{"id":81985,"date":"2024-06-20T11:11:23","date_gmt":"2024-06-20T15:11:23","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=81985"},"modified":"2024-06-20T11:12:49","modified_gmt":"2024-06-20T15:12:49","slug":"layerzero-introduces-proof-of-donation-claiming-mechanism","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/layerzero-introduces-proof-of-donation-claiming-mechanism\/","title":{"rendered":"LayerZero Introduces \u2018Proof-of-Donation\u2019 Claiming Mechanism"},"content":{"rendered":"\n

LayerZero's ‘Proof-of-Donation' mechanism lets users claim ZRO tokens by supporting Ethereum<\/a> developers by donating to Protocol Guild.<\/p>\n\n\n\n

\"LayerZero<\/figure>\n\n\n\n

LayerZero is currently in the process of establishing a new “Proof-of-Donation” system for claiming ZRO tokens.<\/p>\n\n\n\n

However, by contributing $0.10 per ZRO token in USDC, USDT, or ETH, users can obtain ZRO through this system.<\/p>\n\n\n\n

A primary beneficiary of these donations will be Protocol Guild, an organization that provides financial support to Ethereum developers.<\/p>\n\n\n\n

Protocol Guild will receive $18.5 million in donations from the LayerZero Foundation<\/a>, which will match all contributions up to $10 million.<\/p>\n\n\n\n

LayerZero\u2019s Protocol Guild and Ethereum Support<\/h2>\n\n\n\n

LayerZero rolled out a new “Proof-of-Donation” claiming process, which has led to a substantial $18.5 million donation to ProtocolGuild, a funding collective for Ethereum developers.<\/p>\n\n\n\n

Meanwhile, ProtocolGuild and Ethereum's core developer teams have been instrumental in LayerZero's expansion, which has facilitated the adoption of the Ethereum Virtual Machine (EVM), Ethereum's Layer 2 roadmap, and the broader crypto ecosystem.<\/p>\n\n\n\n

Eligible recipients can demonstrate their dedication to the crypto's future and their long-term alignment with the LayerZero protocol by contributing to ProtocolGuild.<\/p>\n\n\n\n

In addition, users must donate $0.10 in USDC, USDT, or native ETH per ZRO token to claim ZRO tokens.<\/p>\n\n\n\n

These small donations are made directly to ProtocolGuild, a non-profit organization that supports Ethereum's core researchers and developers.<\/p>\n\n\n\n

ProtocolGuild's on-chain contracts mandate that the donations received be vested over four years.<\/p>\n\n\n\n

The LayerZero Foundation\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> will match all donations up to $10 million.<\/p>\n\n\n\n

Airdrop Details and Market Response<\/h2>\n\n\n\n

LayerZero, an omnichain interoperability protocol, implemented an airdrop for its native token, ZRO.<\/p>\n\n\n\n

The airdrop offered a 25-minute window for core participants to claim up to 5,000 tokens, followed by a 5-minute window for participants who responded to requests for proposals (RFPs) to claim up to 10,000 tokens.<\/p>\n\n\n\n

Moreover, participants had to verify their eligibility on the LayerZero eligibility checker before participating.<\/p>\n\n\n\n

The reward system provided 3 times the tokens for early transactions, an additional ten ZRO for late transactions, and an 80% reduction in token allocation to possible Sybil accounts.<\/p>\n\n\n\n

Meanwhile, the team made an intriguing attempt to ensure that Sybil hunters were included in the airdrop checker portal to ensure adequate allocation.<\/p>\n\n\n\n

After the successful airdrop, prominent cryptocurrency exchanges such as Binance<\/a> and Upbit announced listings for LayerZero's ZRO token, enabling users to commence trading it on June 20th.<\/p>\n","protected":false},"excerpt":{"rendered":"

LayerZero’s ‘Proof-of-Donation’ mechanism lets users claim ZRO tokens by supporting Ethereum developers by donating to Protocol Guild. LayerZero is currently in the process of establishing a new “Proof-of-Donation” system for claiming ZRO tokens. However, by contributing $0.10 per ZRO token in USDC, USDT, or ETH, users can obtain ZRO through this system. A primary beneficiary […]<\/p>\n","protected":false},"author":56,"featured_media":81991,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[20125],"class_list":["post-81985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-layerzero-zro"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/06\/LayerZero-Introduces-\u2018Proof-of-Donation-Claiming-Mechanism.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/81985","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=81985"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/81985\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/81991"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=81985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=81985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=81985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}