In the world of blockchain interoperability, LayerZero has introduced a revolutionary method of token distribution that combines altruism with participation. Instead of following the traditional sales-dependent model, LayerZero has decided to kickstart a unique airdrop claim process for their ZRO token, allowing people to donate directly to the development community.
To claim a new token, users will need to pay $0.10 in ZRO tokens. Acceptable forms of donation include USDC, USDT, and other cryptocurrencies. This unconventional approach aims to create a more community-based distribution method and has a target of raising up to $18.5 million. All proceeds will go to Protocol Guild, a collective of Ethereum developers.
LayerZero’s approach involves managing ZRO token claims through a “Proof-of-Donation” process, which started on June 20th and will continue until September 20th. By donating directly through the claiming process, LayerZero aims to support Ethereum developers who play a crucial role in the blockchain ecosystem.
While this initiative is seen as a positive step towards community development and innovation within the Ethereum ecosystem, it has received mixed responses from the crypto-community. Some argue that the compulsory donation goes against the spirit of airdrops, which are typically seen as giveaways rather than mandatory contributions.
Notably, some prominent figures in the industry, like Yearn finance’s Banteg, question why Protocol Guild, which supports projects in the aggregate data space, receives funding through this method when other projects do not. Despite these criticisms, LayerZero’s approach highlights a growing trend of incorporating charity into crypto operations and could serve as a model for projects to give back to the wider ecosystem while pursuing their distribution goals.
The funds raised through this initiative will have a significant positive impact on Protocol Guild, with donations being vested over four years to support the long-term sustainability of Ethereum’s core developers.
LayerZero has already launched the ZRO claim process, which is available on supported chains such as Ethereum, Arbitrum, Optimism, Base, Polygon, BNB Chain, and Avalanche.
Looking ahead, LayerZero’s decision to require a donation for token claims represents a bold step towards aligning crypto-economic activities with the greater good and community benefits. It signifies a shift from solely focusing on technical innovation to considering the impact of their work on the surrounding community.
The foundation has confirmed that around 85 million ZRO tokens, equivalent to 8.5% of the initial circulating supply, are claimable by authorized users. This move is part of a broader strategy to allocate 38.3% of ZRO tokens back to the community, with a significant portion earmarked for future initiatives.