The long-awaited super "big hair" LayerZero is finally here. If you haven't checked your eligibility, don't click on the link in the comment area of ​​​​Twitter at will. You can go to the giveaways page of OKX to check the relevant link, good luck! #LayerZero

You can also check out the Eigenlayer Season 1 Phase 2 airdrop, which is much larger than layerzero for average users.

Recently, the LayerZero airdrop has sparked widespread controversy and discussion. Although the community had high hopes for the LayerZero airdrop, the actual results disappointed many users. Most users received far fewer ZRO tokens than expected, and some users even invested a lot of time and energy but only received a small number of tokens. In addition, users holding Kanpai Pandas NFTs received a higher number of tokens, which raised questions about "rat trading".

Today we will also record the entire process of this "century" airdrop.

Witch Purge in the spotlight

We will not give many examples of early long-term PUA user behavior. In the past month, in order to ensure the fairness of the airdrop, LayerZero implemented a one-month witch cleansing operation. Through the self-surrender of users, witch addresses are exposed, which can retain a part of the airdrop share; at the same time, the official will also screen and remove witch accounts; the most exaggerated thing is that anyone can submit a report through Github, and the successful reporter will receive 10% of the airdrop allocation of the reported person. Such a large-scale witch cleansing activity has caused a large number of studios and even retail accounts to be reported as witch accounts, and years of hard work have been burned.

The small amount of community allocation caused strong dissatisfaction

Although a lot of witch addresses have been removed, in fact, even the top 5% of users can only receive a pitiful 200 tokens, and the current market price is only about 700u, which is very inconsistent with its super-high valuation financing and the so-called "big hair" identity. You should know that W's airdrop at that time should have only required a few cross-chains to easily get single-number or even double-number airdrops of thousands of u. In comparison, LayerZero really seems very stingy. Users questioned the results and distribution methods of the airdrop, believing that the LayerZero airdrop lacked sincerity.

At the same time, LayerZero has also been rumored to have "rat trading". Many users have invested a lot of money but gained little, while some users who hold Kanpai Pandas' NFTs have received high returns of tens of thousands of ZRO tokens. However, according to nftgo data, there is no obvious correlation between the peak of Kanpai Pandas' trading volume and the LayerZero airdrop snapshot time, and its official Twitter has been operating well. Therefore, Kanpai Pandas' "rat trading" is questionable.

Forced donations and high gas prices sparked dissatisfaction again

LayerZero has launched a new claiming mechanism called "Proof of Donation", which will donate up to $18.5 million to Protocol Guild, a collective funding mechanism for Ethereum Layer 1 R&D developers. To claim ZRO, users must donate $0.10 in USDC, USDT, or native ETH for each ZRO, and this small donation will be donated directly to Protocol Guild. According to the Protocol Guild's on-chain contract, donations received by Protocol Guild will be redeemed within four years. The LayerZero Foundation will match all donations, with a cap of $10 million. At the same time, if you want to claim rewards from other second-layer chains, you also need to pay the cross-chain to mainnet fee at the same time, so the gas is also surprisingly high. Now many exchanges have proposed to deposit and withdraw to relevant exchanges, and the subscription amount can be returned, which is also a good way to attract traffic.

The recent airdrop distribution of multiple projects has caused controversy

Not only ZRO, but also the recent ZK airdrop, due to a series of mysterious operations such as the number of qualified addresses being far less than the predicted value, the opaque decision-making rights, being distanced by Nansen, and the frequent appearance of suspicious addresses without direct official response, it has also been caught in the "rat trading" storm. Previously, AltLayer was also hotly discussed by the community for "rat trading" due to OG NFT. It is not completely certain whether ZRO is a rat trading, but zksync is definitely a foregone conclusion, and it is extremely shameless.

Are there any chances for airdrops in the future?

From ZRO's "largest-ever" witch cleansing campaign, many studios have been frustrated. It is actually very cruel to pay real money without any return. Such a move is to airdrop tokens to real users, rather than to sell them collectively as soon as they go online. It will also be imitated by more projects in the future to a certain extent. How the studio should continue to develop is actually facing a very big challenge. And such a business model of projects in which VCs blindly push up valuations and consume users or studios to create false prosperity will gradually be eliminated after damaging the interests of real users again and again.

Despite the challenges in the airdrop market, there are still new projects worth paying attention to, such as Manta Network, Canto, and DappRadar, which have attracted the attention of many users through innovative distribution methods and extensive community participation.

Price Analysis

It has been listed on multiple exchanges. As of the time of writing, ZRO is quoted at $3.78 and its FDV is 3.84 billion. ZRO raised 263 million and is valued at 3 billion. Compared with the starting FDV of STRK and W, which were about 3-5 times higher than those of the previous offerings, ZRO's current FDV is only 28% higher than the valuation. In fact, the current price performance is still very average. However, referring to the prices of STRK and W, W is valued at 2.5 billion and its current FDV is 3.5 billion, an increase of 40%. STRK is valued at 8 billion and its current FDV is 7.1 billion, a decrease of 11%. In fact, the current price is suitable for long-term sales, but if you want to gain a high FDV with short-term fluctuations, the overall profit and loss ratio is actually quite average.

When we judge the price trend of a token, financing valuation and market sentiment are indicators that we need to refer to very much, and can also help us make a relatively correct investment decision.







in conclusion

The LayerZero airdrop event revealed many problems in the current Web3 industry in terms of token distribution, prompting the industry to think about a more fair and transparent distribution mechanism. Future airdrop projects should learn from the lessons and optimize the distribution model to enhance user experience and community trust.