Weekly Crypto Project Updates: ZK & ZRO Airdrops Go Live (June 16–22)

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The crypto space saw significant movement this week, with major airdrops launching, ecosystem funds expanding, and key protocol upgrades shaping the next phase of decentralized innovation. From ZKSync and LayerZero’s highly anticipated token distributions to governance shifts in memecoins and long-term sustainability plans, the ecosystem continues to evolve at a rapid pace.

This comprehensive update covers the most impactful developments from June 16 to June 22, offering insights into airdrop behaviors, new funding initiatives, and strategic upgrades across leading blockchain projects.

ZKSync Airdrop Goes Live with Strong Exchange Support

ZKSync officially launched its ZK token airdrop this week, marking a pivotal moment for one of Ethereum’s most prominent Layer 2 scaling solutions. The token debuted on major exchanges including Binance, OKX, and South Korea’s Bithumb, reflecting broad market confidence.

At the time of reporting, ZK was trading around $0.175**, with a circulating market cap exceeding **$644 million. Binance also announced a community support initiative, allocating 10.5 million ZK tokens to up to 52,500 eligible users, addressing concerns over initial distribution fairness.

According to on-chain analytics firm Nansen, user behavior post-airdrop reveals distinct trends:

These patterns suggest early volatility but also highlight sustained interest in ZKSync’s zk-rollup technology and future ecosystem growth.

👉 Discover how Layer 2 tokens are reshaping crypto portfolios in 2025.

LayerZero Airdrop Launches: ZRO Distribution Sets New Precedents

On June 20, LayerZero opened claims for its ZRO token, immediately listed on Binance, OKX, Coinbase, and Upbit. The airdrop reached 1.28 million eligible addresses, redistributing nearly 10 million ZRO tokens previously at risk of Sybil attacks.

What sets this airdrop apart is its innovative Proof-of-Donation mechanism: users must donate $0.10 worth of USDC, USDT, or ETH** per ZRO claimed. All donations go to the **Protocol Guild**, with the LayerZero Foundation matching contributions up to **$10 million.

While claims can be made across multiple chains, all Merkle proofs must be verified on Arbitrum, causing a surge in network activity. On June 20, Arbitrum recorded a record-breaking $3.43 million in rollup revenue**, with profits reaching **$3.29 million—a historic high.

Gas fees on Arbitrum spiked to nearly 35 gwei, underscoring the chain’s critical role in cross-chain infrastructure. This event solidified Arbitrum not just as a scaling solution but as a backbone for major protocol launches.

Blast Airdrop Countdown Begins

The anticipation for Blast’s upcoming airdrop intensified this week as the team announced it will launch in seven days. Users must ensure their EOA (externally owned account) has claimed Blast Gold or accumulated points and has logged into the Blast dashboard at least once—either via invitation or account linking.

Developers are also under deadline: all DApps must distribute user rewards by June 25 at 20:00 Beijing time. This finalizes eligibility for the highly speculated token drop, which has drawn attention for its native yield-bearing design and growing DeFi integrations.

Merlin Chain Launches $MERL Ecosystem Grant Program

Merlin Chain unveiled Merlin’s Adventure, a new ecosystem incentive program offering 210 million MERL tokens to developers building on its platform. The initiative targets five key contributor types:

This strategic push aims to deepen integration between Bitcoin’s security and Ethereum-compatible smart contracts, positioning Merlin Chain as a bridge between two dominant blockchain paradigms.

Fantom Foundation Launches $FTM Innovation Fund

Fantom announced the creation of the Sonic Labs Innovator Fund, committing up to 200 million FTM to attract high-potential DApps to its Sonic network. This complements an earlier pledge of over 100 million S tokens in airdrops.

Backed by a $10 million strategic investment led by Hashed, the fund supports broader ecosystem development. A new governance proposal outlines long-term sustainability measures, including:

Notably, if annual inflation is capped at 1.5%, approximately 47.6 million tokens will be minted yearly. Unused allocations will be burned, ensuring fiscal discipline and value accrual for stakeholders.

Worldcoin Cleared in Kenya Investigation

In positive regulatory news, Kenyan authorities have dropped their investigation into Worldcoin. The Directorate of Criminal Investigations (DCI) confirmed on June 14, 2024, that no further action will be taken.

The project had been suspended in 2023 over concerns about biometric data collection. Moving forward, DCI advised Worldcoin to register locally, obtain proper licenses, and vet third-party partners thoroughly—guidance that could shape its global compliance strategy.

Ethena Updates Tokenomics: 50% Lock-Up for Airdrop Recipients

Ethena Labs introduced major changes to its ENA tokenomics, integrating re-staking via Symbiotic and cross-chain security through LayerZero’s DVN network.

Key updates include:

A critical rule change: starting June 17, all users receiving ENA via airdrop must lock at least 50% of their claimable tokens in one of three options:

This ensures long-term alignment and network security.

Additionally, Bitget now supports USDe as collateral for perpetual contracts and has added it to savings and spot trading products. While USDe generates yield via staking rewards and neutral position hedging, risks remain—particularly during prolonged negative funding rates.

ether.fi Proposes ETHFI Buyback Using Protocol Revenue

The ether.fi Foundation proposed using up to 50% of protocol revenue to buy back ETHFI tokens. Initially, 5% of monthly income from staking and liquidity vaults will fund purchases.

These ETHFI tokens will be held in treasury and used to boost liquidity on Curve, increasing total value locked (TVL) and market depth. Future expansions require community voting, reinforcing decentralized governance.

Slerf Memecoin Advances DAO Governance Plans

Solana-based memecoin Slerf is transitioning toward full community governance. The team plans to establish a DAO and Community Committee, including KOLs from English and Chinese communities.

Negentropy Capital’s Billywen, a major donor, confirmed alignment with the dev team on this vision. Future decisions—including management oversight, NFT utility enhancements, and repayment of the remaining 12,000 SOL debt—will be subject to community votes.

This marks a shift from chaotic origins (including a disastrous LP burn in March) toward structured decentralization.

Notcoin Founder Outlines Four-Year Sustainability Roadmap

Notcoin’s founder, Sasha, declared that “tap-to-earn” models are unsustainable long-term. To ensure survival, Notcoin plans to evolve over the next four years by building efficient subsystems that operate independently of the core team.

New initiatives include:

With strong traction in Russia, Nigeria, the U.S., and Iran, future plans include AI-powered content platforms and a decentralized university open to all.

Frequently Asked Questions

Q: How can I claim my ZK or ZRO tokens?
A: Visit the official ZKSync or LayerZero portals using your wallet. Ensure you meet eligibility criteria based on past usage or interactions with their protocols.

Q: Why did Arbitrum gas fees spike during the ZRO airdrop?
A: All ZRO claims require Merkle proof verification on Arbitrum, creating sudden demand for blockspace despite cross-chain claims.

Q: What is Proof-of-Donation in LayerZero’s airdrop?
A: It’s a mechanism requiring users to donate $0.10 per ZRO claimed. Donations support Protocol Guild, with LayerZero matching up to $10M.

Q: Are memecoins like Slerf becoming more sustainable?
A: Projects like Slerf are adopting DAOs and governance committees to improve accountability and long-term viability beyond hype cycles.

Q: Is Notcoin moving away from tap-to-earn?
A: Yes—founder Sasha believes only sustainable models survive. Notcoin is shifting toward game integrations, token burns, and community-driven subsystems.

👉 Explore how re-staking and cross-chain security are defining next-gen crypto protocols.

Core Keywords

ZKSync, LayerZero, ZRO airdrop, Merlin Chain MERL, Fantom FTM fund, Ethena ENA lock-up, ether.fi ETHFI buyback, Notcoin sustainability

The week highlighted a maturing ecosystem—where innovation meets accountability, and speculative launches give way to structured growth and decentralized governance. As protocols strengthen their foundations, users benefit from clearer incentives and long-term value creation.

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