LayerZero is an interchain communication protocol. For several months, users have been eagerly awaiting the launch of a governance token and the accompanying airdrop. Finally, the wait comes to an end. Indeed, the ZRO token airdrop will take place this Thursday, June 20 at 12 p.m., according to recent announcements.
The big day has arrived for the LayerZero airdrop
The last few weeks have been full of announcements for LayerZero. At the end of last week, the protocol unveiled the LayerZero Foundation, as well as the airdrop datefixed to Thursday June 20.
Subsequently, the Foundation deployed a eligibility checker allowing users to find out their allocation for the airdrop, accessible via the site: https://www.layerzero.foundation/eligibility.
Finally, a few hours before the official launch of the ZRO token, the LayerZero Foundation published an article covering the latest details of this launch.
Thus, we finally learn the exact time of the opening of the airdrop claim, namely 1:00 p.m. French time.
The Foundation also presents the uses of the ZRO token. Thus, it will allow its holders to participate in the governance decisions of the protocol.
“ZRO voting is simple: standalone, on-chain, and immutable – allowing holders to turn the protocol’s fee switch on or off by simply sending a signal from the chain they hold ZRO on. »
ZRO Tokenomics
In its publication, the Foundation also presents the tokenomics of the ZRO token. Indeed, we have had little information on this subject until now.
In total, the ZRO token will have a supply of 1 billion tokens. These will be distributed as follows:
- 38.3% to the LayerZero communitywhether they are users or developers;
- 32.2% to strategic partnersincluding investors and advisors;
- 25.5% will go to the LayerZero team ;
- 4% will be used to redeem tokens on public markets.
Obviously, most of these allocations will be subject to a period of vesting.
In practice, the 38.3% allocated to the community will be via various initiatives. Thus, 8.5% of the ZRO will be distributed this Thursday, June 20 via the community airdrop.
15.3% of ZRO is reserved for future distribution to users, protocols, infrastructure builders and community members.
Finally, 14.5% of the ZRO intended for the community will be managed by the Foundation to finance the growth of the ecosystem. Probably via grant campaigns for protocols that integrate LayerZero.
Upstream of its airdrop, LayerZero launched a whistleblowing program to counter sybils wallets. Thus, users who denounce these wallets could obtain 15% of the allocation intended for them. According to the Foundation, this saved 10 million ZRO.
Software and distributed systems engineer by training, passionate about cryptos since 2013. Jack of all trades, between mining and development, I am always looking to learn more about the world of cryptocurrencies and to share the fruit of my research through my articles .
