LayerZero Targeting Token Launch Next Year
LayerZero, a blockchain interoperability protocol, has confirmed its intention to launch a token after months of speculation. The protocol, which allows users to move data and assets across blockchains, has always been built with the ability to have a native token within the protocol.
The project has committed to ensuring the distribution of the LayerZero token, which is expected to happen within the first half of 2024. The token will be handed out through an airdrop, a common method of rewarding early users with tokens. The protocol’s users will be the best ones to decide how it should develop. LayerZero raised $120 million in a Series B funding round in April 2023.
(With inputs from Shikha Singh)
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