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Vancouver-based blockchain infrastructure firm LayerZero Labs has confirmed plans to launch its native token in the first half of 2024. 
In a <a href="https://twitter.com/LayerZero_Labs/status/1732862812710449466" target="_blank" rel="noopener">post </a>on X, the company addressed the crypto community’s concerns about the limited communication regarding the upcoming token launch. 
<blockquote class="wp-block-quote"> 
 “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.” <cite>LayerZero</cite>
</blockquote> 
Earlier in April, LayerZero Labs secured <a href="https://www.prnewswire.com/news-releases/layerzero-labs-closes-120-million-series-b-funding-round-raising-its-valuation-to-3-billion-301789138.html" target="_blank" rel="noopener">$120 million</a> in a Series B funding round aimed at bolstering their cross-chain messaging capabilities, which attracted significant interest from prominent crypto-focused venture capitalists, including <a href="https://crypto.news/tag/Andreessen-Horowitz/">Andreessen Horowitz</a> (a16z), <a href="https://crypto.news/tag/Sequoia-Capital/">Sequoia Capital</a>, Circle Ventures, and OKX Ventures. 
 You might also like: <a href="https://crypto.news/circle-ceo-reveals-massive-usdc-adoption-outside-us/"> Circle CEO reveals massive USDC adoption outside US </a> 
LayerZero’s platform is designed to enable developers to build projects across multiple blockchains seamlessly, eliminating the need for intermediaries in cross-chain interactions. The platform currently supports over 30 mainnet blockchains, such as Solana and Aptos, along with non-<a href="https://crypto.news/glossary/ethereum-virtual-machine-evm/">Ethereum Virtual Machines </a>(EVMs). 
<h2 class="wp-block-heading" id="layerzero-allocates-3m-for-community-distribution-pool">LayerZero allocates $3m for community distribution pool</h2> 
Additionally, LayerZero announced through a separate blog post that it has set aside $3 million in ZRO tokens for a community distribution pool. The upcoming airdrop will reward user addresses that have conducted more than 10 transactions on the Ethereum mainnet this year. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 https://twitter.com/LaycrZero_Labs/status/1732866356733694125 
 </div>
</figure> 
<a href="https://crypto.news/tag/airdrop/">Airdrops</a> are a standard method in the crypto world for distributing tokens, often in exchange for specific tasks or as part of liquidity provision. 
Market speculation around the <a href="https://medium.com/@BestAirdropsToday495861/layerzero-airdrop-instruction-claim-350-in-zro-token-for-everyone-d327a1786167" target="_blank" rel="noopener">ZRO token price</a> indicates a range of $2.35 to $4.50 per token in private sales. This valuation suggests that even a modest share of the airdrop could hold significant value for recipients. 
LayerZero is also the driving force behind <a href="https://crypto.news/stargate-used-voting-for-a-43k-phishing-attack/">Stargate</a>, a prominent decentralized application (<a href="https://crypto.news/glossary/decentralized-applications-dapps/">dApp</a>) that facilitates asset bridging across different chains. Stargate boasts a total value locked of over $400 million, highlighting its position as a major player in the dApp space. 
 Read more: <a href="https://crypto.news/telos-and-layerzero-announces-strategic-partnership/"> Telos and LayerZero announce strategic partnership </a>

LayerZero plans to launch native token in H1 2024

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