Claims for LayerZero\u2019s airdrop went live at 7 a.m. ET on Friday.<\/p>\n
LayerZero\u2019s highly-anticipated ZRO token is trading at a ten-figure market cap 30 minutes after launching.<\/p>\n
On June 20, LayerZero launched claims for its long-awaited token. Less than one hour later, ZRO is changing hands for $4.40, equating to a $1.1 billion market cap and a fully-diluted valuation of $4.3 billion, according to CoinGecko.<\/p>\n
The token is yet to suffer the wholesale dumping typically associated with freshly airdropped coins, having shed just 4% from its initial trading price so far.<\/p>\n
ZRO allocations became claimable from 7 am, Eastern Standard Time, with 23.8% of ZRO\u2019s supply earmarked for the drop.<\/p>\n
“ZRO Claim Is Live,\u201d LayerZero tweeted<\/a>. \u201cSupported Chains: Ethereum, Arbitrum, Optimism, Base, Polygon, BNB Chain, and Avalanche.”<\/p>\n Claims went live one day after Bryan Pellegrino, CEO of the LayerZero Foundation, revealed that 1.28 million<\/a> of LayerZero\u2019s 6 million lifetime users would be eligible for the ZRO airdrop, making it among the most widely distributed token generation events in crypto.<\/p>\n Roughly one million addresses suspected of sybil activity<\/a> were also excluded.<\/p>\n Users and developers can claim 8.5% of ZRO\u2019s supply now, with 5% going to core contributors, 3% to ecosystem projects that have submitted requests for proposals (RFP) requesting an allocation, and 0.5% to its community pool.<\/p>\n The remaining tokens are set for gradual distribution over three years, along with retroactive distributions every 12 months.<\/p>\n The LayerZero Foundation introduced<\/a> a novel claiming mechanism called ‘Proof-of-Donation’ for airdrop recipients. To claim the airdrop, users need to donate $0.1 in USDC, USDT, or ETH per ZRO token to the Protocol Guild<\/a> \u2014 a collective funding mechanism for Ethereum developers.<\/p>\n This initiative is expected to raise approximately $18.5 million to support the development of Ethereum.<\/p>\n “Protocol Guild and Ethereum’s core developers have been fundamental to LayerZero’s growth, driving the proliferation of the EVM, Ethereum’s L2-centric roadmap, and the broader crypto ecosystem,\u201d LayerZero Foundation said<\/a>. \u201cBy donating to Protocol Guild, eligible recipients show long-term alignment with the LayerZero protocol and a commitment to the future of crypto.\u201d<\/p>\n The move comes as an increasing number of companies and protocols are pledging donations to support the Protocol Guild. In January, EtherFi pledged<\/a> 1% of its supply to support Ethereum development, and VanEck had also committed<\/a> 10% of profits generated from its pending spot Ether exchange-traded fund<\/a>.<\/p>\n ZRO tokenholders will also receive voting<\/a> privileges regarding the LayerZero protocol\u2019s fee switch.<\/p>\nWidespread distribution<\/h2>\n
Proof of Donation<\/h2>\n