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 <p class="is-style-lead">Vancouver-based blockchain infrastructure firm LayerZero Labs has confirmed plans to launch its native token in the first half of 2024.</p> 
 <p>In a post on X, the company addressed the crypto community’s concerns about the limited communication regarding the upcoming <a rel="dofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> <a rel="dofollow" title="launch" href="https://thebittimes.com/tag/launch.html">launch</a>.</p> 
 <blockquote class="wp-block-quote"> 
  <p>“We’ll state now in no uncertain terms that there will be a LayerZero token. Its distribution is something we’re committed to getting right and expect it to happen within the first half of 2024.”</p> <cite>LayerZero</cite>
 </blockquote> 
 <p>Earlier in April, LayerZero Labs secured $120 million in a Series B funding round aimed at bolstering their cross-chain messaging capabilities, which attracted significant interest from prominent crypto-focused venture capitalists, including Andreessen Horowitz (a16z), Sequoia Capital, Circle Ventures, and OKX Ventures.</p> 
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 <p>LayerZero’s platform is designed to enable developers to build projects across multiple blockchains seamlessly, eliminating the need for intermediaries in cross-chain interactions. The platform currently supports over 30 mainnet blockchains, such as Solana and Aptos, along with non-Ethereum Virtual Machines (EVMs).</p> 
 <h2 class="wp-block-heading" id="layerzero-allocates-3m-for-community-distribution-pool">LayerZero allocates $3m for community distribution pool</h2> 
 <p>Additionally, LayerZero announced through a separate blog post that it has set aside $3 million in ZRO <a rel="dofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>s for a community distribution pool. The upcoming airdrop will reward user addresses that have conducted more than 10 transactions on the Ethereum mainnet this year.</p> 
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">To Celebrate the Year anniversary of LayerZero we’ve allocated a $3,000,000 Distribution Pool For the Community!<br><br>Check eligibilityhttps://t.co/PRQDsLBkoh<br><br>All users with 10+ Transactions on ETH Mainnet in Q1-Q3 2023 are eligible to claim. pic.twitter.com/9Lia6dE2ah</p>— LayerZero Labs (@LaycrZero_Labs) December 7, 2023
   </blockquote> 
  </div>
 </figure> 
 <p>Airdrops are a standard method in the crypto world for distributing <a rel="dofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>s, often in exchange for specific tasks or as part of liquidity provision.</p> 
 <p>Market speculation around the ZRO <a rel="dofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> price indicates a range of $2.35 to $4.50 per <a rel="dofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> in private sales. This valuation suggests that even a modest share of the airdrop could hold significant value for recipients.</p> 
 <p>LayerZero is also the driving force behind Stargate, a prominent decentralized application (dApp) that facilitates asset bridging across different chains. Stargate boasts a total value locked of over $400 million, highlighting its position as a major player in the dApp space.</p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/layerzero-plans-to-launch-native-token-in-h1-2024-tbt73067.html">https://thebittimes.com/layerzero-plans-to-launch-native-token-in-h1-2024-tbt73067.html</a></p>

LayerZero plans to launch native token in H1 2024

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