Rumors Circulate as LayerZero Prepares to Introduce Token Following Snapshot

By 0xK2 05/23/23 9:55 AM

In the world of cryptocurrency, rumors can spread like wildfire, and today the crypto community is buzzing with news about LayerZero, a crosschain bridge project that has allegedly conducted a snapshot in preparation for the launch of its token.

The Twitter account @0xKevin00, hailing from China, broke the news that LayerZero had completed the snapshot. According to the tweet, the project is set to release its token in the second quarter, specifically in the month of June.

有个坏消息：

Layerzero已经快照完成了，发币将在Q2也就是6月上线

刚收到线报，顶层撸毛工作室大哥透露的，L0已经快照。之前他透露给我的arb和sui都比较准确，这次99%真实

哪些地址会被反撸：
1⃣️开始一个月的地址
2⃣️交互不足5 txs
3⃣️跨链不足2条的
4⃣️链上行为一致的
5⃣️10个地址互转

— 𝟎𝐱Kevin（🖤，💙） (@0xKevin00) May 22, 2023

“I just received information from Lumao Studio that LayerZero has been snapshot. The previous predictions they shared with me about Arbitrum and Sui were quite accurate, so I believe this information is 99% true,” disclosed 0xKevin.

At the same time, the source revealed that approximately 99% of wallet addresses would be excluded from the airdrop program. Some of the conditions for exclusion include having fewer than 5 transactions, less than 2 crosschain interactions, interaction with more than 10 addresses, and consistent on-chain behavior.

Currently, LayerZero has not responded to these reports, leaving the crypto community eagerly awaiting an official statement from the project.

LayerZero is a crosschain infrastructure protocol that aims to facilitate the seamless transfer of assets and data between different blockchains. The project has garnered a significant user base, not only due to the quality of its products but also because of the rumor surrounding an airdrop. Although LayerZero has not officially announced the token launch, the project’s litepaper on GitBook mentions the “ZRO” token, hinting at a potential token release.

🚨Airdrop Alert🚨

Bitget & Bitkeep announced the #LayerZero Certificate Airdrop, and now #OKX is hinting at an Airdrop for @LayerZero_Labs too? 👀$ZRO will be snapshot soon 🪂

🧵Here’s what you should do to be eligible: pic.twitter.com/baVf2nR8ck

— Ethereum Daily (@ETH_Daily) April 25, 2023

The activity surrounding the hunt for airdrops intensified after the company announced a successful Series B funding round, raising $120 million at a valuation of $3 billion on April 4. Such rumors are not uncommon in the cryptocurrency market.

Previously, many social media accounts spread rumors about a snapshot event for MetaMask on March 31, which would be followed by an airdrop. The rumors led to a significant surge in activity on the MetaMask platform.

According to Scope Protocol data, the cryptocurrency wallet project recorded 2,352 new users and 13,644 transactions, the second-highest level in the past 90 days. However, on March 29, MetaMask’s official account debunked the rumors.

As the crypto community eagerly awaits further updates from LayerZero, it remains to be seen if the snapshot and subsequent token launch will come to fruition. In the ever-evolving landscape of cryptocurrencies, rumors often prove to be just that—rumors.