LayerZero’s ZRO token faces mixed reactions as sybil crackdown continues | Headlines | News | CoinMarketCap
06/27/2024 02:42We talked a few weeks ago about the LayerZero airdrop, and we are at the crescendo. LayerZero, the cross-chain communication and messaging protocol, …
We talked a few weeks ago about the LayerZero airdrop, and we are at the crescendo.
LayerZero, the cross-chain communication and messaging protocol, launched its native token, $ZRO, last week. With a total supply of 1 billion, the token opened at $4 billion FDV before briefly hitting a high of $4.7 billion FDV. Since then, it has trended down and, at the time of writing, is at a $3 billion FDV, on par with competitor Wormhole ($W), which launched its token earlier this year.
The details for the $ZRO token generation event (TGE) are as follows: 25% of the tokens unlocked on Day 1, with 8.5% available immediately at the TGE, 11.0% reserved for future snapshots and Requests for Proposals (RFPs), 5% allocated to the LayerZero Foundation, and 0.5% distributed to community members.
The …