LayerZero Foundation announced that the requests for the airdrop event of its native token ZRO will open today at 13:00. This process follows the foundation’s release of an eligibility checker for users yesterday. The foundation indicated in a blog post that the launch of ZRO is a significant step for the protocol. The platform’s native token has a fixed supply of 1 billion, with 38.3% allocated to its users, developers, and community members.
The Process Begins for LayerZero
On the first day of the distribution, eligible participants can claim 85 million ZRO tokens, representing 8.5% of the total 1 billion supply. The remaining tokens allocated to the community will be reserved for future distribution programs and ecosystem growth.
LayerZero plans to distribute 32.2% of the total token supply to strategic partners and 25.5% to main participants; both are subject to a one-year lock-up and a three-year vesting period with monthly unlocks over the following two years. Additionally, it claims to have repurchased 40 million ZRO tokens, committing them to the community group.
LayerZero Labs CEO Bryan Pellegrino stated yesterday that they identified a total of 1.28 million wallets eligible for airdrop claims. During this process, more than six million unique wallet addresses interacted with the LayerZero protocol.
Details on the Matter
The LayerZero Foundation stated that conducting the airdrop event correctly is challenging, noting that LayerZero is one of the most used and worked-on protocols of all time. They shared the following statement on the matter:
“The ZRO distribution is not perfect, but we believe it is right; we want to reward regular users to align them maximally with the LayerZero protocol in the future.”
The foundation specified that airdrop eligibility is determined by three main factors: Sybil filtering, Request for Proposal (RFP), and eligibility criteria. LayerZero took strict measures to eliminate token distributions to Sybil attackers who created multiple fake accounts to unfairly gain a larger share of the distributed tokens. Measures included personal reporting, bounty hunting, and collaboration with on-chain security firms.
LayerZero stated that it distributed 3% of the total supply to 211 approved RFPs, which are unique proposals aimed at improving the protocol. Subsequently, every user who transacted on the protocol before the snapshot was eligible for the airdrop, with allocations ranging from a minimum of 25 ZRO to a maximum of 5,000 ZRO, weighted according to the amount of protocol fees paid.
