The LayerZero omnichain protocol asks users applying for airdrop ZRO to pay for token branding through the Proof-of-Donation mechanism.
Today LayerZero is introducing a new claiming mechanism called Proof-of-Donation, which will result in ~$18.5 million donated to @ProtocolGuild, a collective funding mechanism for Ethereum developers.
Protocol Guild and Ethereum's core developers have been fundamental to… pic.twitter.com/YPN7wzsqbJ
According to the LayerZero Foundation, participants must donate $0.1 in USDC, USDT or ETH for each governance token. The coin stamp is open from June 20 to September 20.
The funds raised will go to the Protocol Guild, a structure to finance the developers of the main Ethereum tier. It is expected that up to $18.5 million will be raised in this way. The LayerZero Foundation will allocate another $10 million.
"By making donations to Protocol Guild, users demonstrate a long—term commitment to the LayerZero protocol and support for the future of the crypto industry," the statement said.
The initiative of the project with mandatory donations was met ambiguously in the community. The developer of Yearn.Finance, under the pseudonym banteg, compared it to "glorified ICOs".
mandatory donations sound more like a glorified ico.
and stop bulk funding protocol guild, it's been wildly successful at attracting funds, find other smaller initiatives to support.
According to him, Protocol Guild is quite successful at fundraising and does not need such methods.
During the LayerZero airdrop, which started on June 19, 85 million ZRO or 8.5% of the total issue of 1 billion coins will be distributed among users. Brian Pellegrino, CEO of LayerZero Labs, announced that 1.28 million wallets have been qualified for distribution.
There are 250 million tokens in market circulation. According to CoinGecko, over the past 24 hours, the price of ZRO has fallen by 18.6%, the asset is trading at around $3.6.
The minute chart of the ZRO/USDT of the Bybit exchange. Data: TradingView.Recall that against the background of airdrop, a number of major exchanges, including Binance, announced the preparation of the ZRO listing.