In the crypto community, LayerZero is a highly anticipated airdrop for 2023. They have confirmed a token and raised over $293 million in funding from investors like PayPal, OpenSea, and A16Z. In this guide, I'll go over some of the key tasks I've done to hopefully get in the snapshot and receive the $ZRO token airdrop.
What is LayerZero?
LayerZero is an interoperability protocol that connects EVM chains, allowing you to communicate and transfer assets from one blockchain to another, without compromising security or decentralization. To learn more, LayerZero links to an introductory guide on their official Discord page.
LayerZero Token ($ZRO)
There is no $ZRO token yet, but the community is expecting it will be launching sometime in the future. LayerZero mentions a $ZRO token in its code, indicating that a token is being developed. However, there hasn't been an official announcement from the team.
Is The LayerZero Airdrop Confirmed?
As of this writing, the LayerZero ($ZRO) airdrop has not officially been confirmed. However, we do know that a LayzerZero token is on the way. The team is also well funded. LayerZero secured $293 million in funding in total with their latest round being $120 million at a $3 billion valuation. It's investors include big names like PayPal, Andreessen Horowitz, OpenSea, and 30 other groups.
Like most airdrops, everything is speculation and there are no official dates yet. However, the crypto community is speculating that a $ZRO token airdrop will occur in 2023.
Overview: How to Receive The Potential LayerZero Airdrop
While there is no official airdrop criteria, using LayerZero bridges and dApps is our best shot at getting into the snapshot. Like all airdrops, the more active you are in the community, the more likely you are to maximize your rewards. You should use the protocol as much as possible, increase your volume, and complete as many transactions as you can.
- Interact With Stargate Finance
- Use the LayerZero Aptos Bridge
- Use BitcoinBridge
- Use the USDC LayerZero Bridge
- Interact with Other dApps
1. Interact With Stargate Finance
The Stargate Bridge is the first official dApp developed by LayerZero so we'll definitely want to use this application. It allows you to bridge funds across various networks including Ethereum, BNB Chain, Polygon, Artbitrum, and more. You can also stake $STG and use the liquidity pools. Here are the different tasks you can do:
2. Use The LayerZero Aptos Bridge
The Aptos Bridge is another bridge powered by LayerZero. You can move ETH, WETH, USDC, USDT, USDD, WBTC, BTC.b, and CAKE to the Aptos network and other blockchains. For this step you will need a few things:
- You need an EVM wallet (eg. MetaMask) and an Aptos Wallet (eg. Petra Wallet)
- You need some crypto for gas fees on both wallets. Buy some $APT to send to your Aptos Wallet. You can buy $APT on Binance (10% off fees) or on a DEX like PancakeSwap. On MetaMask, you can choose which network you want to use. To minimize gas fees, use anything other than Ethereum Mainnet like BNB Chain, Polygon or Arbitrum.
Once everything is set up, connect both of your wallets on the website and use the bridge to transfer funds. For example, connect MetaMask to BNB Chain and Petra Wallet to the Aptos Network.
3. Use BitcoinBridge
BitcoinBridge lets you transfer BTC.b, a wrapped version of Bitcoin on the Avalanche network, across different chains. This dApp is listed on the official LayerZero website in the footer.
- Buy BTC.b: The best place is on the Trader Joe DEX. You can see where it's available on CoinMarketCap.
- Connect Your Wallets: Go to BitcoinBridge and connect your EVM and Aptos Wallets.
- Bridge Assets: Send assets between different networks.
4. Use The USDC LayerZero Bridge
Circle, the issuer of the USDC stablecoin, has created this bridge which is currently on testnet, meaning you can do this task for free. Connect your wallet and click on Faucet USDC, Faucet ETH, and Faucet AVAX to request testnet tokens. Once the tokens arrive in your wallet, perform some bridge transactions.
5. Interact With Other dApps
The steps above are by no means an exhaustive list. You can interact with lots other dApps on LayzerZero such as: