The blockchain interoperability project LayerZero announced on Dec. 7 that it intends to launch a native cryptocurrency in the coming months.
LayerZero Labs posted to Twitter/X:
“LayerZero has always been built with the ability to have a native token within the protocol, as can be seen in the immutable code launched on day 1 … We’ll state now in no uncertain terms that there will be a LayerZero token.”
The project said that it expects to distribute the token in the first half of 2024, adding that this distribution is something it is “committed to getting right.”
LayerZero added that it has allocated $3 million of ZRO tokens to a distribution pool for the community. It said that user address that have performed more than ten transactions on the Ethereum mainnet between Q1 2023 and Q3 2023 are eligible to receive funds in an upcoming token airdrop, noting that exact distribution amounts will be based on wallet activity.
LayerZero said that pre-registration will be open until
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