LayerZero Labs, a outstanding participant within the blockchain interoperability house, has formally introduced its plans to launch a local token throughout the first half of 2024.
This announcement comes after months of neighborhood hypothesis and discussions relating to the potential of a local token within the LayerZero protocol.
LayerZero Labs, identified for enabling the switch of information and belongings throughout totally different blockchains, has been a subject of curiosity within the blockchain neighborhood, particularly following its monetary milestones.
In April 2023, the corporate efficiently raised $120 million in a Collection B funding spherical, catapulting its valuation to a powerful $3 billion.
This funding spherical, led by notable traders together with Sequoia, FTX FTT/USD, a16z, and others, marked a major achievement for LayerZero Labs, solidifying its place as a key participant within the blockchain business.
Whereas the specifics of the token launch, together with the phrases of any potential airdrop, stay underneath wraps, there may be hypothesis about whether or not the snapshot for airdrop eligibility has already been taken.
LayerZero Labs has not but disclosed these particulars, indicating that the planning and execution of the token launch are nonetheless in progress.
The corporate’s focus is on guaranteeing that the distribution of the token aligns with its dedication to the neighborhood and the general well being of the protocol.