ZERC DeRace Airdrop Details: How the zkRace Token Swap Worked and What It Means for Holders
When the DeRace project shifted to zkRace in May 2024, it wasn’t just a rebrand. It was a full blockchain upgrade that affected thousands of token holders. If you owned DERC before May 13, 2024, you didn’t need to do a thing - your tokens automatically became ZERC. No forms. No wallet transfers. No panic. Just a clean, silent swap that kept your value intact.
What Exactly Was the zkRace Airdrop?
The zkRace airdrop wasn’t a giveaway of free tokens. It was a token swap - a technical migration from the old DeRace (DERC) token to the new zkRace (ZERC) token. This wasn’t a marketing stunt. It was a necessary upgrade to move from an older, less efficient blockchain system to one built on Base, a layer-2 network powered by Coinbase. The goal? Faster transactions, lower fees, and better scalability for the NFT horse racing game.Here’s the simple truth: if you held DERC in your wallet or on a supported exchange before the snapshot, you got ZERC. No action needed. The system did it for you. The swap ratio was 1:1. One DERC became one ZERC. No dilution. No loss. Just a name change on the blockchain.
How the Swap Actually Worked
The process was tight and timed. On May 13, 2024, at exactly 16:00:00 UTC, a blockchain snapshot was taken. This meant every wallet holding DERC at that exact second was recorded. That list became the official roll of who got ZERC. It didn’t matter if you held DERC for one day or one year - as long as you had it at that moment, you were eligible.Exchanges handled the swap automatically. KuCoin and Gate.io were the two major platforms that supported the migration. KuCoin stopped DERC trading on May 28, 2024, and began trading ZERC/USDT at 10:00 UTC that day. Withdrawals for ZERC opened the next morning. Gate.io did the same. Users didn’t have to claim anything. The exchanges handled the conversion behind the scenes.
For those holding DERC in personal wallets - like MetaMask or Trust Wallet - the process was even simpler. The zkRace team deployed a new smart contract on the Base network. The old DERC contract was frozen. The new ZERC contract automatically recognized wallet balances from the snapshot and minted the equivalent ZERC tokens. You just needed to add the ZERC token contract to your wallet to see the balance update.
ZERC Tokenomics: Supply, Price, and Trading
As of March 2026, here’s what the ZERC token looks like:- Total Supply: 120,000,000 ZERC
- Circulating Supply: 100% - all tokens are in the market
- Current Price: $0.0258
- Market Cap: $3,094,440
- Daily Trading Volume: $122,795
- Blockchain: Base
- Contract Address: 0xa3a2...f049815
The token is fully diluted, meaning no more ZERC will be created. The entire supply was released during the swap. That’s unusual. Most projects hold back tokens for team, marketing, or future rewards. zkRace didn’t. All 120 million were distributed upfront. That’s a signal - either confidence in the ecosystem, or a lack of future issuance plans.
The price has been steady since the swap. It started around $0.025 and has hovered between $0.025 and $0.026 for months. The 24-hour trading range in early March 2026 was $0.0257 to $0.0262. That’s tight. It suggests low volatility and possibly low liquidity. The daily volume of $122,795 is modest. For comparison, top GameFi tokens trade millions daily. ZERC isn’t a liquidity giant - it’s a niche asset.
What ZERC Is Used For
ZERC isn’t just a tradable token. It’s the engine of the zkRace metaverse. Every in-game action requires ZERC:- Racing: Entry fees for races are paid in ZERC.
- Breeding: To breed two NFT horses, you need to pay ZERC as a fee.
- Hippodrome Construction: Building your own race track costs ZERC.
- Trading: All NFT horse sales on the marketplace are settled in ZERC.
- Referrals: Earn ZERC by inviting new players.
- Bug Reporting: Report a glitch? Get rewarded in ZERC.
There’s no other currency in the ecosystem. No stablecoins. No ETH. No USDT. If you want to play, you need ZERC. That’s a strong utility signal. It means the token isn’t just speculation - it’s required for access.
Security and Audits
The zkRace smart contracts were audited by Hacken, a well-known blockchain security firm. The audit report is public. It didn’t find critical vulnerabilities. That’s reassuring. Many GameFi projects skip audits to save money. zkRace didn’t. That tells you they took the transition seriously.The audit focused on the new ZERC contract, the breeding logic, and the hippodrome construction code. All three passed with minor, non-critical findings. The team fixed them before launch. That level of diligence is rare in the space.
Is There Still an Airdrop?
The big token swap is over. There’s no more automatic airdrop for old DERC holders. But that doesn’t mean ZERC rewards are gone. The zkRace team still runs occasional promotions:- Weekly challenges: Complete 3 races, earn 50 ZERC.
- Referral bonuses: Get 10% of your friend’s race fees in ZERC.
- Community events: Discord events sometimes reward ZERC for participation.
- Bug bounties: Report a real issue, get paid in ZERC.
These aren’t massive. You won’t get rich from them. But they keep the community active. They also reward players who stick around, not just speculators.
What Happened to DeRace?
DeRace (DERC) is dead. The old contract is frozen. No one can send or receive DERC anymore. Exchanges removed it. Wallets no longer show it unless you manually added the old contract. It’s a ghost. The only trace of it is the history on the blockchain.The zkRace team didn’t just upgrade the token. They upgraded the whole experience. The NFT horses still have the same traits. The breeding rules are the same. The race tracks still look identical. But now, everything runs faster. Transactions that used to take 15 seconds now take 2. Gas fees dropped from $5 to $0.10. That’s the real win.
Who Benefits From This?
If you were a DERC holder before May 13, 2024 - you kept your value. No loss. No hassle. That’s the win.If you’re a player who wants to race, breed, or build - you’re now on a faster, cheaper system. That’s the win.
If you’re a trader looking for low-volume, low-liquidity assets - ZERC is still there. But don’t expect big moves. It’s not a meme coin. It’s a utility token with a small, dedicated user base.
The zkRace airdrop wasn’t about giving away free money. It was about moving a working ecosystem to a better home. And for the people who were already there, it worked exactly as it should.
Did everyone who held DERC get ZERC automatically?
Yes. If you held DERC in a wallet or on a supported exchange (like KuCoin or Gate.io) before the snapshot on May 13, 2024, at 16:00 UTC, you received ZERC automatically. No action was required. The swap was handled by the protocol and exchanges.
Can I still claim ZERC if I missed the snapshot?
No. The token swap was a one-time event. The snapshot was final. If you didn’t hold DERC before May 13, 2024, you cannot claim ZERC through the original migration. You can only buy ZERC on exchanges like KuCoin or Gate.io.
Is ZERC a good investment?
It depends on what you’re looking for. ZERC isn’t a speculative asset with high volatility. Its price is stable because it’s tied to usage in the zkRace game. If you play the game, you need ZERC. If you don’t, there’s little reason to hold it. It’s not a get-rich-quick token - it’s a play-to-earn utility token with limited market demand outside its ecosystem.
Where can I trade ZERC today?
ZERC is available on KuCoin and Gate.io. It trades against USDT. It’s not listed on major exchanges like Binance or Coinbase. The trading volume is low, so liquidity is limited. Use limit orders, not market orders, to avoid slippage.
Do I need to stake ZERC to earn rewards?
No. ZERC doesn’t have staking. Earnings come from playing the game: racing, breeding, building hippodromes, referring players, or reporting bugs. All rewards are paid in ZERC, but you don’t lock up your tokens to earn them.
Carol Lueneburg
March 21, 2026 AT 23:43Lucy de Gruchy
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