LayerZero Airdrop Snapshot Completed: ZRO Token Coming Soon

LayerZero Airdrop Snapshot Accomplished: ZRO Token Coming Soon

In a serious step in opposition to launching its native token, ZRO, bound-chain interoperability protocol LayerZero efficiently done its first airdrop snapshot on Can also honest 1. The snapshot marks a truly critical stage within the protocol’s development and has generated appreciable excitement all the arrangement thru the DeFi team.

LayerZero Labs confirmed the completion of the airdrop snapshot by the usage of an X post on Can also honest 2. The snapshot will resolve the allocation of ZRO tokens to eligible people upon the dependable starting up, expected to happen within the first half of of 2024.

More knowledge coming quickly. pic.twitter.com/NyMpJFVg9S

— LayerZero Labs (@LayerZero_Labs) Can also honest 2, 2024

“LayerZero can have a native token all the arrangement thru the protocol, and its distribution is expected to happen within the first half of of 2024,” the announcement read.

Anticipation for the ZRO token starting up is already evident, particularly on decentralized exchanges. On Hyperliquid, the field’s superb perps DEX, a perpetual futures contract for ZRO, is currently procuring and selling at $8.4. This implies a totally diluted valuation of roughly $17 billion for the drawing near near token.

Potential Implications of the LayerZero Airdrop

While the LayerZero airdrop presents a thrilling opportunity for the protocol and its team, it raises considerations in regards to the aptitude affect of Sybil customers. These people claim airdrops with multiple cryptocurrency wallets totally to sell the rewards with out any design of long-time interval engagement with the protocol. This phrase can lead to a pointy decline within the price of the newly airdropped token following its starting up.

Several previous airdrops had been tormented by airdrop hunters. In February, it was printed that the eligibility checklist for Starknet’s airdrop was predominantly amassed of Sybil customers, with 701,544 addresses out of 1.3 million linked to their bid. Equally, in March 2023, 1,496 wallets belonging to airdrop hunters accumulated over $3.3 million price of tokens from the Arbitrum (ARB) airdrop, contributing to a subsequent brand decline.

Source : cryptonews.com