LayerZero's ZRO token airdrop goes live

06/20/2024

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Today marked the commencement of the ZRO token claims by LayerZero, incorporating a unique twist where participants need to contribute a dime for every token they desire to claim. LayerZero unveiled this novel approach in an X post, integrating the token claims with contributions towards the Protocol Guild. This move aims to foster a long-term dedication amongst participants towards the LayerZero protocol.

The creators of LayerZero highlighted this contribution-based token claim process as a testament to their innovative thinking. They believe that by making these donations, recipients exemplify their dedication and forward-thinking commitment towards the LayerZero ecosystem and the broader horizon of blockchain technology.

LayerZero has pledged to double contributions up to a breathtaking $10 million, introducing the first-ever compulsory donation requirement for token airdrops within the cryptocurrency realm.

The crypto community has expressed mixed feelings about this initiative. While some critics are not in favor of the forced contribution, others commend the effort to nurture development within the sector. A total of 85 million ZRO tokens are set for distribution, with a significant portion earmarked for investors and primary contributors, bound by a three-year vesting period.

A day prior, LayerZero unveiled an eligibility checker for the airdrop, which has since faced critique from the DeFi community. The primary grievances aired involve modest allocations despite substantial utilization of the platform. It seems preferences were given to holders of specific NFT collections like Pudgy Penguins and Kanpai Pandas over others with high transaction volumes or ownership of Gh0stly Gh0sts NFTs.

Around 1.28 million wallets meet the eligibility criteria for the airdrop, with an initial 8.5% of a total 23.8% community allocation set for immediate distribution. The remainder will be gradually handed out over an ensuing three-year period, fueled by various incentives and reward mechanisms.

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