Token

LayerZero

Million

Foundation

<a href="https://bitcoinworld.co.in/layerzero-completes-airdrop-snapshot-for-upcoming-zro-token-launch/" title="Layerzero Completes Airdrop Snapshot For Upcoming ZRO Token Launch" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400">LayerZero Labs completed its first airdrop snapshot for the ZRO token, setting up for its launch in early 2024.</li>
 <li style="font-weight: 400">Anticipation for ZRO is high, with trading on Hyperliquid indicating a potential valuation of about $17 billion.</li>
 <li style="font-weight: 400">Past issues with Sybil users exploiting airdrops highlight challenges faced in ensuring fair token distribution.</li>
</ul>
LayerZero Labs has completed the first airdrop snapshot for its native token, ZRO, as of May 1.&nbsp;
This development is part of the preparatory steps for the ZRO token’s official launch, expected in the first half of 2024.&nbsp;
The snapshot is designed to set the allocations for ZRO tokens to participants deemed eligible. The completion of the snapshot was confirmed through a <a href="https://twitter.com/LayerZero_Labs/status/1785821562475839843" rel="noopener noreferrer nofollow">post</a> by LayerZero Labs on the social media platform X on May 2.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 More information coming soon. <a href="https://t.co/NyMpJFVg9S" rel="noopener noreferrer nofollow">pic.twitter.com/NyMpJFVg9S</a>
 — LayerZero Labs (@LayerZero_Labs) <a href="https://twitter.com/LayerZero_Labs/status/1785821562475839843?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 2, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<h3 id="span-style-font-weight-400-market-response-to-zro-token-span">Market Response to ZRO Token</h3>
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.&nbsp;
See Also: <a class="row-title" href="https://bitcoinworld.co.in/fantom-foundation-launches-6-5-million-prize-pool-to-incentivize-safer-meme-coins/" aria-label="“Fantom Foundation Launches $6.5 Million Prize Pool to Incentivize “Safer Meme Coins”” (Edit)" rel="noopener noreferrer nofollow">Fantom Foundation Launches $6.5 Million Prize Pool to Incentivize “Safer Meme Coins”</a>
This trading price implies a fully diluted market valuation of approximately $17 billion for the ZRO token upon its release.
The practice of Sybil users exploiting airdrops by using multiple cryptocurrency wallets to collect and then sell tokens has been a recurring issue.&nbsp;
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.
<h3 id="span-style-font-weight-400-previous-airdrop-complications-span">Previous Airdrop Complications</h3>
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.&nbsp;
In March 2023, during the Arbitrum (ARB) airdrop, 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.
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote>
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The post <a href="https://bitcoinworld.co.in/layerzero-completes-airdrop-snapshot-for-upcoming-zro-token-launch/" rel="noopener noreferrer nofollow">Layerzero Completes Airdrop Snapshot For Upcoming ZRO Token Launch</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

Layerzero Completes Airdrop Snapshot For Upcoming ZRO Token Launch

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