DeFi
LayerZero Airdrop Allocations Disappoint DeFi Users
The cross-chain messaging protocol released its official airdrop allocation checker on June 19.
Omnichain interoperability protocol Layer Zero has released its airdrop eligibility checker for its upcoming ZRO token ZRO, and many users are frustrated with the size of their allocations.
Next to a poorly After receiving the ZkSync airdrop earlier this week, many farmers and DeFi users felt disappointed after receiving small ZRO allocations despite regular use of the protocol.
Although there is no official breakdown of eligibility criteria yet, the distribution method appears having favored holders of Pudgy Penguins and Kanpai Pandas, as opposed to those with high transaction counts or wallets that hold Gh0stly Gh0sts, the first-ever “omnichain” NFT to mine LayerZero in 2022.
ZRO is together to launch later today.
The allocation took into account various criteria, including total transactions using a LayerZero integrated dApp, NFTs held by launch partners, liquidity provided through Stargate Finance, and bonuses and multipliers for early adopters.
Nearly 1.28 million wallets are eligible for the airdrop, with 8.5% of the total community allocation of 23.8% is expected to be distributed during the token launch tomorrow. The remainder will be distributed over the next three years in the form of retroactive awards, builder incentives and community distributions.
Between the 8.5% allocation expected to flow on TGE and nearly double the number of eligible wallets compared to ZkSync, many users might have expected more modest rewards initially.
ZRO’s pre-market valuation stands at $4.5 per ParBit And Kucoinwhich would equate to a fully diluted value (FDV) of $4.5 billion.
State of Agriculture Airdrop
Airdrop farmers are growing increasingly fatigued as their return on investment begins to diminish with each new airdrop. Meanwhile, protocols feel the wrath of their communities as their protocols become oversaturated and farmers act more legitimately.
Echo.xyz founder Cobie responded to a tweet regarding the modern state of airdrop farming and said, “If you’re a founder, IMO, you’re probably considering not doing an airdrop at all these days; the disadvantages are now much greater than the advantages.