LayerZero launches Proof-of-Donation mechanism

LayerZero, a prominent player in the blockchain industry, has rolled out its latest initiative, the Proof-of-Donation mechanism. This new feature aims to support Ethereum’s core development team via the Protocol Guild, a collective dedicated to funding the research and development of Ethereum’s Layer 1.

Users wishing to claim LayerZero’s native token, ZRO, are required to make a donation. The specifics? A minimal amount of $0.10 per ZRO token, which can be donated using popular cryptocurrencies such as USDC, USDT, or native ETH.

The LayerZero Foundation has pledged to match these contributions dollar for dollar up to a staggering $10 million. Per the announcement, all funds received by the Protocol Guild are set for a vesting period spread over four years, ensuring a sustained support system that’s tracked and transparent, thanks to their on-chain contracts.

For users eager to participate, the claim window is open from June 20 through September 20. This program is inclusive, extending beyond just Ethereum, as participants can claim their tokens across several chains, including Arbitrum, Optimism, Base, Polygon, BNB Chain, and Avalanche.

Related: Ecosystem thrives after LayerZero’s airdrop confirmation

However, it’s important to note that claims across these networks will require a LayerZero message for verification, except in the case of Arbitrum, which acts as the coordination chain for this particular contract.

Meanwhile, South Korea’s largest exchange, Upbit, has introduced trading markets for LayerZero (ZRO) in KRW, BTC, and USDT. The action kicks off at 21:00 local time on June 20. Not to be outdone, both OKX and Bithumb have also announced their intentions to launch LayerZero (ZRO) on their platforms.

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Jai Hamid