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.
