LayerZero Foundation Launches ZRO Token Claim Process with Proof-of-Donation Mechanism

LayerZero Foundation has recently announced the launch of the claims for the airdrop of its native token ZRO. The organization, which supports the cross-chain interoperability platform LayerZero, revealed that the claims for ZRO tokens went live on June 20 at 11:00 am UTC and will be open until September 20. Eligible users can now claim tokens from various chains, including Ethereum, Arbitrum, and Polygon, among others.

The claim process for ZRO tokens requires a LayerZero message, except for Arbitrum, which will process claims directly. Once claimed, ZRO tokens can be transferred between chains via Stargate. However, LayerZero Foundation identified an issue with certain wallets receiving an unfair distribution of funds. In response, they have reworked the distribution and are urging users to check their current ZRO allocation.

In addition to the token claims, LayerZero has introduced a new claiming mechanism called Proof-of-Donation. This mechanism aims to donate approximately $18.5 million to Protocol Guild, a collective funding mechanism for Ethereum developers that has been crucial to LayerZero’s success. Users who wish to claim ZRO tokens must donate $0.10 in USDC, USDT, or native ETH per ZRO, with the donations going directly to Protocol Guild and vested over four years. The LayerZero Foundation is also matching donations up to $10 million.

The Proof-of-Donation mechanism by LayerZero is designed to combat issues faced by traditional airdrops, such as Sybil attacks and airdrop farming, which can undermine long-term protocol success. By requiring a donation, LayerZero ensures that recipients are genuinely interested in the project’s future, fostering long-term engagement and alignment with its protocol. This innovative approach highlights LayerZero’s commitment to sustainable growth and developer support within the crypto ecosystem.

The introduction of the Proof-of-Donation mechanism and the opening of ZRO token claims demonstrate LayerZero’s dedication to fostering a strong and supportive community within the crypto space. With the support of Protocol Guild and Ethereum developers, LayerZero is poised for continued success and growth in the evolving crypto landscape.