the token of the DEX of Linea, ZKsync, and Scroll arrives

SyncSwap, the reference DEX for L2 blockchains for ZKsync, Linea, and Scroll, is preparing to airdrop its governance token.

A few days ago, the project team announced the launch of the third version of the protocol, marking the entry of the SYNC asset into the market.

The Token Generation Event (TGE) for this cryptocurrency may occur shortly after the opening of the ZKsync Ignite bounty campaign.

SyncSwap announces V3 and hints at air distribution of the SYNC token

The famous decentralized exchange SyncSwap recently announced the third version of the protocolexpected to launch its own airdrop operation.

To celebrate the conclusion of 2024, in which the platform set on-chain record metrics, a new pool model has been introduced

Let’s talk about Range Pools, which features excellent capital efficiency and customizable price ranges.

This new architecture supports all asset types with flexible LP management, allowing for a smooth and streamlined user experience.

With the advent of V3, SyncSwap has become in all respects a Hyper Model DEX, where liquidity providers can benefit from huge opportunities and high APRs.

Range Pools will initially run for the ZKsync network, but will then be expanded to other chains.

Announcing the new version, SyncSwap has talked about the impending token generation event (TGE) for its SYNC token.

The platform team had previously talked about a total supply of 100 million SYNC, without adding other details such as the contract title and TGE date.

It now seems, instead, that everything is ready for the official debut of this new cryptocurrency, which will be presented in the form of an airdrop to loyal users of the exchange.

In particular, it is expected that all regular users of ZKsync, Scroll, Linea, Sophon, Zircuit and Taiko will be rewarded.

SyncSwap’s airdrop rewards the community 100% and excludes VC

An important factor in SyncSwap’s airdrop relates to the focus on its community, which is responsible for the platform’s growth in 2024.

The team indicated that the share of SYNC tokens allocated to Airdrop will be 100% directed towards the community, Excluding venture capital investors.

This approach allows for a greater economic contribution to users of the protocol, compared to typical situations in the airdrop world where the majority of rewards go to venture capital.

However, we do not know the exact launch date of SYNC: some users claim that it will likely take a few more months of waiting.

Recently, Hyperliquid also opted for a live distribution that will reward its community 100%.

In total, the L1 project distributed 310 million HYPE tokens, equivalent to 31% of the supply, entirely to users of the protocol, excluding KOLs and external investors.

In hindsight, we can say so The market rewarded the choice of Hyperliquid to Focus on its own ecosystemsince the token has registered 10X since listing.

We’ll see if SyncSwap will be able to follow in the footsteps of Hyperliquid, which was named the best airdrop project for distributed value.

It will be important to know what percentage of the new SYNC token supply will be made available to users, and how much will remain in the team’s hands.

The ZKsync ecosystem is gearing up to launch its Ignite campaign incentives

While SyncSwap is testing the waters in preparation for a cryptocurrency drop, the ZKsync ecosystem is gearing up for a launch ZKsync Ignite Bounty Campaign.

This is the incentive program, which will officially start on January 6, where… In the amount of 325 million Zakat krona, equivalent to 65 million dollars. will be provided.

Of these, 300 million will be used for DeFi rewards, while the remaining 25 million will be used to cover administrative and unexpected expenses.

The tokens will be distributed directly to the decentralized protocols of the ZKsync network, including SyncSwap, which will in turn redistribute them to the end user.

The Ignite campaign will continue for the next nine months: the main goal is to increase liquidity on the L2 blockchain and strengthen the Dapp ecosystem.

We expect this will also provide assistance to the price movement of the ZK token, which despite the swell of rewards, will see greater usage.

particularly, Users will be “forced” to buy ZK and lock it in DeFi liquidity pools to unlock rewardsTherefore, it is expected that there will be a great deal of buying pressure in the market.

SyncSwap will also have a huge incentive from this initiative, as many capitals will flow into the platform, resulting in increased revenues by 2025.

This can greatly contribute to the decision to launch the SYNC token airdrop in advance.

Some on-chain data in DEX SyncSwap

Currently, the SyncSwap decentralized protocol has a “total value locked” (TVL) of $49 million, making it the second largest dApp on ZKsync.

To date, 3,717 Classic sets have been created, highlighting the application’s diverse usage across a wide range of token pools.

It is very interesting to note how a significant portion of the on-chain activity on SyncSwap is declining from June 2024 onwards.

According to data from Dune Analytics. Since June, the values ​​of many metrics such as: volume, active users, swaps, and active groups have decreased significantly.

This ambiguous situation is likely due to the fact that after the launch of ZKsync airdrop (which was distributed in June), users moved towards other decentralized applications.

From April 2023 to June 2024, the protocol remained under siege for more than a year, achieving significant on-chain achievements, only to be abandoned.

Nowadays we are a UAW (Active Users Weekly) is 18,000with nearly 72,000 Texans and $20 million in volume over the past 24 hours.

We will see if SyncSwap, through the air distribution of SYNC, will be able to make itself more attractive to the eyes of farmers and LP investors.

In this regard, it will be necessary for SYNC to be integrated with as many liquidity pools as possible.