In order to determine eligibility for a possible user airdrop, LayerZero Labs completed the first snapshot, which evaluated transactions up to 11:59:59 PM UTC on May 1, 2024.
Cross-chain communication protocol developer LayerZero Labs has completed the first snapshot for a potential airdrop to its community members.
The snapshot, which indicates the final instant when transactions are taken into account for airdrop eligibility, was finished at 11:59:59 PM UTC on May 1, 2024, the team revealed in a graphic posted on X. “More information coming soon,” they said.
Airdrops are a part of a larger plan to incentivize early adopters and distribute governance power throughout a network.
Although the specific benefits of participating in the network are still unknown, the timing is consistent with the company’s earlier announcement that a token launch is planned for the first half of 2024.
Declaring this picture to be the “first” means that there will be more airdrops in the future.
An interoperability protocol called LayerZero makes it easier for data, assets, and information to be transferred between various blockchains.
LayerZero raised $120 million in Series B funding in April 2023, valuing the business at $3 billion.
