zkSync Daily Users Dropped 99% Since January

zkSync daily users count has drastically decreased, barely exceeding 100 combined in Era and Lite over the past few days.

According to Dune data, on Jun. 15, zkSync had 97 daily users in Era and 9 in Lite, totaling 106 users. For comparison, on Jan. 15, 2024, Era had 15.32k daily users and Lite had 760, resulting in an approximate drop of 99.34%.

Change in zkSync daily users. Source: Dune

Change in zkSync daily users. Source: Dune

Biggest Net Churn Reaches $728 Million

The decline in zkSync daily users isn’t the only concerning metric. On Jun. 6, zkSync experienced the largest net churn in Net metrics, reaching a record -$728.1 million.

Typically, zkSync’s Net fluctuates around -$10 million, with occasional drops not exceeding -$80 million.

Negative Net in zkSync. Source: Dune

Negative Net in zkSync. Source: Dune

Sharp Decline in Daily Transactions

This user decline has also impacted daily transaction rates. According to Dune, zkSync’s monthly transactions began decreasing in April 2024. In March, Era and Lite had 331.41k and 8.65k transactions respectively.

By April, these numbers dropped to 136.08k and 10.78k. The downward trend continued in May, with Era transactions at 87.66k and Lite at 7.63k.

Change in transactions on zkSync. Source: Dune

Change in transactions on zkSync. Source: Dune

Reasons for the Drop in zkSync Daily Users

Earlier, on Jun. 10, zkSync introduced the ZK Token (ZK) and announced an airdrop, planning to distribute 17.5% of the total supply. Usually, such events boost network activity as users make transactions to claim tokens. However, zkSync experienced the opposite effect.

Moreover, many users reported not receiving the ZK Token despite qualifying for the airdrop. The crypto community discovered that zkSync violated its terms and conditions.

For instance, the maximum amount a user could receive was 100k tokens, yet one wallet received 104,806 ZK.

Users began checking these wallets. @TheZKNation claimed the max allocation was capped at 100K.

However, users discovered that a sybil-marked account under the Ziixz name on Debank received 104,806 ZK. pic.twitter.com/emt8ZkbS9n

— Stacy Muur (@stacy_muur) June 14, 2024

Additionally, the largest non-fungible token (NFT) marketplace, Element, reported not receiving any ZK tokens.

As the largest NFT marketplace on @zksync, we didn't receive any airdrops, is this a joke?

— Element NFT Marketplace (@Element_Market) June 12, 2024

Previously, we wrote about ZK Nation responding to user complaints on Jun. 14, but that still hasn’t clarified the situation with such strange cases described above.

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