Coinbase, Binance and other top cryptocurrency exchanges around the world have launched immediate trading support for a new altcoin based on the “OmniChain” project.
LayerZero bills itself as an omnichain interoperability protocol. The project aims to move data over blockchain and support “censorship-resistant messaging and permissionless development through immutable smart contracts.”
On Thursday, the project launched its new native token, ZRO. Binance added support for assets using seed tags, and Coinbase assigned an experimental label to its tokens. Both designations alert users to lower liquidity and especially new tokens that may be volatile.
OKX, Bybit, Crypto.com and Bitfinex also listed ZRO on Thursday.
On Thursday, the LayerZero Foundation also introduced a new charging mechanism for ZRO called “Proof of Donation,” designed to support the Protocol Guild, a collective funding mechanism for Ethereum (ETH) development.
explain the basics,
“Protocol Guild and Ethereum’s core developers have been fundamental to the growth of LayerZero, driving the proliferation of the Ethereum Virtual Machine (EVM), Ethereum’s L2-centric roadmap, and the broader cryptocurrency ecosystem. By donating to the Protocol Guild, eligible recipients demonstrate their long-term support for the LayerZero protocol and commitment to the future of cryptocurrency.
To claim ZRO, users must donate $0.10 per ZRO in USDC, USDT, or native ETH. This small donation will go directly to the Protocol Guild. The LayerZero Foundation is matching all donations up to $10 million.”
Already the 90th largest cryptocurrency asset by market capitalization, the governance token fell nearly 20% on its first day of trading and is priced at $3.57 at the time of this writing.
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