LayerZero, a market leader in cross-chain messaging protocols, has declared that it is all set to release its token in the first half of 2024. The announcement was made via a post on X.
As per the project, they are currently engaged in the process of determining the most suitable distribution mechanism and are completely assured regarding the token’s release.
LayerZero technology enables Stargate, which has a volume of $607 million and has been the third most traction on the bridge for a month already. If one excludes solutions designed solely for connecting two specific blockchains, such as Arbitrum and Ethereum, Stargate has a high volume.
The announcement came at a time when Bitcoin and Ethereum were experiencing annual rises, and there was a lot of activity surrounding token launches such as JITO and TIA. This has highlighted for crypto enthusiasts the notion that airdrops can come in the form of five-digit payouts.
The DeFi community has been awaiting the introduction of a token from LayerZero. Airdrop hunters have been busy utilizing the platform, expecting to receive rewards.
LayerZero was developed to produce a traditional token in the protocol. This is seen in the fixed code that was supplied from the beginning. Even though the topic has grown rather contentious, LayerZero remains confident in launching its token in the first half of 2024.