As a researcher with a background in blockchain technology and cryptocurrencies, I find the recent developments surrounding LayerZero’s airdrop and token launch particularly intriguing. The transparency and fairness of the distribution mechanism, combined with the community’s active participation through on-chain voting, are key elements that set LayerZero apart from many other projects in this space.
The claims process began this morning at 7 a.m. Eastern Time, marking the next step following the successful rollout of its airdrop eligibility verifier page. Noteworthy is that token holders are granted the ability to participate in voting on LayerZero protocol’s fee switch through an unchangeable smart contract. This results in a public on-chain referendum taking place every six months.
In their latest blog update, the foundation disclosed that a generous portion, equating to 38.3% of the entire issued amount of one billion tokens, is earmarked for distribution amongst users, developers, and the wider community.
On the first day of distribution, a portion of 8.5 billion ZRO tokens (equaling 8.5% of the total supply) will be accessible to eligible recipients. The rest of the community-allocated tokens, amounting to over 85 million tokens, are earmarked for future distribution plans intended to bolster ecosystem development.
As a crypto investor, I’d put it this way: Around 15.3% of the total tokens are set aside for future distribution. This includes rewards for users, collaborations with protocols and infrastructure projects, and community engagement through initiatives like Requests for Proposals (RFPs).
As a researcher examining LayerZero’s token distribution, I discovered that they have allocated 32.2% of their total token supply for strategic partners and 25.5% for core contributors. These tokens will undergo a vesting schedule with a one-year locking period followed by a monthly unlock during the subsequent two years.
Additionally, the foundation disclosed its intention to buy back 40 million ZRO tokens, earmarked for the community pool.
As an analyst, I’d put it this way: The announcement underscores the significance of the upcoming ZRO token launch in making LayerZero a decentralized infrastructure owned by the public. With approximately 1.28 million wallets eligible for airdrop redemption, out of over six million unique addresses engaging with our protocol, we’re witnessing a transformative shift towards community ownership.
Listing on Exchanges
As an analyst, I’d rephrase it as follows: I’ve noticed that the recent airdrop of ZRO tokens has generated significant interest from major crypto exchange platforms. For instance, Binance, the globe’s top cryptocurrency exchange, has declared its intent to list and facilitate trading for ZRO against BTC, USDT, FDUSD, and TRY starting 12:00 UTC on June 20. Users can initiate deposits in advance of trading but will have to wait until June 21 to withdraw their tokens.
Additionally, Upbit, South Korea’s leading cryptocurrency exchange, declared that it will list ZRO in its KRW, BTC, and USDT markets, with trading commencement scheduled for 21:00 local time on June 20. Likewise, OKX and Bithumb have also disclosed their intentions to add the token to their platforms.
The unveiling of our airdrop and the subsequent market debuts mark a pivotal moment for LayerZero in the world of decentralized finance. With a dedicated following and key partnerships in place, the token is poised for a promising beginning.
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2024-06-20 11:46