ZRO Token Launch Imminent: LayerZero Completes Airdrop Snapshot for Crypto Enthusiasts

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In a significant move towards the launch of its native token, ZRO, LayerZero, a cross-chain interoperability protocol, has successfully completed its first airdrop snapshot on May 1.
LayerZero Labs confirmed the completion of the airdrop snapshot, which will determine the allocation of ZRO tokens to eligible participants upon the official launch, expected to occur in the first half of 2024.
However, the LayerZero airdrop raises concerns about the potential impact of Sybil users, who claim airdrops with multiple cryptocurrency wallets solely to sell the rewards without any intention of long-term engagement with the protocol.

LayerZero completes airdrop snapshot for its native token, ZRO, amid anticipation and concerns about potential impact of Sybil users.

LayerZero Airdrop Snapshot: A Major Step Towards ZRO Token Launch

LayerZero, a cross-chain interoperability protocol, has successfully completed its first airdrop snapshot on May 1, marking a significant step towards the launch of its native token, ZRO. The snapshot will determine the allocation of ZRO tokens to eligible participants upon the official launch, which is expected to occur in the first half of 2024.

Anticipation and Valuation of ZRO Token

Anticipation for the ZRO token launch is already evident, particularly on decentralized exchanges. On Hyperliquid, the world’s largest perps DEX, a perpetual futures contract for ZRO is currently trading at $8.4. This suggests a fully diluted valuation of approximately $17 billion for the forthcoming token.

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18m ago•