zkRace (ZERC) Airdrop & Token Swap Guide: Details, Snapshot & Trading

Did you hold DeRace tokens before May 2024? If so, your assets didn't disappear-they transformed. The zkRace (ZERC) project executed one of the most structured token migrations in the GameFi space, converting the original DeRace (DERC) token into the new ZERC utility token. For many users, this wasn't just a rebrand; it was an automatic airdrop event that required zero manual action if you were on the right exchange at the right time.

If you are looking to understand what happened to your holdings, how the snapshot worked, or where ZERC stands today in 2026, this guide breaks down the technical details, the timeline, and the current state of the ecosystem. We will cover the mechanics of the 1:1 swap, the exchanges involved, and what this means for your portfolio now.

The Core Event: From DeRace to zkRace

To understand the ZERC airdrop, you first need to understand the entity behind it. DeRace was originally a decentralized NFT horse racing metaverse. It allowed players to breed digital horses, build hippodromes, and compete in races for earnings. In mid-2024, the project underwent a significant pivot, rebranding as zkRace. This wasn't merely a name change. It involved a complete migration of the underlying smart contract infrastructure to improve performance and align with newer blockchain standards.

The "airdrop" most people refer to is actually the token swap distribution. Instead of launching a new token and asking users to claim it manually, the team coordinated with major exchanges to automatically convert existing balances. This approach minimized user error and ensured high participation rates among long-term holders.

• Old Token: DeRace (DERC)
• New Token: zkRace (ZERC)
• Conversion Ratio: 1 DERC = 1 ZERC
• Network: Migrated to Base Blockchain

Snapshot Mechanics: Who Qualified?

The fairness of any airdrop or swap hinges on the snapshot-the exact moment the blockchain records who holds the old token. For the zkRace migration, precision was key.

The snapshot was taken at exactly 16:00:00 UTC on May 13, 2024. If you held DERC tokens in your eligible exchange wallet at this precise second, you were included in the distribution list. The system did not look at your balance from yesterday or tomorrow; it looked at that specific block height.

This timing was critical because it created a clear cutoff. Users who bought DERC after this timestamp did not receive ZERC. Those who sold before it missed out. For those who held, the process was seamless. You didn't need to connect a wallet to a dApp or sign a transaction. The exchange handled the backend logic.

Exchange Implementation: KuCoin and Gate.io

Not all platforms supported the swap equally. The two primary venues for this migration were KuCoin and Gate.io. Both exchanges played a crucial role in ensuring liquidity and user access during the transition.

On May 28, 2024, KuCoin officially opened trading pairs for ZERC/USDT. Before this date, your converted tokens were locked. Once trading opened, you could sell, trade, or hold them. Withdrawals followed 24 hours later on May 29. This delay is standard security practice, allowing the team to monitor for any anomalies before enabling off-exchain transfers.

It is important to note that support for the original DERC token was discontinued entirely. After the migration, DERC became obsolete. If you still see DERC listed on obscure, non-participating exchanges, be cautious. Those tokens likely have no value and cannot be swapped for ZERC.

Tokenomics and Current Market Status (2026)

Fast forward to May 2026. How does ZERC perform today? The token has settled into a mature phase within the GameFi sector. Unlike many speculative coins that burn out quickly, ZERC maintains active utility within the zkRace ecosystem.

The total supply of ZERC is capped at 120,000,000 tokens. Crucially, 100% of these tokens are in circulation. There are no hidden vesting schedules for investors or team allocations waiting to dump on the market. This full dilution means the current price reflects the true market sentiment without the fear of sudden supply shocks.

As of late May 2026, ZERC trades around $0.0258. While this might seem low in absolute terms, it represents a stable micro-cap asset with a market capitalization of approximately $3.1 million. Daily trading volume hovers near $122,000, indicating consistent interest from traders and gamers alike.

The token operates on the Base blockchain, a Layer 2 solution built on Ethereum. This choice reduces gas fees significantly, making micro-transactions-like betting small amounts on horse races or breeding NFTs-economically viable. The contract address begins with 0xa3a2...f049815, which you can verify on BaseScan to ensure you are interacting with the legitimate token.

Utility: Why Does ZERC Exist?

A token without utility is just a number. ZERC powers the entire zkRace economy. Here is how it functions in practice:

1. In-Game Transactions: All bets, entry fees, and rewards in the horse racing metaverse are denominated in ZERC.
2. NFT Breeding: To breed new digital racehorses, you must pay ZERC fees. This creates constant demand from players looking to expand their stables.
3. Hippodrome Construction: Building and upgrading your virtual track requires ZERC expenditure.
4. Governance & Rewards: Holders may participate in referral programs and community challenges that reward ZERC.

This closed-loop economy ensures that ZERC isn't just traded on exchanges but actively used. When players win races, they earn ZERC. When they want to improve their horses, they spend ZERC. This cycle supports price stability better than pure speculation.

Security and Audits

Trust is paramount in crypto. The zkRace smart contracts have undergone security auditing by Hacken, a leading cybersecurity firm in the blockchain space. This audit verified that the token migration code was free from critical vulnerabilities and that the 1:1 swap mechanism functioned as intended.

Additionally, Bitget, another major exchange, has rated zkRace at 3.6 out of 5. While not a perfect score, this rating reflects a balanced assessment of its technological robustness, team transparency, and market activity. It signals that the project is legitimate but carries the inherent risks associated with GameFi volatility.

Common Pitfalls to Avoid

Even with a smooth migration, users often make mistakes. Here is what to watch out for:

• Scam Tokens: Hackers frequently create fake ZERC tokens on other chains (like BSC or Solana). Always check the contract address on the official zkRace website or BaseScan.
• Missed Snapshots: If you held DERC in a private wallet (not an exchange) during the May 13, 2024 snapshot, you likely did not receive ZERC automatically. Check the official zkRace Discord or announcements for any retroactive claims processes, though these are rare for centralized swaps.
• Tax Implications: In many jurisdictions, receiving an airdrop or token swap is a taxable event. The fair market value of ZERC on May 28, 2024, may count as income. Consult a local tax professional.

Future Outlook and Community Engagement

The zkRace team continues to develop the platform. Future updates focus on enhancing the breeding algorithms, introducing new horse traits, and expanding the metaverse features. Occasional promotional airdrops and challenges keep the community engaged, offering fresh ways to earn ZERC beyond simple holding.

For newcomers in 2026, entering the zkRace ecosystem is straightforward. You can buy ZERC on supported exchanges like KuCoin or Gate.io, transfer it to a compatible wallet, and start participating in the races. The barrier to entry is low, thanks to the efficiency of the Base network.