According to recent reports, Bryan Pellegrino, CEO of LayerZero Labs, announced on the social media platform that they used funds from the community pool (0.5%) to reward community members, developers, and content creators through a new community role system. This system is designed to drive the alignment of long-term goals and the growth of community value. The new roles include Intern, Hero, OG, Legend, and LayerZeroGod, and more detailed information will be released in the next 4-6 weeks. In addition, LayerZero also plans to work with external communities to directly grant their members Intern roles and continue to develop the community.

In addition, LayerZero Labs raised $120 million in a Series B funding supported by a3z Crypto, with a valuation of $1.6 billion. The funds will be used to continue to develop LayerZero and expand its team. LayerZero Labs was co-founded by Bryan Pellegrino (CEO), Ryan Zarick (CTO), and Caleb Banister (Chief Engineer) to facilitate cross-chain messaging across 30 blockchains and provide developers with underlying infrastructure to create interoperable, chain-agnostic dApps