85 Million ZRO Tokens Airdrop Begins Today: LayerZero’s Major Distribution Explained

The LayerZero Foundation is set to distribute a significant airdrop of its native token, ZRO, beginning today. This marks a milestone in the development of the LayerZero protocol, which focuses on cross-chain interoperability.

The distribution aims to benefit its diverse user base, developers, and community members. Here’s everything you need to know about this major event.

Details of the Airdrop

Starting at 7 a.m. ET today, eligible participants can begin claiming their share of the 85 million ZRO tokens being distributed. This initial release represents 8.5% of the total 1 billion ZRO token supply. The LayerZero Foundation has been preparing for this moment with meticulous planning, including an eligibility checker for users launched just yesterday.

🚀 Introducing #ZRO, the native asset of @LayerZero_Labs , ready to be claimed starting June 20 at 11:00 AM UTC!

🤖 #LayerZero, an omnichain protocol, ensures untouchable data packets zoom across 70+ #blockchains, making developers and users very happy (and busy) since 2022.

🎉… https://t.co/Hdj5TPmyOt

— WazzupCrypto (@Wazzup_Crypto) June 20, 2024

According to the foundation’s blog post, “The launch of ZRO marks a pivotal step for the protocol: making it publicly owned, immutable infrastructure.” With a fixed supply of 1 billion tokens, LayerZero has allocated 38.3% for distribution to its community, including users and developers. This careful planning ensures that a substantial portion of the tokens supports the ecosystem’s growth and sustainability.

Allocation and Eligibility

The overall allocation of ZRO tokens has been designed to benefit various stakeholders within the LayerZero ecosystem. Here’s a breakdown of the distribution:

• Community and Users: 38.3% of the total supply
• Strategic Partners: 32.2%
• Core Contributors: 25.5%

Both the strategic partners and core contributors will have their tokens vested over a three-year period, including a one-year lock and a monthly unlock for the following two years. Additionally, the foundation has repurchased 40 million ZRO tokens, committing these to the community bucket.

LayerZero Labs CEO Bryan Pellegrino highlighted the scale of this airdrop, noting that 1.28 million wallets are eligible to claim tokens. This is out of over six million unique wallet addresses that have interacted with the LayerZero protocol.

Ensuring Fair Distribution

The LayerZero Foundation has implemented several measures to ensure the fair distribution of ZRO tokens. A key concern has been to avoid distribution to Sybil attackers—individuals who create multiple fake accounts to unfairly receive more tokens. To combat this, the foundation has used self-reporting, bounty-hunting, and collaboration with on-chain security firms to filter out such attackers.

The foundation has also outlined three main factors for airdrop eligibility: Sybil filtering, Request for Proposal (RFP), and general eligibility criteria. For instance, 3% of the total ZRO supply is allocated to 211 approved RFPs, which are unique proposals aimed at improving the protocol. Additionally, any user who transacted on the protocol before the snapshot is eligible for the airdrop, with allocations ranging from a minimum of 25 ZRO to a maximum of 5,000 ZRO, based on the amount of protocol fees paid.

A request for proposal (RFP) is a project funding announcement posted by a business or organization for which companies can place bids to complete the project. https://t.co/oTKOgA58N2

— Investopedia (@Investopedia) June 19, 2024

As the distribution progresses, any unclaimed tokens at the end of the claim period will be redistributed to those who did claim, based on the Core allocation. Bryan Pellegrino emphasized this in a recent social media post: “All unclaimed tokens at end of claim period will be redistributed to those who did claim based on [LayerZero] Core allocation.”

This structured and well-planned airdrop is set to significantly impact the LayerZero ecosystem, promoting growth and engagement within the community while ensuring fair and equitable distribution of its native token, ZRO.

ABOUT THE AUTHOR See More

Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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