The LayerZero Foundation will distribute a total of 85 million ZRO of the LayerZero omnichain project starting at 14:00 (Kiev/Moscow).
On June 19, co-founder and CEO Brian Pellegrino announced that 1.28 million wallets were qualified for airdrop. Over 6 million unique addresses interacted with the protocol.
In the final model, three times as many tokens are required for early transactions. Those who interacted with LayerZero after the snapshot will receive an additional 10 ZRO per operation. For transfers without cost, the distribution volume has been reduced by 80%.
"The launch of ZRO [...] will turn it into an immutable infrastructure at the disposal of the community," the message says.
The offer of the platform's native token is 1 billion, 38.3% of which will be distributed among users, developers and community members.
On June 20, the first day of the airdrop, 8.5% of the total volume of 1 billion, or 85 million ZRO, will be available to selected participants.
The rest of the tokens for the community will be reserved for future distribution and ecosystem development programs.
Pellegrino provided additional details:
For clarity since there seems to be a lot of confusion, of the 25% day 1 unlocked, 20% is directly going to users/protocols -- direct.
8.5% now on claim
0.5% for community (forward looking)
11% for upcoming STIP + more retroactive distributions
5% for foundation for ecosystem,… https://t.co/lBC4Wq0pEj
Of the 25% of coins unlocked on the first day, 20% go directly to users/protocols.
Distribution structure:
8.5% — for branding;0.5% — for the community (for the future)11% — more retroactive distributions for the upcoming STIP+5% — for the fund for ecosystem development, growth, grants and liquidity provision.Of the 20% intended for the community, none of the tokens will ever be moved, unless it is specifically provided for purposes. The latter will be announced in advance. In this case, tokens will be distributed either through the RFP protocol (STIP), focused on the future, or retroactively (as in this TGE).
Tokenomics
In general, tokenomics looks like this:
38.3% belongs to the LayerZero community, namely users, developers and community members;32.2% — to strategic partners — investors and consultants — with three-year vesting;25.5% — to current and future team members, also with a three-year lockout period;4.0% are redeemed tokens that are placed at the disposal of the community.Data: LayerZero.The LayerZero Foundation recognized the difficulty of a "proper" airdrop. The organization referred to the fact that LayerZero is one of the most used projects among users and "farmers" of all time.
"Although the distribution is not perfect, we consider it correct. The remuneration of long—term users is carried out for maximum binding to the protocol in the future," the message says.
The organization noted that the qualification criteria for participation in the distribution are determined taking into account three main factors:
sybil filtration;request for proposals;compliance criteria.LayerZero will distribute 3% of the total number of tokens among 211 approved RFPs.
After that, each user who made a transaction before the snapshot is entitled to receive from 25 ZRO to 5000 ZRO, weighted by the amount of commissions paid.
"All unclaimed tokens will be redistributed among the team at the end of the stamp," Pellegrino explained.
Control of commissions
ZRO owners will always control the accrual of commissions in the protocol.
An immutable voting contract holds a public on-chain referendum every six months, allowing token holders to vote on whether to activate or deactivate the collection switch.
LayerZero may charge a fee equal to the total cost of verifying and executing a cross-chain message. For example, if the DVN and executors configuration selected by the application charges $0.01 per transaction between Arbitrum and Optimism, LayerZero may also charge a fee of $0.01.
If the switch is activated via management, the treasury contract accumulates the fee on the local chain and burns it. This mechanism, similar to EIP-1559, effectively distributes fees among ZRO holders.
Listing
A number of major exchanges, including Binance, announced the addition to the list of traded assets.
Binance will list LayerZero (ZRO) with seed tag. https://t.co/MxA9zlOD1V
— Wu Blockchain (@WuBlockchain) June 20, 2024The Whales Pro premarket platform at the time of writing shows an indicative ZRO price of $4.38. At its peak, the cost exceeded $6.
Data: Whales.Pro .Recall that in April 2023, LayerZero Labs raised $120 million based on the results of a Series B financing round with an estimate of $3 billion.
In December, the project team announced airdrop without revealing any details. CoinGecko experts have included the distribution of LayerZero tokens among the most anticipated in 2024.