Full -chain interoperability protocol LayerZero has become one of the most anticipated airdrop projects this year with a valuation of more than $3 billion. After the official completed the first phase of airdrop snapshots in early May, and then launched the "Witch Self-Reporting Project" to vigorously search for witch accounts, the official finally hinted at a clear time when the currency may be issued.
LayerZero hints at big things in 6.20
In the early hours of this morning, the LayerZero Foundation uploaded a picture with "06.20.2024" printed on it. Since the foundation usually manages project token governance and other matters, it is widely regarded as a signal that LayerZero will issue tokens on June 20. .
On the 7th, LayerZero CEO Bryan Pellegrino also said that although the Witch review work has not yet been completed, he emphasized that the airdrop will definitely take place in June.
CEO unveils token economics and potential distribution
Earlier, CEO Bryan Pellegrino announced the token economics and possible airdrop distribution of $ZRO. He stated that the total supply of $ZRO is 1 billion, and 23.8% will be airdropped to the community and developers. That is 238 million pieces. 8.5% of these tokens will be in circulation on the first day, allocated to:
- Official bridge users: 5%
- RFP projects (i.e. ecological users): 3%
- Community pool: 0.5%
The majority of the remainder will be distributed over the next 36 months, with additional retroactive distributions every 12 months. This means that of the 238 million $ZRO airdropped, 85 million were circulated on the first day of listing, and the remaining 153 million began to be unlocked 12 months later.
Next, Bryan Pellegrino said that since the number of witches and RFPs had not yet been finalized, they conducted four allocation simulations. One of the examples is as follows (the following is the allocation of 25 minutes, model 2):
- Total number of qualified wallets: 823,376 (the passing rate before the witch hunt was 27.44%, and after hunting 1 million witches, the passing rate was 41.16%)
- Number of wallets obtained 25-100 $ZRO: 694,774 (total: 30,491,067.23 tokens)
- Number of wallets obtained 100-1000 $ZRO: 122,448 (total: 29,352,999.82 tokens)
- Number of wallets obtained 1000-10000 $ZRO: 5,997 (total: 11,420,971.35 tokens)
- Number of wallets that received more than 10,000 $ZRO: 157 (total: 3,734,961.60 tokens)
OTC price breaks through $7
Although $ZRO has not yet been officially launched, it has been opened for trading in the pre-market markets of Kucoin, Whale Market and other platforms. According to Kucoin data , the latest transaction price of $ZRO is US$7.07, and the average transaction price is US$6.047. If calculated at the average price, it means that LayerZero's FDV is approximately US$6 billion, exceeding Wormhole's ($W) FDV of US$4.5 billion.
At the same time, this also means that the airdrop income will be presented as follows:
- Minimum living allowance: 150 – 600 US dollars (tokens 25-100)
- Medium: USD 600 – 6000 (Tokens 100 – 1000)
- Premium: 6000 – 60,000 USD (1000 – 10,000 tokens)
- Premium products: more than US$60,000 (more than 10,000 tokens)
