- LayerZero has officially confirmed its native token launch in the first half of 2024.
- The announcement triggered a surge in metrics for LayerZero ecosystem projects.
- The native tokens of Stargate and Radiant Capital have seen a rapid 10% increase in value.
In a significant crypto development, blockchain interoperability protocol LayerZero has officially confirmed plans to launch its native token in the first half of 2024. The blockchain interoperability protocol, known for its groundbreaking technology, is set to reward users through an airdrop, sparking renewed interest in its ecosystem projects.
LayerZero has always been built with the ability to have a native token within the protocol, as can be seen in the immutable code launched on day 1. We’ve heard the community discussion over the last few months and the lack of clear communication around this. We’ll state now in…
— LayerZero Labs (@LayerZero_Labs) December 7, 2023
Following the announcement, various projects within the LayerZero ecosystem experienced a surge in metrics, indicating a positive market response. Notably, tokens of projects like Stargate Finance and Radiant Capital, both leveraging LayerZero’s technology, witnessed a sudden increase in value. At press time, Radiant Capital (RDNT) was up 6% to trade at $0.2848 while Stargate Finance was up 3% to trade at $0.5656.
The price uptick for the two tokens showcases the potential impact of airdrops on the growth and value appreciation of associated projects.
ZRO token distribution registration is Live
LayerZero’s token, ZRO, is expected to be distributed through an airdrop, a popular method rewarding users for their early adoption and participation in the protocol’s development.
According to a tweet from LayerZero, the registration for the token’s distribution has been opened and will last until December 15th. The distribution amount will be based on wallet activity.
Users are anticipated to be rewarded for interacting with LayerZero-based platforms. Common activities such as borrowing, trading, or lending on these platforms may contribute to eligibility for the airdrop. However, the specifics of LayerZero’s airdrop strategy still remain undisclosed adding an element of anticipation to the LayerZero community, as users eagerly await further clarity on the reward mechanism tied to their network engagement.
This recent revelation from LayerZero sets the stage for an exciting first half of 2024, as the crypto community looks forward to the token launch and potential rewards through the anticipated airdrop.