The Block Crypto News18 minutes ago

Published on July 04, 2024 18:31 GMT+00:00edited on July 04, 2024 18:34 GMT+00:00

The LayerZero airdrop briefly boosted the number of messages sent on the cross-chain communication network as users claimed their ZRO. The airdrop has been frequently discussed because of the sybil prevention that went into determining allocations, as well as the $0.10 donation to the Protocol Guild necessary to claim each token.

While the launch of the ZRO token didn’t seem to help the LayerZero network recover from the downturn in activity after it was announced the airdrop snapshot had been taken, a different protocol was able to profit.

Arbitrum made $3.38 million in revenue on June 20, the day ZRO airdrop claims began. This was the rollup’s highest day of revenue ever and a sharp turnaround compared to the typically tens of thousands in dollars the network has been making …