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LayerZero talked about the details of the airdrop

The LayerZero Foundation team has released details of the airdrop and tokenomics.

The total supply of ZRO tokens is 1 billion. 38.3% of this amount was allocated to the LayerZero community. Another 32.2% with linear unlocking for three years will be received by strategic partners, 25.5% – by current and future team members. There are also 4% of “repurchased tokens” left, which will be given to the community.

It is known that 8.5% of the 383 million ZRO that was allocated to the community will be received by participants applying for the airdrop. Another 15.3% was allocated to future rewards for protocols and developers. Also, 5 million ZRO will be divided among Discord members.

About 14.5% of ZRO will be managed by the LayerZero Foundation, these assets will be used for ecosystem growth, grants and liquidity.

In addition, the team talked about the airdrop criteria. The report said that approximately ZRO 10 million was “saved” through the “hunt for the sybils” campaign. 3% was divided between protocols based on LayerZero, another 5.5% will be used to reward participants for their activity.

The project team added that the airdrop was distributed based on the paid commissions in the protocol. The minimum reward is 25 ZRO, the maximum is 5000 ZRO.

Also, for fair distribution, two points were taken into account:

  • Rewards for transactions under $1 and “unnecessary” NFT tranches have been reduced by 80% to prioritize genuine participation;
  • early users and those who made transactions after the snapshot received tokens based on multipliers.

Users can receive their tokens on June 20, 2024 at 15:00 Moscow time. LayerZero Labs CEO Brian Pellegrino reportedthat all unclaimed tokens will be redistributed among other applicants.

Note that recently the Binance crypto exchange announcedwhich will list ZRO.


Source: Cryptocurrency

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