LayerZero is an omnichannel interoperability-facilitated protocol. The LayerZero technology helps to transfer large amounts of data with a censorless messaging facility through smart contracts that it describes to be immutable.
In the article, we will be going through the latest Airdrop announcement by LayerZero and looking at the steps through which a wallet holder can claim the tokens.
To begin with, let us first look at what the LayerZero project is and how it functions.
How does the LayerZero protocol work?
LayerZero works through a series of Relayers and Oracles as their basic operational entities to make sure that the message is received from one network to another network with improved security and reliability.
What are the details regarding its Airdrop announcement?
The Airdrop announcement was made by the LayerZero Foundations through X on 14 June.
The CEO of LayerZero took it to X to announce that they will be releasing almost 23.8% of their token supply through the airdrop to the participants.
The revealed supply of ZRO tokens was said to be 1 billion in volume.
The supply of the token was planned to be conducted with 8.5% of the token to be distributed on the first day while the rest was to be given throughout the following 3 years from the launch of the Airdrop.
Steps to claim LayerZero tokens through their Airdrop
These are the steps and conditions set forward by the LayerZero foundation that one must follow to become eligible to claim the Tokens.
The Airdrop eligibility that the foundation outlines was based on three major factors. The factors are Sybil Filtering, Request for Proposal (RFP), and the other eligibility criteria.
Step 1
Navigating to the Airdrop Page: The participants who would like to claim their tokens must access the official Airdrop page set by LayerZero foundations
Step 2
Connect your wallet to the network: In the second step, you can paste your crypto wallet address in the space provided to check for your eligibility for the free tokens.
There should be a list of compatible wallets displayed for you to select from. The user must make sure that the wallet that they have given is active and secured.
Step 3
The third step will require you to grand the site with all the necessary permissions.
The user must also make sure to be careful not to hand out their private key details to any website no matter what.
Step 4
The last and final step will be to navigate to the “Claim Airdrop” segment and follow the instructions as seen on the screen to claim your coins.
These are the simple steps that one must follow in order to claim their free tokens through the LayerZero Airdrop event.
The criteria that the LayerZero Foundation has listed to become eligible for the free tokens are given in the section below.
What are the Eligibility criteria to get free tokens set by LayerZero Airdrop?
The only eligibility criteria that the LayerZero foundation has set up by far for participating was for the recipient to donate 10 cents worth of either ether or any stablecoin for the coins they wished to claim.
The obvious eligibility requirement of having an active crypto wallet still stands along with the criteria.
Now let us look at the backlash that LayerZero Foundation faced in recent days and the reasons behind it.
What was the cause for the recent backlash that LayerZero faced?
There were a few things that made the Airdrop controversial and a few of the reasons are given below:
Complaints about inadequate allotment: A lot of the users expressed their frustration with the initial allotment percentage of 8.5% by saying that the share allotment on the first day was set too low.
Others had a complaint saying that the allotment of tokens that they received did not match up with the volume of their transaction.
One such example that a user posted showed hope he had received only 39.28 ZRO despite being amongst the top 0.13% of all the LazerZero users.
There were many such complaints that the participants expressed but the major one so far was all the people who had a problem with their new claiming mechanism called ‘Proof-of-Donation’.
The ‘Proof-of-Donation’ mechanism was introduced by the foundation claiming it to be a way to support its network teach through the donations raised from the participants of the Airdrop.
This was criticized widely as many users felt that the donation felt forced on the part of the participant.
Final Thoughts
The LayerZero protocol despite being one of the most used and experimented protocols to exist in the web still had to face the wrath of its investors due to the conditions that they set in order to claim their Airdrop.
This seems to have shaken up the confidence of their users and sent the price of the token down by 20% from its previous price.
However, the steps laid out by the company to participate in the Airdrop seem simple enough for even an amateur enthusiast. The steps have been discussed in the required detail in the article and can help you take part in the event if interested.
