TL;DR
- LayerZero has launched the Proof-of-Donation to support Ethereum development through the Protocol Guild.
- Users can claim ZRO tokens by making minimum donations of $0.10 in USDC, USDT, or ETH, with donations matched up to $10 million by the LayerZero Foundation.
- The ZRO claiming process will be open from June 20 to September 20 across multiple chains including Ethereum, Arbitrum, Optimism, and more.
LayerZero has launched an innovative mechanism known as Proof-of-Donation. This new system aims to support Ethereum’s development through donations directed to the Protocol Guild, an organization dedicated to funding the research and development of Ethereum’s Layer 1.
The initiative allows users to claim LayerZero’s ZRO tokens by making specific donations. Each ZRO token can be obtained with a minimum donation of $0.10 in cryptocurrencies such as USDC, USDT, or ETH. The key aspect of this offering is that all donations made will be matched by the LayerZero Foundation up to $10 million. These funds are intended to be vested over a four-year period, ensuring sustained and transparent support for the continuous development of Ethereum.
Today LayerZero is introducing a new claiming mechanism called Proof-of-Donation, which will result in ~$18.5 million donated to @ProtocolGuild, a collective funding mechanism for Ethereum developers.
Protocol Guild and Ethereum's core developers have been fundamental to… pic.twitter.com/YPN7wzsqbJ
— LayerZero Foundation (@LayerZero_Fndn) June 20, 2024
The ZRO claiming process will be open from June 20 to September 20, allowing participants to obtain their tokens not only on the Ethereum network but also on other major chains like Arbitrum, Optimism, Base, Polygon, BNB Chain, and Avalanche. However, it is important to note that except for Arbitrum, a specific message from LayerZero will be required to verify claims on each of these networks.
Several Exchanges Prepare to List LayerZero (ZRO)
Parallel to the launch of this innovative mechanism major exchanges such as Upbit have announced the inclusion of LayerZero (ZRO) on their trading platforms, thereby enhancing accessibility and liquidity for interested users. Additionally, OKX and Bithumb have joined this initiative, preparing to list ZRO on their respective markets soon.
LayerZero’s founder and team have emphasized the importance of this initiative as a crucial step towards a more sustainable token distribution model within the ecosystem. Criticizing traditional airdrop methods, which often lead to unhealthy practices like token farming and multiple address manipulation they reaffirm their goal to build a robust and equitable protocol for the long term.
With the Proof-of-Donation, LayerZero will strengthen its position in the market and promote sustainable and responsible growth within the blockchain industry.
