On December 8th, LayerZero, a cross-chain solution, officially confirmed that they will be releasing their token in the near future, expected to happen in the first half of 2024.
LayerZero stated that their solution was initially built to support a native token from the beginning, which was explicitly mentioned in their project’s source code. However, a lack of communication with the community had led to misunderstandings and rumors, even to the extent of incorrect information about LayerZero tokens appearing on Binance.
Furthermore, the project revealed that they would allocate 3 million USD worth of ZRO tokens to the early community participants. According to insider information, the conditions for receiving this airdrop are quite straightforward: users’ addresses must have conducted over 10 transactions on the Ethereum mainnet from Q1/2023 to Q3/2023, and the exact distribution amount will be based on wallet activity. However, these are currently speculative conditions, as the official project team has not yet provided specific details about the airdrop.
LayerZero is a protocol that offers cross-chain infrastructure supporting various decentralized applications (DApps) across blockchains that can interact in a multi-chain environment (Omnichain).
In April, LayerZero successfully raised over 120 million USD, increasing its valuation to 3 billion USD. With this funding, the protocol is planning to integrate cross-chain functionality into the Web3 ecosystem and collaborate with Radix to bring cross-chain capabilities to the Radix Babylon network.