Rumors Circulate as LayerZero Prepares to Introduce Token Following Snapshot
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.
— 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.
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.
- LayerZero Faces Backlash From Ethereum Users Over Financialization Of Goerli Testnet
- Goerli Testnet Token (GETH) Value Surges Due To LayerZero’s Cross-Chain Project
- LayerZero’s Omnichain Interoperability Protocol Now Live On Polygon’s ZkEVM Mainnet
- LayerZero Goes Live On ZkSync Era Mainnet, Enabling Seamless Message Passing Across 30 Chains