LayerZero, a prominent player in the field of blockchain interoperability, has unveiled an innovative approach to token distribution that combines altruism and participation. In the case of their ZRO token, the blockchain entity has opted for an unconventional airdrop claim process where individuals can make direct donations to the development community.
Under this new project, users will need to pay $0.10 in ZRO tokens to claim a new token. Acceptable forms of donation include USDC, USDT, and . This unique model deviates from the traditional sales-dependent approach and instead focuses on a community-based distribution method. The goal is to raise up to $18.5 million, with 100% of the proceeds going to Protocol Guild, a collective of Ethereum developers.
LayerZero’s strategy involves managing the ZRO token claims through “Proof-of-Donation,” which was launched on June 20th and will run until September 20th. Recognizing the crucial role developers play in the blockchain ecosystem, LayerZero has chosen to support Ethereum developers through the claiming process and contribute to the advancement of our shared field.
Community response to this initiative and its broader impact has been mixed within the crypto-community. Some argue that the mandatory donation deviates from the spirit of airdrops, which are typically regarded as giveaways rather than taxes.
These actions have raised concerns among key figures in the industry, such as Banteg from Yearn Finance, who questions why Protocol Guild, a cause similar to many other projects in the data space, receives funding through this method.
Despite the criticisms, LayerZero’s move reflects a growing trend of incorporating charity into standard crypto operations. It could potentially serve as a model for projects aiming to give back to the wider ecosystem in their pursuit of broader distribution goals.
The funds raised will have a significant positive impact on Protocol Guild, with donations being vested over four years to support the long-term development of Ethereum’s core developers.
The ZRO claim is now live, and it is supported on Ethereum, Arbitrum, Optimism, Base, Polygon, BNB Chain, and Avalanche.
LayerZero’s decision to require a donation to claim tokens represents a bold step towards aligning crypto-economic activities with the common good and community benefits. This signifies a shift in the industry from purely technical innovation to considering the broader impact their work will have on the communities they operate in.
The foundation has confirmed that approximately 85 million ZRO tokens (8.5% of the initial circulating supply) can be claimed by authorized users. This move is part of a multifaceted approach to give back 38.3% of ZRO tokens to the community, with a significant portion allocated for future planned initiatives.
