Interoperability giant LayerZero announced a snapshot of an upcoming airdrop, first confirmed in December.
LayerZero is a fully connected mesh network that allows smart contracts deployed on different blockchains to communicate with each other. The technology, called cross-chain interoperability, is touted as a key solution for bridging value across standalone decentralized networks.
Several blockchains, including Aptos, Avalanche, Polygon, and Harmony, leverage LayerZero’s technology to extend usability.
Following last year’s teaser, the protocol unveiled its first snapshot on May 2. LayerZeros after on The team previously shared plans to launch a token in the first half of this year.
Defi snapshots refer to capturing or bookmarking on-chain wallet addresses involved in a project’s blockchain or dApp. Snapshots help teams determine user engagement and reward early participants over time.
Users typically measure a project’s readiness to launch tokens when snapshots occur. Such announcements could also lead to reduced activity, as airdrop farmers could believe that eligibility for free tokens has been secured and reallocate resources to other initiatives.
The criteria for LayerZero’s airdrop is unknown because the team has not released the tokenomics. However, data providers like CoinGecko have listed a ZRO token for a while, but the token has no other available details besides the ticker.
There may be speculation about the ZRO offering and how many tokens can be allocated for community distribution, team incentives and investors. Like crypto.nieuws reported Last year, the protocol was valued at $3 billion after raising $120 million in a Series B funding round led by major venture capital firms like Andreessen Horowitz.
Funds raised is not a surefire method of determining the value of an airdrop, but a healthy cash vault sometimes translates into a larger allocation for users.
