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LayerZero’s ZRO Token Airdrop: New Claim Mechanism

LayerZero is set to launch its much-anticipated ZRO token on Thursday. This new token introduces an innovative claim mechanism, requiring recipients to make a small donation to unlock their airdrop allocation.

Mandatory Donations and Matching Contributions

To claim their ZRO tokens, eligible recipients must donate 10 cents worth of ether (ETH) or a stablecoin for each token. LayerZero Foundation announced, “By donating to Protocol Guild, eligible recipients show long-term alignment with the LayerZero protocol and a commitment to the future of crypto.” This small donation is directed to the Protocol Guild. Additionally, the LayerZero Foundation will match all donations up to $10 million.

Introducing the “Proof-of-Donation” Mechanism

This “proof-of-donation” mechanism marks the first time a project requires users to donate to claim tokens. While crypto donations are common and appreciated among developers, they are typically voluntary and not a requirement for airdrop participation. Early reactions from the crypto community have been mixed, with some users disagreeing with the mandatory donation, while others believe it will support ongoing development.

Details of the Airdrop and Distribution

Airdrops distribute tokens to project users, usually based on their blockchain interactions or related product usage. LayerZero’s airdrop is one of the most high-profile events of 2024, with 85 million ZRO tokens set for distribution on Thursday. Over 50% of the supply is reserved for investors and core contributors, subject to a three-year vesting period, a one-year lock, and a monthly unlock over the next two years.

ZRO Token Pre-Market Trading and Launch

Ahead of its Thursday launch, ZRO trades at $4.27 in pre-market futures trading. The token is scheduled to go live for trading on major crypto exchanges, including Binance, at noon UTC.

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Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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