Home » LayerZero confirms the imminent release of its token – Airdrop in sight?

LayerZero confirms the imminent release of its token – Airdrop in sight?

by Tim

The cross-chain interoperability protocol LayerZero has just announced the imminent arrival of its token, which will probably bear the ticker ZRO. As the airdrop season gets underway, will LayerZero give us the same surprise?

Airdrop coming soon for LayerZero token?

As with many projects, rumors have surrounded the LayerZero interoperability protocol as to a possible future token, a question that often involves the hypothesis of an airdrop. Well, LayerZero has just confirmed the imminent arrival of its token through a press release on X :

“LayerZero has always been built with the possibility of having a native token within the protocol, as shown by the immutable code launched on day one. We will now unequivocally declare that there will be a LayerZero token. Its distribution is something we’re committed to achieving, and we expect it to happen in the first half of 2024. “

So, according to this short clarification aimed at responding to the “lack of communication on this subject”, the LayerZero token, which will most likely carry the ticker ZRO, should see the light of day during the first half of next year. Although the term airdrop is not explicitly mentioned, it’s quite likely that the “distribution” referred to in the protocol refers to this.

Effectively, as the press release mentions, it would make sense for LayerZero to adopt a native token to support the growth of its ecosystem. It’s worth noting that, should the airdrop take place, it’s quite likely that the snapshot (definitive recording of eligible addresses) has already been taken.

Last April, LayerZero raised $120 million in a financing round that also saw the participation of Circle Ventures, a16z and Sequoia Capital. This injection of funds catapulted the company’s valuation to $3 billion. Bryan Pellegrino, co-founder and CEO of LayerZero Labs, declared at the time that this capital injection would not be used for an airdrop, but exclusively for the company’s development.

In case the snapshot for a possible LayerZero airdrop hasn’t yet been taken, we suggest you read our dedicated guide to try and qualify.

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