The Defiant

LayerZero To Launch Token In 2024

Leading cross-chain messaging protocol has confirmed that it will launch a token in the first half of next year.

By: Owen Fernau Loading...

LayerZero To Launch Token In 2024

LayerZero has sent a jolt through the perennially online community of crypto enthusiasts with a post on X.

“We’ll state now in no uncertain terms that there will be a LayerZero token,” the project said. “Its distribution is something we’re committed to getting right and expect it to happen within the first half of 2024.”

LayerZero’s technology underpins Stargate, which, at $607M in volume, had been the third most-used bridge in the past 30 days. Stargate is also the most active bridge by volume when excluding solutions designed only to connect two specific blockchains, like Arbitrum and Ethereum.

The announcement comes as Bitcoin and Ethereum hit fresh yearly highs, and massive token launches like JITO and TIA have reminded crypto enthusiasts that airdrops can mean five-figure windfalls.

The DeFi community has long expected LayerZero to release a token, and airdrop hunters have been actively using the platform, hoping to be rewarded.

LayerZero Usage Metrics
LayerZero Usage Metrics

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