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Multichain decentralized exchange PancakeSwap has announced a significant reward initiative for its community. According to the announcement, PancakeSwap will be airdropping 2,452,128 zkSync (ZK) tokens between July 5 and August 5.

The move is a recognition of the community’s continued support for PancakeSwap’s deployment on zkSync since July 2023. This announcement follows a major milestone for the platform, which has surpassed $3 billion in trading volume, $5 million in total value locked (TVL), and over 1.9 million traders.

PancakeSwap ZK Airdrop Eligibility Criteria

The airdrop distribution is open to veCAKE holders, liquidity providers, active traders, Traverse campaign participants, zkSync prediction users, and zkSync gauge voters who meet the eligibility requirements.

Active users who have contributed to the platform through trading, liquidity provisioning, and participation in previous zkSync initiatives will be able to participate in the airdrop. Additionally, the airdrop will also go to future contributors who provide liquidity and trade with zkSync PancakeSwap to drive platform growth.

The PancakeSwap team told Cointelegraph that the initiative aims to reward both long-time contributors who have supported the platform’s journey and new participants who actively engage with PancakeSwap.

To claim ZK tokens, eligible users must connect their wallet to the PancakeSwap platform homepage and follow the pop-up notification guide. Any unclaimed tokens will go to the PancakeSwap ecosystem for future developments and community initiatives.

Impact of the initiative

This airdrop is another step in PancakeSwap’s strategy to strengthen its community and encourage the growth of the platform. By rewarding users, PancakeSwap demonstrates its commitment to creating a vibrant and dynamic ecosystem.

The distribution of ZK tokens not only serves as an incentive for current users but also attracts new participants who want to engage with the platform.

The announcement was not enough to positively impact the price of PancakeSwap’s native token, CAKE. According to CoinGecko, in the last 24 hours the price of the token has fallen 8.2% to $1.70.


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