Insights of $ZRO Token from June 2024 News:

LayerZero's Unique Airdrop Approach: LayerZero introduced its ZRO token with a charity-driven airdrop mechanism where recipients need to donate to specified charities to claim their tokens. This innovative "Proof-of-Donation" approach has shaken the crypto community.

Source: Coin360

Airdrop Claim Process:

LayerZero airdrop claims for ZRO tokens opened with claimants receiving 8.5% of the total supply on the first day. Participants were required to donate $0.10 per token claimed to support Ethereum's core researchers and developers.

Source: Bankless

Price Impact:

The LayerZero protocol received backlash for its controversial proof-of-donation mechanism in the ZRO token airdrop, which led to a 20% drop in the token price.

Source: NewsBTC

What is $ZRO Token?

$ZRO Token is the native asset of the LayerZero protocol, an omnichain interoperability protocol supporting censorship-resistant messages and permissionless development through immutable smart contracts called Endpoints.

Analysis of Price Change:

The price change in the $ZRO token could be attributed to the controversy surrounding the proof-of-donation mechanism in the airdrop. Backlash from the crypto community and the perception of the airdrop process may have influenced investor sentiment, leading to a significant price drop.