Layerzero Price Capable of Attracting Many Reactions, Will It Be Profitable?

Bittime - LayerZero launched the first ZRO token with a supply of 1 billion and an FDV of $4 billion. Although there is debate about airdrops and value fluctuations, the protocol is attracting attention with its current price of $2.56 and its efforts to prevent unauthorized manipulation of community campaigns.

Layerzero Launches Its Native Token ZRO

Last week, LayerZero, a cross-chain communications and messaging protocol, launched its native token, or ZRO. The token opened with a supply of 1 billion and had an FDV valuation of $4 billion when it hit a short-term high of $4.7 billion.

Since then, its value has continued to fall, valued at $3 billion FDV, on par with rival Wormhole (W), which launched its token earlier this year.

LayerZero Foundation Receives 5%

In the ZRO token creation event (TGE), 25% of tokens were unlocked on Day 1, with 8.5 percent available immediately in TGE, 11.0 percent proposed for snapshots and a future Claim Proposal (RFP) LayerZero Foundation received 5% of TGE, and 0.5 percent is given to community members.

However, the airdrop was not without problems. The unexpected change in airdrop acceptance has sparked heated debate, with many people criticizing and defending the protocol.

Layerzero Price Capable of Attracting Many Reactions

Layerzero is currently priced at $2.56. This airdrop also ends a weeks-long campaign led by Bryan Pellegrino, founder of LayerZero, against sybils that were simply using the protocol to collect larger airdrops.

Pellegrino stated that of the 6 million unique wallet addresses interacting with the LayerZero protocol, 1.28 million wallets were eligible for the airdrop.

Conclusion

The value of FDV has changed greatly since the launch of LayerZero's ZRO token, dropping from $4 billion to the current $3 billion. Although the airdrop, which constitutes 5% of the total supply, was designed to increase the community base, the unexpected change in acceptance has caused debate.

Despite this, LayerZero continues to attract attention with its current price of around $2.56 and its efforts to address strange airdrop manipulation.

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