LayerZero, a prominent company in the blockchain industry, has deployment The new initiative, titled “Proof-of-Donation,” aims to support Ethereum’s core development team through the Protocol Guild, a collective dedicated to funding Ethereum’s Layer 1 research and development.
Users who wish to claim LayerZero’s native token, ZRO, must donate a minimum of 0.1 USD per ZRO token, which can be donated using popular cryptocurrencies such as USDC, USDT or native ETH . Claim is open from June 20 to September 20.
The funds generated will go directly to the Protocol Guild, and the LayerZero Foundation is committed to matching all donations up to $10 million, meaning every dollar donated from the community will be matched by the Foundation. one more dollar, thus doubling the original amount donated, to support the goals of equitable distribution, community building, and protocol health.
The Protocol Guild is a nonprofit funding collective for Ethereum core researchers and developers, with the new mechanism bringing total donations to $18.5 million, according to the LayerZero Foundation. The donations received by Protocol Guild will have a four-year vesting period, ensuring a sustainable support system that is tracked and transparent thanks to their onchain contracts.
This program is not just limited to Ethereum, as participants can claim tokens on several chains, including Arbitrum, Optimism, Base, Polygon, BNB Chain, and Avalanche.
However, it is important to note that claiming on these networks will require a LayerZero message for verification, except in the case of Arbitrum, which acts as the coordinating chain for this particular contract.
This move by LayerZero was not well received by many in the cryptocurrency community. Banteg, a core contributor to Yearn Finance, comment that “mandatory donations sound more like a glorified ICO”.
“Stop bulk funding Protocol Guild, it has been extremely successful in attracting capital, find other smaller initiatives to support.”
Other comments on social media also seem to be less than pleased with LayerZero’s decision to force users to pay to claim the airdrop – usually intended to reward user contributions and decentralize the protocol. .
Itadori
Bitcoin Magazine
