ZkSync teases v24 upgrade, fueling airdrop rumors

ZkSync said Friday in an X post that it will soon roll out an upgrade to accelerate its protocol's decentralization. Some traders see the announcement as a sign that the network will conduct an airdrop this summer. 

The Layer 2 protocol said the v24 upgrade would come sometime this summer, according to its X post. Following the rollout, zkSync will be able to execute an airdrop, an event traders have anticipated since last March. 

"The remaining missing pieces are expected to be in place by the end of June," zkSync said Friday in a post on X. “The upcoming release of v24 is the final planned protocol upgrade needed before handing over network governance to the community.”

Early last year, investors bridged more than $8 million worth of cryptocurrencies to the Layer 2 solution, fueling speculation about a potential airdrop. Airdrops, or virtual token giveaways, are a popular marketing tactic crypto networks use to generate public interest in their projects. 

ZkSync, founded in 2019, is a special type of Layer 2 solution known as a zero-knowledge, or Zk, roll-up. It aims to reduce the costs of most transactions by storing data off-chain.