The main volume of tokens is distributed to a fairly centralized list of wallets.

[Coin Metrika @coinmetrika]

4) the league system for wallets is completely opaque, where wallets that did not score 450 $ZK were stripped of their allocation in the third stage after the multipliers. The team did not provide a formula or other mechanism to verify the wallet. Users are deprived of the opportunity to verify that their wallet did not score the required minimum. Why the whole selection system then? We could have chosen the winners on dice..... @zksync @TheZKNatiou