As a researcher with a background in blockchain technology and decentralized finance, I’m excited about the recent development surrounding LayerZero Foundation and their cross-chain interoperability platform. The announcement of the live ZRO token airdrop claims is an essential milestone for the project.
The LayerZero Foundation, the group behind the cross-chain compatibility system LayerZero, has made public the activation of the ZRO token airdrop claims.
Starting today, June 20 at 11:00 am UTC, through September 20, eligible users have the opportunity to secure ZRO tokens. These claims can be made on various blockchain networks such as Ethereum, Arbitrum, and Polygon, among others.
The ZRO claim is now active for use on the following supported blockchain networks: Ethereum, Arbitrum, Optimism, Binance Smart Chain, Polygon, Avalanche (C-Chain), and Avalanche (Fuji Network).
— LayerZero Foundation (@LayerZero_Fndn) June 20, 2024
When it comes to making a claim, you’ll need to send a LayerZero message in most cases, with the exception of Arbitrum where claims can be processed directly. Following the approval of your claim, you’ll be able to transfer ZRO tokens between different blockchain networks using Stargate.
The LayerZero Foundation discovered that some wallets received an unequal share of funds during the distribution process. To rectify this issue, they have made adjustments to the distribution and ask users to review their current $ZRO holdings.
Proof-of-Donation
As a researcher, I’ve discovered that LayerZero recently introduced a new claiming mechanism named Proof-of-Donation. This initiative is intended to contribute around $18.5 million towards Protocol Guild. The Protocol Guild plays a pivotal role in supporting Ethereum developers and has significantly contributed to LayerZero’s achievements. By making this donation, LayerZero aligns itself with the evolving crypto ecosystem.
Today, LayerZero unveils its latest giving method called Proof-of-Donation, set to transfer approximately $18.5 million towards @ProtocolGuild. This collective funding mechanism significantly supports Ethereum developers.
— LayerZero Foundation (@LayerZero_Fndn) June 20, 2024
To obtain ZRO tokens, users need to contribute $0.10 worth of USDC, USDT, or Ethereum directly. These contributions are routed to Protocol Guild for vesting over a four-year period. The LayerZero Foundation will match qualifying donations up to a total of $10 million.
Combatting Airdrop Issues
LayerZero’s Proof-of-Donation system addresses the problems encountered with conventional airdrops, including Sybil attacks and farming, which have threatened the long-term viability of protocols. By mandating a donation from recipients, LayerZero guarantees that those receiving tokens are genuinely invested in the project’s future.
Through its inventive method, LayerZero demonstrates a dedication to sustainable expansion and championing developers within the cryptocurrency sector. By merging donation functionality into the process of claiming rewards, LayerZero cultivates enduring involvement and agreement among its user base, thereby strengthening the protocol’s long-term impact.
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2024-06-20 23:48