Blockchain interoperability protocol LayerZero has announced that it will launch a token after months of feverish speculation.
“LayerZero has always been built with the ability to hold native tokens within the protocol, as seen in the immutable code released on Day 1. We have heard over the past few months that there has been a lack of community discussion and clear communication about this. “I heard this,” Project Posted in.
“We can now say with certainty that there will be a LayerZero token. Its distribution is something we are doing our best to get right and we expect it to happen within the first half of 2024,” he added.
This means that tokens will be distributed as airdrops, a common method of rewarding early users with tokens. The idea is that tokens from older projects often have governance rights over the token’s future development, and that the users of the protocol will be the best ones to decide how future development should take place.
This means that the airdrop terms may not have been determined yet and the snapshot, the final point of the transaction that determines airdrop eligibility, may have already been taken.
LayerZero allows users to move data and assets across blockchains. In April 2023, the development company raised $120 million in a Series B funding round at a valuation of $3 billion.
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