ZigZag DEX to sell governance tokens with airdrop down the line

Quick Take

  • Decentralized exchange ZigZag is selling its governance tokens for USDC in a token sale.
  • Token holders will then be able to vote on how the platform airdrops its early adopters.

Decentralized exchange ZigZag announced Monday that it intends to conduct an airdrop for early adopters but with a caveat: the requirements of the airdrop will be decided by those who purchase governance tokens in a sale.

ZigZag will be selling the governance tokens — with the ticker ZZ — on its exchange on June 24. It's offering 2 million tokens out of a total supply of 100 million tokens. The token's sale price will be decided by trading on the exchange.

Those who buy the governance tokens will be the initial members of the ZigZag DAO, a community that will help decide how the platform evolves over time. One of the first orders of business will be to decide the details of the airdrop.

Crypto airdrops started out as a large sudden gift of tokens to early adopters of protocols. Yet over time, as traders started to use certain protocols in the hope of qualifying for any potential airdrops, projects had to start being more restrictive, adding in more detailed requirements to be eligible. This meant that some airdrops ended up with a negative response from their community.

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