LayerZero team announces native token airdrop

The LayerZero Labs, the company behind the LayerZero omnichain protocol, said it plans to conduct an airdrop of its native token in the first half of 2024.

LayerZero has always been built with the ability to have a native token within the protocol, as can be seen in the immutable code launched on day 1. We’ve heard the community discussion over the last few months and the lack of clear communication around this. We’ll state now in…

— LayerZero Labs (@LayerZero_Labs) December 7, 2023

Over the past several months we have observed discussion in the community and a lack of clear communication on this matter. We now unequivocally state — the LayerZero token will be,

According to the developers, the ability to issue its own coin was originally present in the project’s code.

The team noted that it aims to “achieve a proper distribution” of the asset. The amounts will depend on wallet activity.

The developers did not disclose other details of the planned token distribution.

In April, LayerZero Labs raised $120 million in a Series B round, valuing the company at $3 billion.