The LayerZero Foundation has officially closed the ZRO token claim period and started the process of reallocating unclaimed tokens. They’ve detailed the criteria for determining eligible wallets, how the reallocation will work, and the process for claiming additional tokens on their X account.
The ZRO claim period has ended. Any unclaimed tokens are being reallocated to wallets that claimed before 9 AM PT today.
Eligibility for reallocation:
– Ineligible: Wallets that claimed ZRO but had no transactions after the Token Generation Event (TGE) will not receive any more… pic.twitter.com/rOBimR8Fx0— LayerZero Foundation (@LayerZero_Fndn) September 20, 2024
How ZRO Tokens Will Be Reallocated
The Foundation explained that only wallets that both claimed ZRO and made transactions after the Token Generation Event (TGE) are eligible for more tokens. Wallets without transactions after the TGE, and those flagged as Sybil during the first and second review rounds, won’t receive any further allocations. This approach prioritizes active LayerZero users after the TGE.
Read also : LayerZero’s ZRO Token Surges 36% Weekly, Eyes $4.00 Resistance Level
Eligible wallets will get their additional ZRO tokens through a pro-rata distribution system based on their original token claim during the TGE. Plus, users who spent more on gas fees after the TGE will get a bigger share of the tokens originally meant for ineligible wallets.
The Foundation has asked users to claim their tokens from the same chain they originally used, especially highlighting that Aptos users should claim from their EVM wallets.
Reclaiming Tokens and Extra Rewards
Users eligible for token reallocation can claim their tokens in three easy steps. They need to log in to the $ZRO Claims Homepage, check their reallocation status, and claim their tokens. They also pointed out that users have 30 days to claim their tokens, after which unclaimed tokens will go to the LayerZero Foundation.
Read also : LayerZero Labs Cracks Down on Insider Airdrop Participation
On top of that, the Foundation has launched the LayerZero Pilot Quest, allowing users to complete quests to boost their ZRO allocation even more. This comes after the recent conclusion of the ZRO token reallocation process.
LayerZero’s lzCatalyst Program
Earlier this month, the LayerZero Foundation kicked off the lzCatalyst program to support projects integrating LayerZero’s technology. With up to $300 million in funding, the program connects developers with venture capital firms. Launch partners include a16z Crypto, Atrum, Delphi Ventures, and Animoca Brands.
Introducing lzCatalyst
LayerZero Foundation is launching lzCatalyst, a program dedicated to connecting the best builders with the best venture capital firms in crypto.
As lzCatalyst launch partners, a16z Crypto, Animoca Brands, Atrum, Delphi Ventures, Faction, Franklin… pic.twitter.com/zmDevqnvau
— LayerZero (@LayerZero_Core) September 17, 2024
The lzCatalyst initiative focuses on building omnichain applications, which allow for smooth interaction between different blockchain networks.
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