Key Points
- LayerZero Foundation initiates ZRO token airdrop and exchange listings.
- The ZRO token launch is a crucial step towards making LayerZero a publicly-owned, immutable infrastructure.
The ZRO token airdrop by the LayerZero Foundation began today at 7 a.m. ET.
This followed the successful launch of its airdrop claim checker page, which allowed users to confirm their eligibility.
Token holders are given the unique advantage of voting on the LayerZero protocol’s fee switch, with a voting contract enforcing a public on-chain referendum every six months.
Distribution and Future Plans
The foundation announced that 38.3% of the total fixed supply of 1 billion tokens would be distributed among users, developers, and community members in a blog post.
On the first day of distribution, 8.5% of the total supply, equivalent to 85 million ZRO tokens, will be available for eligible participants.
The remaining tokens allocated to the community will be reserved for future distribution programs aimed at promoting ecosystem growth.
Additionally, 15.3% of the overall supply is set aside for future distributions to users, protocols, infrastructure builders, and community members through future snapshots and other methods such as Requests for Proposals (RFPs).
The foundation has also allocated 32.2% of the total token supply for strategic partners and 25.5% for its core contributors, subjected to a three-year vesting period with a one-year lock and a monthly unlock over the following two years.
Furthermore, the foundation has announced the repurchase of 40 million ZRO tokens, which are pledged to the community bucket.
The ZRO token launch is seen as a transformative step towards establishing LayerZero as a publicly owned, immutable infrastructure.
Bryan Pellegrino, CEO of LayerZero Labs, stated that around 1.28 million wallets are eligible for airdrop claims, out of over six million unique wallet addresses that have interacted with the LayerZero protocol.
Exchange Listings
Along with the airdrop, the ZRO token launch has attracted major crypto exchange platforms.
The world’s leading exchange, Binance, has announced ZRO listing and open trading for ZRO/BTC, ZRO/USDT, ZRO/FDUSD, and ZRO/TRY pairs at 12:00 UTC on June 20.
Users can start depositing the token in preparation for trading, with withdrawals opening on June 21.
In addition, Upbit, South Korea’s largest exchange, announced ZRO listing in its KRW, BTC, and USDT markets, with trading set to begin at 21:00 local time on June 20.
Similarly, OKX and Bithumb have also confirmed their plans to list the token.
The launch of this airdrop and the subsequent listings represent a significant milestone for LayerZero, reinforcing its standing in the decentralized finance sector.
With strong community support and strategic alliances, the token is expected to have a promising start.
