Here’s what you need to know about LayerZero ZRO token airdrop
- LayerZero Labs CEO Bryan Pellegrino released details of the upcoming ZRO token airdrop in a recent tweet.
- ZRO total supply is 1 billion of which 23.8% will be directly allocated to the community and builders.
- LayerZero announced June 20 as a key date, it remains unclear whether this is the airdrop or entitlement date.
LayerZero, a project that enables data transfer across blockchains is set to airdrop ZRO token to eligible users. The project’s CEO shared details in a recent tweet on X.
ZRO token’s total supply is 1 billion. 8.5% of the supply will be allocated on the first day.
LayerZero Labs releases calculations for ZRO token airdrop
Bryan Pellegrino, the CEO of LayerZero Labs released his calculations on the ZRO token airdrop in a tweet on X.
Ok let's talk some numbers.
— Bryan Pellegrino (臭企鹅) (@PrimordialAA) June 14, 2024
23.8% of the supply is going directly to the community and builders. This does not include foundation, growth, etc. Directly to community.
8.5% of this is being distributed day 1 (5% core, 3% RFP, 0.5% community pool)
The majority of the remainder…
Per the tweet, ZRO has a supply of 1 billion of which 23.8% is reserved for allocation to community and builders. 23.8% excludes foundation, growth and other heads. 8.5% of the tokens allocated to community and builders will be distributed on the first day of airdrop, the rest of the tokens will be allocated within three years.
The project plans an additional allocation every 12 months, and some forward looking Request for Proposals (RFPs) will be provided for builders in the ecosystem.
The CEO’s tweet does not mention a timeline for the airdrop.
LayerZero Labs mentioned June 20 as a key date for the project in an official announcement. It remains unclear whether this is the airdrop date or entitlement date. Entitlement refers to calculation of eligibility and points to determine whether a user will receive the project’s airdrop and how many tokens they are entitled to.
Introducing @LayerZero_Fndn. https://t.co/4LszoKm6S7
— LayerZero Labs (@LayerZero_Labs) June 14, 2024
ZRO token has been prelisted in Bitget exchange, the last traded price on the OTC desk is 6.66 USDT.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
