LayerZero (ZRO) will be listed on major exchanges and 240 million ZRO airdrops will be issued

According to reports, the full-chain protocol LayerZero will open the airdrop of its native token ZRO tomorrow (June 20), and qualified users can receive the corresponding amount of ZRO for free.

At the same time, many well-known cryptocurrency exchanges around the world have issued announcements stating that ZRO will be listed tomorrow. These exchanges mainly include OKX, Bybit, HXT, KuCoin, Bitfinex, etc.
In addition, ZRO is currently conducting pre-market trading on multiple exchanges, such as Gate.io, Bitget, etc.

ZRO Issuance Details:

• ZRO/USDT Spot Trading Opening Time: June 20, 8:00 PM (UTC+8)
• ZRO Withdrawal Opening Time: June 21, 6:00 PM (UTC+8)
• Total Issuance: 1,000,000,000
• Contract Address: 0x6985884c4392d348587b19cb9eaaf157f13271cd

What is LayerZero

LayerZero is a full-chain interoperability protocol designed for delivering lightweight messages across chains.
It is an open source, non-tamperable information transfer protocol. It is a "blockchain of blockchains" that allows other blockchain networks to communicate directly in a trustless manner, aiming to promote full-chain, interoperable applications. of creation.

LayerZero financing status

LayerZero has raised a total of approximately $240 million in three previous rounds of funding.

Among them, Binance, Sequoia Capital、FTX and other well-known venture capital companies are leading the way.
After completing a $120 million Series B round of financing, LayerZero increased its valuation from $1 billion to $3 billion.

LayerZero airdrop

Aribrum airdrop

Following LayerZero’s high-profile Aribrum airdrop in March 2023, LayerZero’s cumulative transaction volume tripled within a month, with nearly 5 million transactions executed through LayerZero in approximately 30 days.

ZRO airdrop expectations

Since LayerZero Labs tweeted on December 8, 2023, confirming that distributing tokens to users is part of its roadmap.
News about the LayerZero airdrop has attracted much attention. This airdrop will be one of the largest airdrops in history.
LayerZero later confirmed the airdrop in a post on May 1, when it took a snapshot of user wallet addresses and past activity. LayerZero described the move as “Snapshot #1,” hinting that additional snapshots and token distributions may occur in the future.

ZRO airdrop distribution status

According to LayerZero Foundation CEO Bryan Pellegrino, 1.28 million wallets are eligible to participate in the popular cross-chain interoperability protocol’s long-awaited token generation event.
Bryan Pellegrino also stated that 23.8% of the token supply is earmarked for LayerZero users and developers. He added that when the airdrop goes live, 8.5% of the aforementioned tokens will be available for claim, with 5% going to core contributors, 3% to ecosystem projects that have submitted a request for proposal (RFP) requesting allocation, and 0.5% to Its community pool.
Remaining tokens will be distributed gradually over three years, in addition to being distributed retroactively every 12 months.
However, Bryan Pellegrino noted that the exact number of eligible wallets may change as the project finalizes the removal of wallets engaged in witch farming. Sybiling describes when a single entity uses multiple wallets to farm activity on the protocol to increase its airdrop allocation.

LayerZero airdrop causes dissatisfaction

The number of wallets participating in this ZRO airdrop is as high as 1.28 million, and nearly 24% of the 1 billion ZRO coins issued will be distributed.
However, it is worth noting that the distribution problem of this airdrop may cause LayerZero to lose a group of loyal users.

As the airdrop allocation was spread among the LayerZero user group, most users publicly expressed their dissatisfaction with the amount that should be allocated, and stated that as old users they would no longer use LayerZero in the future.

Be wary of investing in ZRO

The news of LayerZero’s airdrop and its listing on major exchanges tomorrow has attracted widespread attention, and investors need to be vigilant about investing.
ZKS, which is similar to ZRO, was previously launched on June 17 and received great attention before it went online. Attracting investors to enter the market.

Unexpectedly, the market situation did not go up as expected, but became extremely bad. After a brief peak, it fell to the bottom instantly, leaving many investors bleeding.
In the past, such VC projects usually had foresight and long-term planning, the project lasted for a long time, and there was no rush to increase the price after going online.

But now, the situation is very different. They seem to be short-sighted and only care about resting on their laurels, and start cutting leeks as soon as they go online.
It seems that a large number of airdrops are giving back to users, but in fact they are attracting users to get further involved.