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LayerZero Says Users Must Pay 10 Cents per ZRO to Claim Token
The donations appear to be mandatory and the LayerZero Foundation will match proceeds upto $10 million.
Updated Jun 20, 2024, 2:19 p.m. Published Jun 20, 2024, 11:56 a.m.
- LayerZero's ZRO token airdrop requires recipients to donate 10 cents worth of ether or a stablecoin for each token they wish to claim.
- This "proof-of-donation" mechanism is a unique approach in the crypto community, where donations are usually voluntary, and has received mixed reactions from users.
LayerZero’s newly introduced ZRO token, which will go live on Thursday, requires claimants to pay 10 cents worth of ether or a stablecoin for each token they want to unlock from their airdrop kitty.
“By donating to Protocol Guild, eligible recipients show long-term alignment with the LayerZero protocol and a commitment to the future of crypto,” LayerZero said in an X post. “To claim ZRO, users must donate $0.10 in USDC, USDT, or native ETH per ZRO. This small donation goes directly to the Protocol Guild.”
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“The LayerZero Foundation is matching all donations up to $10 million,” it added.
Today LayerZero is introducing a new claiming mechanism called Proof-of-Donation, which will result in ~$18.5 million donated to @ProtocolGuild, a collective funding mechanism for Ethereum developers.
— LayerZero Foundation (@LayerZero_Fndn) June 20, 2024
Protocol Guild and Ethereum's core developers have been fundamental to… pic.twitter.com/YPN7wzsqbJ
The so-called “proof-of-donation” mechanism is the first time a project is asking users to donate a small amount of money to claim tokens. While crypto donations are commonplace and appreciated among developers in the market, they are usually not mandated or placed as a requirement upon users – especially for an airdrop.
Early reactions in the crypto community were mixed. Some users expressed their disagreement with the move, while others stated it would help support development.
Is it really alignment if it's forced lol
— Louis (@LouisCooper_) June 20, 2024
If I'm at McDonald's and they force me to donate to get my cheeseburger, do I really care about the kids or am I just hungry
Airdrops refer to the distribution of tokens to project users, usually based on their interaction with that blockchain or usage of related products. LayerZero is one of the most-anticipated and high-profile airdrops for 2024, with 85 million ZRO set to be available for distribution on Thursday.
Over 50% of the supply has been earmarked for investors and core contributors subject to a three-year vesting period with a one-year lock and a monthly unlock over the following two years.
Meanwhile, ZRO trades at $4.27 in pre-market futures trading ahead of its Thursday launch. The token is scheduled to go live for trading on crypto exchanges such as Binance at noon UTC.
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