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.

LayerZero (CRYPTO: ZRO) users will be required to pay 10 cents worth of ether (CRYPTO: ETH) or a stablecoin for each token they want to unlock from their airdrop kitty.

The donations will be mandatory and the LayerZero Foundation will match proceeds upto $10 million.

What Happened: LayerZero’s newly introduced ZRO token, which will go live on Thursday, will require claimants to pay 10 cents each.

“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.”

“The LayerZero Foundation is matching all donations up to $10 million,” it added.

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.

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.

ZRO Pre-Market Trading: 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.

See More: Best Cryptocurrency Airdrops For 2024

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