LayerZero, a full-chain interoperability protocol with a valuation of over US$3 billion, is one of the most anticipated airdrop projects this year. LayerZero completed the first phase of airdrop snapshots early last month, and then launched the "Witch Self-Reporting Project" to allow users to surrender themselves Whether there is any witch behavior in the address, it is estimated that the total number of witch addresses will exceed one million.
Immediately afterwards, the LayerZero Foundation uploaded a picture with "06.20.2024" printed on it yesterday. Since the foundation usually manages project token governance and other matters, the community considered it to be a hint that LayerZero will issue tokens on June 20.
Final airdrop rules released
LayerZero Labs CEO Bryan Pellegrino tweeted today, announcing the final airdrop rules. Early transactions will receive 3 times the reward. If 3 transactions are made in the later period, an additional 50 tokens will be awarded (84,000 people are eligible, and this part is about 420 million tokens), he noted that a total of 594,641 participants will receive the airdrop, as follows:
- 364,628 participants will receive 50-100 tokens (total: 24,964,176.99)
- 184,177 participants will receive 100-250 tokens (Total: 27,135,924.07 tokens)
- 34,647 participants will receive 250-500 tokens (Total: 11,606,358.46 tokens)
- 8,814 participants will receive 500-1000 tokens (Total: 5,821,043.59 tokens)
- 2,217 participants will receive 1000-5000 tokens (Total: 3,633,074.70 tokens)
- 158 participants will receive 5000 tokens (total: 792,823.21).
However, it is worth noting that although Bryan Pellegrino has announced the final results, so far, the official X platform account of LayerZero Labs has not announced the witch review list, nor has it opened the airdrop qualification inquiry. Users who want to know how many airdrops they have received must still Wait a moment.
Token Economics and Potential Distribution
Bryan Pellegrino announced the token economics of $ZRO earlier. The total supply of $ZRO is 1 billion, and 23.8%, or 238 million, will be airdropped to the community and developers. 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, representing 238 million airdrops $ZRO, of which 85 million were circulated on the first day of listing, 12 months Then began to unlock the remaining 153 million pieces.
According to Kucoin data , the latest transaction price of $ZRO in pre-market trading was $7.06, and the average transaction price was $5.953. If calculated based on the average transaction price, LayerZero's FDV is approximately US$5.95 billion, which will exceed Wormhole's ($W) FDV of US$4.5 billion.
