Vancouver-based LayerZero Labs to Launch Native Token in 2024
LayerZero Labs, a blockchain infrastructure provider based in Vancouver, has announced its plans to launch its native token in the first half of 2024. The company addressed the speculation within the crypto community regarding the lack of communication about the token launch.
“We’ll state now in no uncertain terms that there will be a LayerZero token. Its distribution is something we’re committed to getting right and expect it to happen within the first half of 2024.”
Earlier this year, LayerZero Labs raised $120 million in a Series B funding round, with participation from prominent venture capitalists such as Andreessen Horowitz (a16z), Sequoia Capital, Circle Ventures, and OKX Ventures. The funding was intended to support the expansion of LayerZero’s cross-chain messaging efforts.
The LayerZero Platform and Airdrop
The LayerZero platform enables developers to create projects on multiple blockchains without the need for intermediaries to handle cross-chain interactions. It connects more than 30 mainnet blockchains, including Solana, Aptos, and non-Ethereum Virtual Machines (EVMs).
In a separate blog post, LayerZero revealed that it has allocated $3 million worth of ZRO tokens to a distribution pool for the community. Users with over 10 transactions on the Ethereum mainnet this year will be eligible to receive funds in an upcoming token airdrop.
ZRO Token Price Speculation
Speculation about the price of the ZRO token suggests that it is currently available in private sales rounds for $2.35 to $4.50 per token. If this prediction holds true, even a small amount of the airdropped token could have significant value.
The team at LayerZero previously hinted at the token’s launch in the future through their GitHub code. The token launch is expected to bring further growth and opportunities for the LayerZero ecosystem.
Hot Take: LayerZero Labs Paves the Way for Native Token
LayerZero Labs’ announcement of its native token launch in 2024 demonstrates the company’s commitment to meeting the demands of the crypto community. With its successful funding round earlier this year, LayerZero is well-positioned to expand its cross-chain messaging efforts and provide developers with a seamless platform for creating projects on multiple blockchains. The allocation of $3 million worth of ZRO tokens for a community distribution pool and an upcoming token airdrop further enhances the accessibility and value of LayerZero’s ecosystem. As anticipation builds for the token launch, LayerZero Labs continues to solidify its position as a leading blockchain infrastructure provider.
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