Token

2024

Starknet

LayerZero

<p>LayerZero Labs has completed the first airdrop snapshot for its native token, ZRO, as of May 1.&nbsp;</p>
<p>This development is part of the preparatory steps for the ZRO token’s official launch, expected in the first half of 2024. The snapshot is designed to set the allocations for ZRO tokens to participants deemed eligible. The completion of the snapshot was confirmed <a href="https://twitter.com/LayerZero_Labs/status/1785821562475839843" rel="noopener noreferrer nofollow" target="_blank">through a post</a> by LayerZero Labs on the social media platform X on May 2.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">More information coming soon. <a href="https://t.co/NyMpJFVg9S" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/NyMpJFVg9S</a></p>— LayerZero Labs (@LayerZero_Labs) <a href="https://twitter.com/LayerZero_Labs/status/1785821562475839843?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">May 2, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h2 class="wp-block-heading" id="market-response-to-zro-token">Market Response to ZRO Token</h2>
<p>There is already noticeable trading activity around the ZRO token in anticipation of its launch. On Hyperliquid, a leading decentralized exchange for perpetual futures, a futures contract for ZRO is actively trading at a price of $8.4. This trading price implies a fully diluted market valuation of approximately $17 billion for the ZRO token upon its release.</p>
<p>The practice of Sybil users exploiting airdrops by using multiple cryptocurrency wallets to collect and then sell tokens has been a recurring issue. These actions typically aim to profit from the airdrop without any long-term commitment to the protocol, potentially affecting the stability of the token’s price after launch.</p>
<h2 class="wp-block-heading" id="previous-airdrop-complications">Previous Airdrop Complications</h2>
<p>Other projects have encountered challenges similar to those faced by airdrop hunters. In February, an analysis of the Starknet airdrop eligibility list revealed that a significant portion of the addresses were linked to Sybil users. In March 2023, during the <a href="https://www.cryptopolitan.com/arbitrums-airdrop-leads-to-whale-sell-offs-and-price-fluctuations/" target="_blank" data-type="post" data-id="295094" rel="noopener noreferrer nofollow">Arbitrum (ARB) airdrop</a>, wallets associated with airdrop hunters amassed over $3.3 million worth of tokens, which also contributed to fluctuations in the token’s market price after the distribution.&nbsp;</p>

LayerZero Completes Airdrop Snapshot for Upcoming ZRO Token Launch

Table of Contents

Cryptopolitan_News

Other articles published on May 4, 2024

Analysts Predict The Post-Halving Turbulence Ends, Ethereum, and Solana Ready To Make New Highs, ...

Grayscale Bitcoin ETF Ends 77-Days of Outflows, GBTC Inflows Begin

Crypto Exchange Manager Admits Guilt in $9 Billion Scandal: Impact on Coin Market and Symbols

Paypal Enables Crypto Purchases for US Moonpay Users

Google Rumored to Develop Next-Gen Nest Hub Max with Gemini Nano Integration

Dogecoin (DOGE) and Shiba Inu (SHIB) Experience Notable Price Surge: Unveiling the Reasons

Join our free newsletter for daily crypto updates!