LayerZero, a cross-chain interoperability protocol, has completed the initial snapshot as it prepares to launch its long-awaited airdrop for users, set to take place in the first half of 2024.
The snapshot determined eligibility based on transactions up to 11:59:59 PM UTC on May 1, 2024, with the protocol’s developers indicating more airdrops could be in the pipeline.
LayerZero Completes Initial Snapshot
LayerZero had announced plans to issue a token in December 2023, stating that it would be launched in the first half of 2024. The protocol announced the completion of snapshot #1, indicating there would be more than one airdrop. The snapshot, which is the final point at which transactions count as eligible for an airdrop, was finalized at 11:59:59 UTC on May 1.
Decentralized finance (DeFi) protocols generally use airdrops to create traction among early users by issuing rewards in the form of newly issued cryptocurrency. While specific rewards for the use of the n
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