The LayerZero team, developers of a blockchain protocol, announced the upcoming launch of their own token, accompanied by a $3 million airdrop. The exact launch date has not yet been announced, but it is expected to happen in the first half of 2024, as published in the project's official Twitter account.
The creation of their own token was embedded in the protocol's architecture from the beginning. As the developers note, LayerZero was designed with the integration of its own token in mind, as evident from the original code. In their Twitter post, the team representatives emphasized that the community had long discussed this possibility but lacked sufficient information.
The project's token, named ZRO, is already available for pre-registration, which will end on December 15th. As part of the airdrop, tokens totaling $3 million are planned to be distributed among community members. All Ethereum users who have conducted more than 10 transactions are invited to participate in the airdrop.
LayerZero is focused on facilitating interaction between different blockchains, using oracle networks for message transmission and creating cross-chain applications. LayerZero's partners include well-known decentralized services such as SushiSwap, Stargate Finance, Radiant Capital, and Trader Joe.
In April of this year, LayerZero attracted significant investments of $120 million in a Series B funding round, valuing the project at $3 billion. Among the key investors in the latest funding round were Andreessen Horowitz, Sequoia Capital, and Samsung Next.
