LayerZero Foundation is making waves in the crypto world with the launch of its highly anticipated ZRO token airdrop. Starting today, June 20, at 7 a.m. ET, eligible participants can claim their tokens, marking a significant milestone for the cross-chain interoperability platform.
Quick Take
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The highly anticipated ZRO token airdrop begins on June 20 at 7 a.m. ET, allowing eligible participants to start claiming their tokens. The airdrop eligibility checker is live, so users can check if they can claim ZRO airdrops.
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The ZRO token has a fixed total supply of 1 billion. Of this, 38.3% is allocated to users, developers, and community members, emphasizing the foundation’s commitment to rewarding its ecosystem.
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To ensure a fair distribution, LayerZero has implemented stringent anti-Sybil measures. These include self-reporting, bounty-hunting, and collaboration with on-chain security firms to prevent Sybil attackers from unfairly claiming tokens.
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A significant portion of the ZRO supply, 32.2%, is allocated to strategic partners, while 25.5% is reserved for core contributors. Both allocations are subject to a three-year vesting period, ensuring long-term commitment and stability within the LayerZero ecosystem.
What Is LayerZero (ZRO)?
LayerZero is a groundbreaking protocol enabling seamless cross-chain communication without a third party. The company gained prominence with a $120 million Series B funding round, valuing it at $3 billion. LayerZero’s innovative approach and significant community engagement make its ZRO token a highly anticipated addition to the crypto market.
ZRO token holders will gain governance rights, allowing them to vote on the LayerZero protocol’s fee switch. An immutable voting contract will enforce a public on-chain referendum every six months, ensuring transparency and community involvement in decision-making.
Read more: What Is LayerZero (ZRO) Cross-Chain Interoperability Protocol?
ZRO Token Generation Event (TGE)
The official Token Generation Event (TGE) is scheduled for June 20, with major exchanges like KuCoin set to list the ZRO token. These listings will provide liquidity and wider access to the tokens, enhancing their market presence.
LayerZero Airdrop Details
The launch of ZRO signifies a pivotal step for LayerZero, transforming it into publicly owned, immutable infrastructure. With a fixed total supply of 1 billion ZRO tokens, 38.3% will be distributed to the community, developers, and users.
LayerZero tokenomics: ZRO supply schedule | Source: LayerZero Foundation
On the first day of the airdrop, 8.5% of the total supply, or 85 million ZRO tokens, will be available for eligible participants. The remaining community-allocated tokens will support future distribution programs and ecosystem growth.
How to Check If You Are Eligible for LayerZero (ZRO) Airdrop?
LayerZero's eligibility checker, released on June 19, allows users to verify their airdrop status. According to Bryan Pellegrino, CEO of LayerZero Labs, 1.28 million wallets qualify for the airdrop. However, over six million unique wallet addresses have interacted with the LayerZero protocol.
To ensure a fair distribution, LayerZero implemented measures to filter out Sybil attackers—users who create multiple fake accounts to claim more tokens. These measures include self-reporting, bounty-hunting, and collaboration with on-chain security firms.
Anti-Sybil Measures
Executing the airdrop fairly posed significant challenges due to LayerZero’s popularity and extensive use. The foundation emphasized that the distribution, while not perfect, rewards durable users aligned with the protocol's future.
LayerZero's anti-Sybil measures aim to exclude addresses associated with Sybil attacks from the airdrop. Identified Sybil attackers will lose most of their expected tokens, ensuring fairer distribution to legitimate users. Pellegrino highlighted that nearly 10 million tokens that would have gone to Sybil addresses are now redirected to genuine users.
As the airdrop approaches, LayerZero continues refining its Sybil hunter tagging process. Eligible wallets might see adjustments in their allocations based on these refinements. Users are advised to use the eligibility checker without connecting their wallets, a security measure to protect against online scams before the actual claim begins.
Strategic and Community Allocations
LayerZero has reserved 15.3% of the ZRO supply for future distributions to users, protocols, infrastructure builders, and community members through methods such as Requests for Proposals (RFPs). An additional 32.2% will go to strategic partners, and 25.5% will be allocated to core contributors. Both categories are subject to a three-year vesting period, with a one-year lock and a monthly unlock over the subsequent two years.
The foundation also repurchased 40 million ZRO tokens, pledging them to the community bucket.
Conclusion
LayerZero’s ZRO token airdrop marks a significant milestone in the protocol's journey toward decentralization and community ownership. With strategic distributions, strict anti-Sybil measures, and major exchange listings, the airdrop sets the stage for ZRO's impactful entry into the crypto market.
Stay updated with the latest developments by following LayerZero's official channels as the ZRO token distribution unfolds.
