LayerZero has been making significant developments ranging from integrating with multiple blockchains (75 to be precise), to launching its own token (
ZRO), and implementing innovative measures to tackle Sybil activity. The Flare Network leverages LayerZero to establish a connection with a considerable number of blockchains. To increase usage and attract users, LayerZero held a token airdrop, which unfortunately drew criticism due to the complexities involved and some users being disappointed with their allocations. Despite this, the ZRO token surged 40% over a weekend, defying the trend of recent airdrops. Among LayerZero's key initiatives is the integration of Solana into its Cross-Chain Bridge Network, as well as becoming the default interoperability solution for
Animoca Brands. Equally notable were the debates on which bridge protocol offers the cheapest services provided by Across Protocol and LayerZero Labs. LayerZero aimed to tackle Sybil activity by demanding airdrop users self-report or face exclusion, a move that got mixed feedback. The CEO also announced a pause on the Sybil 'bounty-hunter' process due to an influx of reports. Amidst all these, LayerZero managed to achieve a valuation of $3B in a Series B round. However, bear in mind that the price and market trends for LayerZero could be subject to volatility influenced by factors such as strategic moves, partnerships, and performance of its token.
LayerZero News Analytics from Tue, 20 Feb 2024 08:00:00 GMT to Sat, 24 Aug 2024 18:24:38 GMT -
Rating 4
- Innovation 8
- Information 7
- Rumor -4
