LayerZero Launches L1, Confirms $ZRO Airdrop
Interoperability protocol LayerZero has launched its own Layer 1 blockchain, named "Zero." The project, backed by Citadel and ARK Invest, also confirmed details for its $ZRO airdrop, with eligibility simplified to voting on its governance portal. The community airdrop will reportedly account for 10% of the total token supply.
- The new Layer 1, named "Zero," is architected to be a "decentralized multi-core world computer" targeting institutional-grade financial transactions and settlements. It will launch with three distinct, permissionless environments called "zones" for different use cases: a general-purpose EVM-compatible environment, a private payment system, and a dedicated trading and matching environment. - The Zero blockchain aims for a processing capacity of up to 2 million transactions per second (TPS) per zone, with transaction costs projected to be as low as $0.000001. This is achieved by using zero-knowledge proofs to separate the work of transaction execution from verification. - A new advisory board has been formed to support Zero, featuring prominent figures from traditional finance. Members include Cathie Wood, CEO of ARK Invest; Michael Blaugrund, VP of Strategic Initiatives at Intercontinental Exchange (the parent company of the NYSE); and Caroline Butler, former head of digital assets at BNY Mellon. - Beyond the previously mentioned backers, LayerZero has secured additional strategic partnerships with major financial and tech institutions. The Depository Trust & Clearing Corporation (DTCC), which processes quadrillions in securities annually, and Google Cloud are collaborating with LayerZero to explore the new chain's capabilities. - The native token, $ZRO, will shift from being solely a governance token for the cross-chain protocol to also securing the new Zero blockchain. The total supply is 1 billion tokens. - Citadel Securities has not only invested in LayerZero but has also made a strategic investment directly in the $ZRO token. ARK Invest is also taking a position in both LayerZero equity and the $ZRO token. - LayerZero's initial airdrop in June 2024 distributed 8.5% of the total $ZRO supply to 1.28 million eligible wallets, rewarding genuine protocol usage based on metrics like fees paid and transaction frequency. A subsequent airdrop is anticipated in Q2 2025. - The launch of the Zero L1 is planned for the fall of 2026 and will integrate with LayerZero's existing interoperability protocol, connecting it to over 165 blockchains from its inception.
