The LayerZero Foundation has initiated the application process for its ZRO token airdrop, scheduled to begin today at 13:00. A day prior, an eligibility checker was made available for users. The foundation emphasized the significance of launching ZRO, which boasts a fixed supply of 1 billion tokens, with 38.3% earmarked for users, developers, and community members.
Distribution Timeline for ZRO Tokens
On the first day, eligible participants can claim 85 million ZRO tokens, accounting for 8.5% of the total supply. The remaining tokens reserved for the community will be released through future distribution programs aimed at fostering ecosystem growth. A significant portion, 32.2%, is allocated to strategic partners, and 25.5% to primary participants, both subjected to a one-year lock-up followed by a three-year vesting period with monthly unlocks.
LayerZero Labs CEO Bryan Pellegrino mentioned that 1.28 million wallets have been identified as eligible for the airdrop. Over six million unique wallet addresses have interacted with the LayerZero protocol, demonstrating its widespread use and engagement.
What Challenges Does the Airdrop Face?
The LayerZero Foundation acknowledged the complexities in conducting a flawless airdrop, given the protocol’s extensive usage and development. They emphasized their commitment to rewarding regular users to ensure their alignment with the LayerZero protocol going forward.
Eligibility for the airdrop is determined by three main factors: Sybil filtering, Request for Proposal (RFP), and general eligibility criteria. A stringent approach was taken to exclude Sybil attackers who created multiple accounts to unfairly claim tokens. This included personal reporting, bounty hunting, and collaboration with on-chain security firms.
Actionable Insights for Users
Here are some concrete and valuable inferences for users:
- Check eligibility using the foundation’s provided tool before claiming tokens.
- Ensure compliance with the eligibility criteria to avoid disqualification.
- Be aware of the distribution schedule and vesting periods for strategic partners and primary participants.
- Understand that future distribution programs will incorporate remaining tokens for ecosystem growth.
In conclusion, the LayerZero Foundation has meticulously planned the airdrop event for its ZRO token, aiming to reward its community while tackling potential challenges. As the distribution process unfolds, eligible users are encouraged to participate and align themselves with the protocol’s long-term vision.