zkPass has published a recap to the community regarding the difficulties it faced during the release of its token, the $ZKP, which include issues related to congestion, community frustration, and initial market volatility.
The team has recognized problems associated with the airdrop process and eligibility issues, as well as short-term price movement and so much more on transparency and the long-term view of growth. In a shaky crypto market space, token launches are increasingly coming under scrutiny.
zkPass Airdrop Execution
A massive influx of activity relating to the airdrop routing contract was one of the largest problems in the process of the launch of the $ZKP.
ZkPass reported completing over 150,000 transactions within a few hours. This surge opened the floodgates to Ethereum, resulting in some users delaying or failing to claim their allocations.
The idea behind it was to ease the claiming process and not to compel users with limited allocations to pay gas charges.
Although it was well meant, this was not executed as intended, and zkPass acknowledged that the process has caused friction with those who were impacted by the slowdown.
This event demonstrates to the broader market that even well-planned launches can potentially overwhelm the common blockchain infrastructure. It also supports the necessity of scaling methods of distribution with token airdrops of a greater size constantly increasing.
Community Expectations and Allocation Pressure
zkPass also settled on dissatisfaction with airdrop eligibility and the size of the airdrop.
The team said that according to the market conditions, it is incredibly challenging to issue tokens to more than 150,000 addresses in order to feel prioritized by everyone. Since the community of the project has developed naturally, reviews became intense and emotional.
ZkPass has positioned Airdrop as the beginning of a larger adventure rather than as a $10 bonus. The team indicated that future bonuses would strive to appreciate meaningful contributions in the long run.
To the rest of the crypto industry, the move indicates the change in the manner in which projects can distribute tokens. Markets are increasingly rewarding lasting participation and actual use instead of one-time occurrences.
Market Volatility and Transparency Claims
The initial trading of $ZKP experienced fluctuations in the prices, which the team agreed could impact actual users.
zkPass said they haven’t sold any tokens because they can’t control short-term price changes. Any involvement with the allocation and transfer is on-chain and publicly verifiable. According to the project, Binance was able to see on-chain activity at the time of the launch and remained highly in touch.
The team emphasized that the early prices are usually motivated by inadequate liquidity and price discovery rather than the long-term value. Wider economic cycles and market sentiment also contribute to this phenomenon.
This is a message that is consistent with a trend in the direction of being transparent in the process of token launches as investors seek verifiable information more than promises or stories.
Future Outlook
In the future, ZkPass will reveal its plans for what to focus on in the second stage.
The project is expected to increase the extension of access to more exchanges worldwide to enhance ZKP’s liquidity and participation. It also intends to promote a broader use of zkTLS, its backbone technology that allows verifiable information in their daily web sources.
The team also focused on the translation of the technical capability into a real-world utility in which data, such as travel history, online activity, or platform records, can be made available as portable and reliable.
This emphasis on practical implementation rather than hype may be more significant for the market. With the increased scrutiny of token launches, the projects that demonstrate improved use and continued provision have higher chances of gaining confidence in the long run.
