LayerZero’s initial airdrop snapshot completed
Key Takeaways
- LayerZero has announced the completion of the first snapshot for the ZRO token airdrop, with more details coming soon.
- ZRO was first introduced as Hyperp on HyperLiquid DEX in September 2023.
- The effectiveness of airdrops as a DeFi engagement tool is controversial as they often attract airdrop hunters.
LayerZero, an omnichain interoperability protocol, recently launched The first snapshot for the long-awaited ZRO token airdrop has been completed.
This announcement was made through: post to What LayerZero Labs promises There will be more updates soon.
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ZRO was introduced on the HyperLiquid Perpetual Futures Decentralized Exchange (DEX) in September 2023 as follows: the first hyperfox—A trading instrument similar to a perpetual contract but without the need for an external spot price or index price oracle.
As of this writing, the ZRO Hyperp is It trades for $8.5.
Despite the anticipation surrounding the airdrop, LayerZero No further details have been released yet.
Previous notice Published December 7, 2023This indicates that the official launch of the ZRO token is scheduled for early 2024. Development Team We emphasized our commitment to fair distribution of tokens, say:
LayerZero is always the protocol <...> It is built with the ability to have native tokens within it. Now let me assure you that there will be LayerZero tokens. The deployment is committed to moving in the right direction and is expected to occur within the first half of 2024.
Airdrops are a common strategy in decentralized finance (DeFi) protocols. Encourage participation by providing new cryptocurrencies to early users.
which The effectiveness of airdrops in encouraging long-term protocol loyalty is a matter of ongoing debate. Within the DeFi community. That’s because they often Attract air drop hunters—Price can become unstable due to people using multiple wallets to collect tokens and sell them quickly.
For example, Yearn.finance developer Banteg noted that the airdrop eligibility list for Starknet’s STRK token airdrop last February was primarily populated by airdrop hunters.
Nonetheless, as LayerZero moves toward token launch, the potential impact of the airdrop strategy on user loyalty and token value remains an important consideration for the future of the protocol.
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