LayerZero (ZRO) Token Tumbles 20% on First Day of Trading as Coinbase, Binance, and a Host of Other Top Crypto Exchanges Roll Out Trading Support

LayerZero bills itself as an omnichain interoperability protocol. The project aims to move data across blockchains and support “censorship-resistant messages and permissionless development through immutable smart contracts.”

Major cryptocurrency exchanges, including Coinbase, Binance, OKX, Bybit, Crypto.com and Bitfinex, have listed LayerZero’s (ZRO) governance token for immediate trading.

Cointelegraphプライズope reports that Binance added the asset with a seed tag, while Coinbase assigned it an experimental label, both of which indicate lower liquidity and newer tokens that could be particularly volatile.

The omnichain interoperability protocol, which aims to move data across blockchains and support “censorship-resistant messages and permissionless development through immutable smart contracts,” launched its native token on Thursday.

The LayerZero Foundation also introduced a new claiming mechanism for ZRO called “proof-of-donation” to support the Protocol Guild, a collective funding mechanism for Ethereum (ETH) development.

“Protocol Guild and Ethereum’s core developers have been fundamental to LayerZero’s growth, driving the proliferation of the EVM (Ethereum Virtual Machine), Ethereum’s L2-centric roadmap, and the broader crypto ecosystem,” the foundation explained.

“By donating to Protocol Guild, eligible recipients demonstrate their long-term alignment with the LayerZero protocol and a commitment to the future of crypto.”

To claim ZRO, users must donate $0.10 in USDC, USDT, or native ETH per ZRO. The small donation will go directly to the Protocol Guild, and the LayerZero Foundation is matching all donations up to $10 million.

The governance token, which is already ranked 90th among crypto assets by market capitalization, dropped by nearly 20% on its first day of trading and is currently priced at $3.57.

News source：https://www.kdj.com/cryptocurrencies-news/articles/layerzero-zro-token-tumbles-day-trading-coinbase-binance-host-top-crypto-exchanges-roll-trading-support.html

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