LayerZero is a fully connected mesh network that enables smart contracts from different blockchains to communicate with each other. This cross-chain interoperability technology is considered a significant solution for connecting value on decentralized networks. Following a teaser last year, the protocol disclosed its first snapshot on May 2.
In the realm of decentralized finance (DeFi), snapshots refer to the on-chain capture of wallet addresses engaging with a project’s blockchain or decentralized application (dApp). Snapshots help teams track user engagement and reward early participants within a specific timeframe. Users often use snapshots to assess a project’s readiness to launch tokens, and such announcements can lead to reduced activity as airdrop farmers may believe they have secured eligibility for free tokens and reallocate resources to other initiatives.
The specifics of LayerZero’s airdrop remain unknown as the team has not released the tokenomics. While data providers like CoinGecko have listed a ZRO token for some time, the details about the token, other than the ticker, are not available. Although the funds raised are not a definitive method for determining the value of an airdrop, a healthy cash vault can sometimes lead to a larger allocation for users.