ZRO is the native token of the LayerZero protocol, facilitating cross-chain communication and enhancing user experience and transaction efficiency.
ZRO Introduction
ZRO is the native token of the LayerZero protocol. LayerZero is an interoperability protocol designed to facilitate seamless communication and interaction between different blockchains. The ZRO token plays a key role on the LayerZero platform, serving as both a governance token that allows holders to influence the protocol's future development and direction, and as a utility token that facilitates transactions and interactions across various blockchain networks, thereby enhancing user experience and simplifying operations.
The total supply of LayerZero's native token, ZRO, is 1 billion tokens. Of this, 38.3% is allocated to users, developers, and community members to promote community activity and development. The remaining 62.7% is distributed as follows:
Strategic Partners: 322,000,000 ZRO. These tokens are allocated to strategic partners, including investors and advisors, and are subject to a three-year vesting period, with a one-year lock-up period followed by monthly unlocks over the next two years.
Core Contributors: 255,000,000 ZRO. These tokens are allocated to current and future LayerZero Labs employees, also subject to a three-year vesting period, with a one-year lock-up period followed by monthly unlocks over the next two years.
Buyback Tokens: 40,000,000 ZRO. LayerZero Labs has repurchased these tokens and committed them for community distribution, accounting for 4.0% of the total supply.
What is LayerZero?
LayerZero is an interoperability protocol designed for lightweight cross-chain message passing. LayerZero ensures authentic and trustless message delivery and is referred to as a "blockchain of blockchains," allowing different blockchain networks to communicate directly and trustlessly.
LayerZero's key feature is Ultra Light Nodes (ULNs). These smart contracts run on each blockchain and act as endpoints for cross-chain communication. ULNs use block headers and transaction proofs to verify the validity of transactions and messages from other chains, ensuring security and efficiency.
LayerZero supports any blockchain capable of running smart contracts, such as Ethereum, BNB Chain, Avalanche, Polygon, Arbitrum, Optimism, Fantom, and others. LayerZero also supports non-EVM chains like Aptos. These so-called omnichain applications will become a key layer of a multi-chain future, where different blockchains interact simultaneously.
LayerZero does not have a dedicated roadmap but plans to integrate more blockchains and DeFi protocols in the future, and also plans to create its own governance token and decentralized autonomous organization (DAO). LayerZero aims to provide the best interoperability solution for blockchains, achieving seamless and trustless cross-chain transactions.
Who are the founders of LayerZero?
The company behind the LayerZero protocol, LayerZero Labs, was co-founded by Bryan Pellegrino, Ryan Zarick, and Caleb Banister in 2021.
Bryan Pellegrino is the CEO of LayerZero Labs. He holds a PhD in Computer Science from Carnegie Mellon University, focusing on game theory and artificial intelligence.
Ryan Zarick is the CTO of LayerZero Labs. He was a software engineer at Google and co-founded Predictive AI, a machine learning startup acquired by Facebook in 2019.
Caleb Banister is the Principal Engineer of LayerZero Labs. He was a software engineer at Facebook and co-founded Predictive AI. He holds a BS in Computer Science from Carnegie Mellon University, also focusing on game theory and artificial intelligence.
LayerZero Labs has attracted some of the most prominent investors in the crypto space, including a16z, Sequoia, PayPal Ventures, Polygon, Coinbase Ventures, Binance Labs, DeFiance Capital, Spartan Group, Sino Global Capital, and Multicoin Capital. The company raised $135 million in a Series B round in March 2022 and another $120 million in April 2023.
What makes LayerZero unique?
LayerZero stands out among many interoperability solutions with its unique features:
Ultra Light Nodes (ULNs): LayerZero uses on-chain ULNs, which are smart contracts that run on each blockchain and act as endpoints for cross-chain communication. ULNs verify the validity of transactions and messages from other chains using block headers and transaction proofs, ensuring security and efficiency.
Generic Messaging: LayerZero enables any type of cross-chain communication, not just asset transfers. It can support various payloads, such as function calls, data exchange, governance votes, NFT transfers, and more. Developers can leverage LayerZero to create omnichain applications, utilizing the features and advantages of multiple blockchains simultaneously.
State Sharing: LayerZero allows applications to share state across chains, meaning they can synchronize their data and logic without relying on centralized servers or databases. This enables applications to operate as a single entity across multiple chains, creating a seamless user experience and reducing complexity.
Instant Finality: LayerZero guarantees instant finality for cross-chain transactions, meaning transactions are confirmed as soon as they are included in a block on the source chain. This eliminates the need for waiting periods or confirmations on the destination chain, improving speed and usability.
Official Links of ZRO
Website: https://layerzero.network/
Twitter: https://twitter.com/LayerZero_Labs
Discord: https://discord.gg/ktbvm8Nkcr
Telegram: https://t.me/joinchat/VcqxYkStIDsyN2Rh
Steps to Buy ZRO on LBank
Purchasing ZRO tokens on the cryptocurrency exchange platform LBank is straightforward. Here's a step-by-step guide:
1. Log into your account: Ensure you're registered and logged into your LBank account, then click the "Trade" option in the top menu bar to start the trading process.
2. Search for ZRO: Use the search function within the trading platform to find "ZRO", locate the trading pair, such as ZRO/USDT, and click to enter its dedicated page.
3. Place an order: In the ZRO/USDT trading page's spot trading area, enter the amount of ZRO you wish to buy. If you want to complete the purchase immediately at the current market price, select a market order and then click the "Buy" button.
4. Confirm the order: A confirmation window will pop up. After verifying the order details are correct, confirm to place your order. Once the transaction is successful, the purchased ZRO will automatically be deposited into your LBank spot wallet.
