Potential dark horse-ZRO (LayerZro) is about to debut!
According to the latest official news from LayerZero, their token $ZRO will officially enter the exchange on June 20! The trading channel is ready and is scheduled to open at 20:00 on the same day!
What is LayerZero?
LayerZero is a cross-chain compatible protocol designed to enable efficient and seamless message and transaction exchange between different blockchains. The protocol belongs to Layer 0, which creates the basic infrastructure on which Layer 1 blockchains such as Bitcoin, Ethereum, and Solana are built.
Layer 0 includes basic components such as protocols, connections, hardware, and miners to create a reliable support system for the blockchain ecosystem. LayerZero is a typical example of Layer 0, which provides a cross-chain message exchange system. LayerZero significantly improves the interoperability of blockchains by providing a decentralized, secure, and efficient mechanism to link and connect multiple blockchain networks!
Data comparison of the three giants of chain interoperability: who has the greatest potential?
There are three giants in this field, namely Wormhole, Axelar and LayerZero. Wormhole and Axelar have already been launched, and LayerZero is about to issue tokens.
1. As a chain interoperability protocol, the number of public chains supported is a very important indicator. According to official data from the three companies: Axelar supports a total of 66 public chains, Wormhole supports more than 30 public chains, and LayerZero supports more than 50 public chains.
2. Cross-chain information transmission:
The top 3 public chains for Axelar information transmission are Polygon, BNB Chain, and Arbitrum;
Wormhole’s top 3 are Arbitrum, Solana, and BNB Chain;
LayerZero’s top 3 are Polygon, BNB Chain, and Arbitrum;
3. Comparison of financing and market value
Therefore, it seems that each has its own advantages. From the perspective of currency price potential, the real data of LayerZero is still unknown, but the financing valuation is already as high as 3B, and it may reach 10B after listing, which is also 10 times that of Axelar.
LayerZero's excellent market performance
In terms of investment, the LayerZero protocol has attracted huge investments from top funds such as Binance Labs, a16z, Delphi Digital, Sequoia Capital, Multicoin Capital, and more than 40 other investors, totaling US$262 million!
These funds entered the protocol between August 2021 and April 2023, and most chose to invest at the bottom of the bear market. As of early April 2024, the LayerZero protocol has generated more than $115 million in total revenue and has more than 4 million unique users. According to statistics, the project's engagement on the official Twitter account is as high as 359 points, showing high user activity. In addition, the number of users on the official Twitter account continues to grow!
Additionally, the project’s VC followers on the official Twitter account include all funds that have invested in the project, including OKX Ventures, Binance and other ecosystems such as Aptos, Solana, Ethereum and Cosmos. The project itself is valued at $3 billion.
The protocol with the highest number of transactions in LayerZero is StarGate, LayerZero’s main bridge (and this number is growing all the time). The protocol currently utilizes $ZRO tokens as gas fees in the network’s native token.
Based on the information provided above, it’s safe to say that LayerZero is 100% a gem!
LayerZero Key Features:
Seamless cross-chain exchanges: The protocol works with Oracles and relay centers to enable efficient and secure message processing.
Extensibility and modularity: Developers can extend the core functionality of the protocol through libraries, which are part of the protocol’s set of smart contracts (implementing changes in the protocol while keeping the LayerZero code unchanged).
Compatibility: The protocol connects to over 50+ blockchains, including DeFi and NFT protocols, making LayerZero the most reliable cross-chain technology.
Simple UI: Cross-chain swaps are conducted as separate transactions, without the need for token wrapping and unwrapping.
Use Cases for LayerZero
Unlike other blockchain solutions, LayerZero has a simple message exchange system that opens up new possibilities for blockchain:
OFT: LayerZero advocates the concept of full-chain interconnection and supports blockchain platform networks with native compatibility. This standard allows the creation of tokens with native functions between multiple networks, including burning tokens in one network to support protocols in another network.
ONFT: ONFT is a non-fungible version of OFT that supports native-level token transfers and storage in networks that support this standard.
Cross-chain governance: DApps can leverage cross-chain voting for governance. This makes cross-chain voting an excellent solution in LayerZero to facilitate voting to approve changes, especially for DApps running on multiple protocols.
Convenience of cross-chain lending: The LayerZero protocol provides seamless processing of cross-chain lending transactions. Users can pledge assets in one network and receive funds on another network.
Now let's take a look at the project's ecosystem.
LayerZero Ecosystem
As mentioned earlier, the main DApp in LayerZero is Stargate Finance, which allows the transfer of crypto assets across multiple blockchains without wrapping the tokens in a single transaction (i.e., cross-chain swaps).
Benefits of LayerZero for Users
1. Smooth user experience: LayerZero enables users to seamlessly interact with decentralized applications (DApps) on multiple blockchains without worrying about compatibility issues. This seamless experience simplifies the user's use process and makes decentralized finance (DeFi), games, and other blockchain applications more accessible.
2. Cost-effectiveness: By eliminating multiple token exchanges and cross-chain transactions, LayerZero significantly reduces transaction costs. Users can move assets and data between different chains with minimal fees, thereby increasing the cost-effectiveness of the overall blockchain technology.
3. Improved security: LayerZero's architecture uses decentralized oracles and relays to ensure the security of cross-chain communications and is able to resist various attacks. This powerful security model protects users' assets and data from potential vulnerabilities associated with cross-chain operations.
4. Flexibility and scalability: The protocol adopts a modular design, allowing developers to easily integrate LaverZero into existing and new blockchain networks. This flexibility ensures that as the blockchain ecosystem continues to develop, LayerZero can be flexibly adjusted and expanded to support a wide range of application scenarios.
ZRO Token Distribution
Earlier, CEO Bryan Pellegrino announced the token economics of $ZRO and the possible airdrop distribution plan. He stated that the total supply of $ZRO is 1 billion, and the airdrop ratio to the community and developers is 23.8%, or 238 million. Among them, 8.5% of the tokens will be circulated on the first day, and the distribution is as follows:
Official bridge users: 5%
RFP projects (i.e. ecological users): 3%
Community pool: 0.5%
The majority of the remainder will be distributed over the next 36 months, with additional retroactive distributions every 12 months. This means that of the 238 million $ZRO airdropped, 85 million will be in circulation on the first day of listing, and the remaining 153 million will begin to unlock after 12 months.
Bryan Pellegrino also said that since the number of witches and RFPs has not yet been finalized, they conducted four allocation simulations. The following is the allocation of one of them (25 minutes, model 2):
Total number of qualified wallets: 823,376 (the qualified rate before the witch hunt was 27.44%, and the qualified rate after hunting 1 million witches was 41.16%)
Number of wallets that received 25-100 $ZRO: 694,774 (Total: 30,491,067.23 tokens)
Number of wallets with 100-1000 $ZRO: 122,448 (Total: 29,352,999.82 tokens)
Number of wallets with 1,000-10,000 $ZRO: 5,997 (Total: 11,420,971.35 tokens)
Number of wallets with more than 10,000 $ZRO: 157 (Total: 3,734,961.60 tokens)
LayerZero token ZRO pre-market price estimate
In the ever-changing and rapidly evolving world of blockchain technology, LayerZero is becoming a pioneer, revolutionizing the way blockchains communicate, interact, and protect data. LayerZero's network native token is - $ZRO, and its token is very popular on X, becoming one of the hottest projects discussed by everyone!
The current pre-market price of ZRO tokens has reached an astonishing 4u! Based on the current total amount of LayerZero tokens, Shiguang estimates that the token price will reach around 3-5u after ZRO goes online, or even higher!
