Token ZRO averages $6 in pre-market trades

LayerZero, a full-chain interoperability protocol with a valuation of over US$3 billion, is one of the most anticipated airdrop projects this year. LayerZero completed the first phase of airdrop snapshots early last month and then launched The "Witch Self-Reporting Program" allows users to report whether their addresses have witch behavior. It is estimated that the total number of witch addresses will exceed one million.

Following this, the LayerZero Foundation uploaded a picture with "06.20.2024" printed on it yesterday. Since the foundation usually manages project token governance and other matters, the community considered it to be a hint that LayerZero will be launched in June. Coins will be issued on the 20th.

The final airdrop rules are released

And LayerZero Labs CEO Bryan Pellegrino tweeted today, announcing the final airdrop rules. Early transactions will receive 3 times the reward. If 3 transactions are made in the later period, then Rewarding an additional 50 tokens (84,000 people qualified, approximately 4.2 million tokens in this part), he noted that a total of 594,641 participants will receive the airdrop, as follows:

• 364,628 participants will receive 50-100 tokens (total: 24,964,176.99)

• 184,177 participants will receive 100-250 tokens (total: 27,135,924.07)

• 34,647 participants will receive 250-500 tokens (Total: 11,606,358.46 tokens)

• 8,814 participants will receive 500-1000 tokens Tokens (total: 5,821,043.59)

• 2,217 participants will receive 1,000-5,000 tokens (total: 3,633,074.70)

• 158 participants will receive 5,000 tokens (total: 792,823.21).

However, it is worth noting that although Bryan Pellegrino has announced the final results, so far, the official X platform account of LayerZero Labs has not announced the witch review list, nor has it opened the air investment qualification inquiry. , users who want to know how many airdrops they have received will have to wait a while.

Token Economics and Potential Distribution

Bryan Pellegrino announced the token economics of $ZRO earlier. The total supply of $ZRO is 1 billion, which will be airdropped to the community and developers. 23.8%, or 238 million coins. 8.5% of the tokens will be circulated on the first day, allocated to:

• Official bridge users: 5%

• RFP projects (i.e. Ecological users): 3%

• Community pool: 0.5%

The majority of the remainder will be distributed within the next 36 months , and additional retroactive allocations will be made every 12 months, which means that of the 238 million $ZRO airdropped, 85 million were circulated on the first day of listing, and the remaining 153 million began to be unlocked 12 months later.

According to Kucoin data, the latest transaction price of $ZRO in pre-market trading was US$7.06, and the average transaction price was US$5.953. If calculated based on the average transaction price, LayerZero's FDV is approximately US$5.95 billion, which will exceed Wormhole's ($W) FDV of US$4.5 billion.

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