Cross-chain Protocol LayerZero Confirms Token Airdrop in First Half of 2024
LayerZero Labs, a blockchain infrastructure supplier, has revealed its intention to launch a token within the first half of 2024, in line with a publish on X.
LayerZero Labs, a blockchain infrastructure supplier, has revealed its intention to launch a token within the first half of 2024, in line with a publish on X. The Vancouver-based firm acknowledged the neighborhood’s hypothesis surrounding the creation of a token and addressed the shortage of clear communication on the matter.
Within the publish, LayerZero emphasised its dedication to introducing a LayerZero token and acknowledged that the distribution course of is a precedence that they goal to execute appropriately. The corporate expects the token launch to happen inside the first half of 2024.
LayerZero Labs has been using its important enterprise capital to boost interoperability and cross-chain messaging infrastructure. This enchancment allows decentralized software builders to securely join with completely different blockchains. Notably, decentralized exchanges PancakeSwap and Uniswap are among the many on-chain purposes that make the most of LayerZero’s companies.
Earlier this 12 months, the corporate efficiently closed two separate enterprise capital rounds, elevating a complete of $255 million. These investments deliver LayerZero’s valuation to $3 billion. Outstanding buyers, together with Andreessen Horowitz (a16z) and Sequoia Capital, co-led the preliminary $135 million funding spherical and had been concerned within the subsequent $120 million spherical. These profitable funding rounds adopted a $2 million seed funding spherical only a 12 months prior and a $6 million Sequence A spherical eight months prior.
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