An airdrop is a free distribution of digital assets you can use to earn money. A recent prominent example is the Arbitrum airdrop. In March 2023, the team distributed 1.2 billion tokens among 600K users. The most active ones received the biggest stash. By May, tokens had skyrocketed 265%, from $0.4 up to $1.8. Those who received $500 worth of coins were able to sell them for $1325 two months later.
Stories like this force members of the crypto community to always closely monitor announcements of free giveaways. One of the most anticipated airdrops of 2024 is LayerZero. Learn everything you need to know about the project and how to not miss the opportunity to receive ZRO tokens for free.
What is Layer Zero
LayerZero is a protocol that solves the blockchain's interoperability problem. Each blockchain is a closed ecosystem, so it is very difficult to transfer information or assets from one to another. LayerZero solves this issue: 50+ blockchains (BNB Chain, Ethereum, Harmony, Avalanche, Ghnosis, etc.) can communicate using the project's tools without compromising security.
LayerZero is used by both ordinary users and developers who can use the protocol to create applications and tokens upon it and continue to run them on different blockchains. The solution is highly demanded: by the end of December 2023, users had already sent 90 million messages between blockchains and transferred assets worth $50 billion.
The project was launched by developers Bryan Pellegrino and Caleb Banister in 2021. Before that, they worked on Minimal AI (artificial intelligence-based design tools used by 140K designers) and OpenToken (software used to run tokens, which failed to gain an audience and, judging by social networks, was closed back in 2018). LayerZero is headquartered in Vancouver, Canada.
LayerZero has many prominent investors: the cryptocurrency division of the VC company a16z, the VC fund Sequoia Capital, the investment divisions of Circle (the issuer of the USDC stablecoin) and Samsung Electronics, the NFT marketplace OpenSea, and the auction house Christie’s.
Due to large investors backing, its market value reached $3 billion. This is approximately 3400th place in the ranking of the largest companies, next to the subsidiary of the German chemical and pharmaceutical transnational corporation Bayer-Bayer Crop Science ($3.01 billion) and the insurance company Kemper ($3.08 billion).
Market value is the price the owners could theoretically demand in order to sell the project. It is calculated based on all the team's assets and its overall success and helps to understand whether the business is growing or fading.
What is known about the LayerZero airdrop
The LayerZero team has not officially announced the airdrop, but everyone thinks it is coming soon, and here's why:
1. LayerZero is a popular crypto project that still does not have its own coin. Sooner or later, such projects launch cryptocurrency and distribute it through airdrops.
2. The project is now at the peak of its fame. This is a great time to launch an airdrop!
3. LayerZero code on GitHub contains data about a coin. After the initial launch, it will trade under the ticker (short name) ZRO.
Also, on December 8, 2023, the team confirmed plans to issue the token and promised to reveal all the details in early 2024.
How to prepare for the LayerZero Airdrop
The LayerZero team has not yet announced the airdrop, which means there are no official requirements. But crypto community members, based on their experience participating in other distributions, have compiled recommendations that will help users increase their chances of participating.
Developers often allow active users to participate in airdrops, so interacting with other LayerZero tools can increase the likelihood of participating in the airdrop. Here are some options:
✋ Vote at Stargate Finance. This is a cross-chain bridge that simplifies token swaps between different blockchains for further sale. Stargate Finance has its own token, STG, that you can use to vote. It would also not hurt to stake some STG.
🔁 Conduct transactions through the LiquidSwap Bridge. It helps transfer tokens between the Ethereum, Optimism, Arbitrum, BNB Chain, and Polygon networks.
💻 Interact with LayerZero-powered applications. Other developers use LayerZero to build their own applications on top of it. Here are some examples: the decentralised exchange Rage Trade, the stablecoin development Angle Protocol, and the yield aggregator Mugen Finance.
The more often you interact with LayerZero’s tools, the higher your chances of participating in the airdrop and the greater the number of free coins you may receive.
You can also prepare in advance for the address the airdrop will be sent to. It is not yet known what standard the LayerZero coin will be, but you can create several popular wallets that support many different standards: MetaMask or Trust Wallet.
Is it worth waiting for a LayerZero airdrop?
LayerZero is one of the highly discussed and anticipated airdrops in 2024. The team’s developments are in demand, so the LayerZero token will most likely also be in demand. Use LayerZero tools to increase your chances of participation and follow the project’s social networks to catch the details.
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This article is not an investment recommendation. The financial transactions mentioned in the article are not a guide to action. Itez is not responsible for possible risks. The user should independently conduct an analysis on the basis of which it will be possible to draw conclusions and make decisions about making any operations with cryptocurrency.