Quick Take:

• Ethereum Layer 2 project Taiko announces “genesis airdrop” ahead of mainnet rollout.
• 5% of Taiko’s total token supply to be distributed to eligible community members.
• Criteria for eligibility includes interaction with Taiko testnet, contributions to GitHub repositories, and participation in Ethereum ICO.

Taiko, a prominent Ethereum Layer 2 rollup project, is gearing up for its mainnet launch by unveiling plans for a “genesis airdrop.” This initiative aims to distribute 5% of its 1 billion token supply to community members in what the project describes as a significant event.

Eligibility for participation in this airdrop encompasses various categories, including individuals who have engaged with the Taiko testnet, block proposers and provers, contributors to designated GitHub repositories, and participants in the Ethereum ICO.

The allocation strategy for Taiko’s token supply is comprehensive, with 48.5% earmarked for key stakeholders. This includes allocations for Taiko Labs and the core team (20%), Taiko Foundation reserves (16.88%), and investors (11.62%). Additionally, a portion of the tokens will be held in the DAO Treasury (20%). Other allocations include 5% for Grants and RetroPGF, another 5% for liquidity and market making, and 10% for the Trailblazer airdrop, distinct from the genesis airdrop.

The anticipated TKO genesis airdrop will become claimable on Taiko’s Layer 2 mainnet upon its official launch. The mainnet, which is expected to debut soon, follows extensive development efforts across six testnets over the past few years. Notably, the network will function as an Ethereum-equivalent ZK-EVM (Type-1), ensuring seamless compatibility with the Ethereum mainnet.

Taiko Labs, the driving force behind the Layer 2 network’s development, has secured substantial funding to bolster its initiatives. With $22 million raised across two funding rounds, Taiko’s journey has been backed by notable investors. The initial $10 million seed round, led by Sequoia China in 2022, was followed by a $12 million pre-Series A round in 2023 spearheaded by Generative Ventures.