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Home»ADOPTION NEWS»LayerZero Labs CEO confirmed that employees are prohibited from claiming the upcoming airdrop.
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LayerZero Labs CEO confirmed that employees are prohibited from claiming the upcoming airdrop.

By Crypto FlexsMay 7, 20242 Mins Read
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LayerZero Labs CEO confirmed that employees are prohibited from claiming the upcoming airdrop.
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Posted 1 minute ago In ~

LayerZero co-founder Bryan Pellegrino confirmed late last night that LayerZero Labs employees will not be eligible to participate in the project’s upcoming airdrop and that claiming tokens is strictly prohibited.

“We will be making a public announcement about this: All LayerZero Labs employees will have their claims 100% capped and will not be eligible,” said Pellegrino, CEO of LayerZero Labs. wrote At X.

He added: “This will be a fireable offence, it has been announced internally for some time and always has been.”

LayerZero is an interoperability protocol that aims to provide developers with the ability to build cross-chain applications using modular security parameters. LayerZero Labs is a key contributor to the protocol.

When asked about the possibility of employees owning non-fungible tokens from certain NFT collections, such as Pudgy Penguins, being allocated LayerZero tokens, Pellegrino confirmed, “They can’t claim them.”

Earlier this month, the project gave user Sybil, who was farming the protocol in hopes of a larger airdrop, the option to self-report in return for “15% of the intended allocation.” Otherwise the risk is completely ruled out.

LayerZero Labs completed the initial snapshot for a potential airdrop on May 1st.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Adam is Editor-in-Chief for Europe, Middle East and Africa. He lives in Central Europe and is the editor-in-chief and podcast host at OKX Insights, the former research arm of cryptocurrency exchange OKX. Prior to that, he co-founded BeInCrypto.com, where he served as Editor-in-Chief and grew it into one of the leading cryptocurrency media brands. He previously served as Editor-in-Chief of Bitcoinist.com. Before joining the blockchain and cryptocurrency industry, he worked at Looper.com, Grunge.com, and SVG.com. He tweets at @XBT002 and can be emailed at (email protected).

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