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AltcoinsLayerZero Introduces DonationBased Token Claims Aiming for 185M Charity Boost

LayerZero Introduces DonationBased Token Claims Aiming for 185M Charity Boost

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LayerZero, a prominent player in the blockchain interoperability sector, has introduced a groundbreaking method of distributing tokens that combines altruism and participation. In an unconventional airdrop claim process for their ZRO token, the blockchain entity allows people to donate directly to the development community.

In this new project, users are required to pay $0.10 worth of ZRO tokens to claim a new token. Acceptable forms of donation include USDC, USDT, and others. This unique model deviates from the traditional sales-dependent approach and instead focuses on community-based distribution. LayerZero aims to raise up to $18.5 million through this method, with 100% of the proceeds going to Protocol Guild, a collective of Ethereum developers.

LayerZero’s approach involves managing ZRO token claims through “Proof-of-Donation,” which was launched on June 20th and will continue until September 20th. Recognizing the fundamental role developers play in the blockchain ecosystem, LayerZero has chosen to donate directly to them through the claiming process, acknowledging their significant contribution to our shared field.

The response from the crypto-community to this initiative has been mixed. While some view the compulsory donation as a departure from the usual spirit of airdrops, which are typically seen as gifts rather than taxes, others see it as a positive step towards benefiting the community and driving innovation within the Ethereum ecosystem.

Notable figures in the space, such as Banteg from Yearn finance, have expressed their reservations about why Protocol Guild, which supports projects in the aggregate data space, receives funding through this method when other projects with similar goals do not.

Despite the criticisms, LayerZero’s move highlights a growing trend of incorporating charity into regular crypto operations. It could potentially serve as a model for projects to give back to the wider ecosystem while pursuing their distribution goals.

The funds raised through this initiative will have a significant positive impact on Protocol Guild. The donations will be vested over four years, providing long-term support for Ethereum’s core developers.

Claiming of ZRO tokens is currently live, and it is supported on various chains, including Ethereum, Arbitrum, Optimism, Base, Polygon, BNB Chain, and Avalanche.

LayerZero’s decision to require a donation to claim tokens represents a bold step towards aligning crypto-economic activities with the greater good and community benefits. It signifies a shift in the industry from purely technical innovation to considering the impact their work will have on the surrounding communities.

The foundation has stated that authorized users can claim approximately 85 million ZRO tokens, which accounts for 8.5% of the initial circulating supply. This move is part of a comprehensive strategy to give back 38.3% of ZRO tokens to the community, with a significant portion allocated to future planned initiatives.

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