LayerZero ($ZRO) Token Airdrop Guide: Earn $5000 For Free

Looking for free tokens with huge upside potential? LayerZero is one of the major upcoming airdrops, funded by many reputable global enterprises such as PayPal. In this article, we will explain what LayerZero is and what you can do to receive its token airdrop.

Check out our Arbitrum Airdrop Guide for another highly anticipated token airdrop.

What is LayerZero?

LayerZero is a trustless omnichain interoperability protocol designed to connect multiple chains. Let’s break it down what this means in simple terms:

Underlying Issues of Current Interoperability Techniques

Interoperability has always been an issue for the blockchain space. Since blockchain protocols cannot communicate with other blockchains on a programmable level, this creates a silo effect in which each chain is isolated, limiting users’ options to move liquidity and data between walled ecosystems.

As of now, there are two main approaches to incorporate interoperability between blockchains, but each has its limitations:

Middle Chain

There are protocols that function as the connective layer between blockchains such as Polkadot or Cosmos. Essentially, it is a middle chain that facilitates the exchange of messages between chains. This approach is scalable and fairly inexpensive, but it is less secure. Since the middle chain is solely responsible for providing consensus and validation services, it becomes a single point of failure. If compromised, all liquidity can be stolen on all chains.

On-Chain Light Node (Decentralized Bridges)

Instead of trusted central entities, decentralized cross-chain bridges use on-chain light nodes to communicate between blockchains. For context, a light node stores only a part of the blockchain ledger’s transaction history and is connected to a full node to strengthen verification.

For the purposes of cross-chain messaging, light nodes on a source chain are used to verify block headers (metadata of a block) received from a target chain. Transaction proofs are then forwarded and validated on-chain against the block headers. This approach is a secure way to transmit messages between chains, but it is also extremely costly. You would have to build a seperate bridge for every pair of chains, each requiring its own interface and code.

LayerZero’s Solution to Interoperability

Instead of a middle chain or a layer-2 solution, LayerZero provides a massive infrastructure that would seamlessly enable direct, trustless transactions across all chains. Think of it like this: if blockchains are nations and bridges are immigration, then LayerZero would be a global super-passport and air-traffic control that allows communication between all blockchains at once. It focuses more on the communication problem of the interoperability layer (layer 0) rather than providing a third party solution like a bridge or middle chain.

source: LayerZero Whitepaper

LayerZero achieves this by using on-chain light nodes in a much more economical way. The team behind LayerZero, LayerZero Labs, coined it Ultra Light Node (ULN). The ULNs are connected to oracles and relayers, both independent off-chain entities in charge of transferring messages from one chain to another.

Instead of keeping all block headers sequentially, block headers are streamed on demand by decentralized oracles, i.e. Chainlink, allowing the ULN endpoints to be small and cost-effective. The relayers are responsible for moving transaction proofs. Initially, LayerZero Labs will run and maintain the relayers, which will soon be fully open-sourced so that anyone can operate their own relayer.

source: LayerZero Whitepaper

Moreover, the use of an oracle-relayer pair provides additional layers of security since responsibilities are broken up between the two. But if both parties are compromised, then LayerZero would be vulnerable to attacks, but that is no easy task thanks to the progressive decentralization of relayers growing in the network.

Who is the Team behind LayerZero?

LayerZero is developed by LayerZero Labs, a Vancouver-based startup that develops protocols to enable omnichain decentralized applications across multiple blockchains. The company was co-founded in 2021 by Bryan Pellegrino, Ryan Zarick, and Caleb Banister, who have worked together in computer network research labs at the University of New Hampshire.

In March 2022, LayerZero Labs raised $135 million in a Series B funding round from the likes of FTX Ventures, Coinbase Ventures, Uniswap Labs, Sequoia Capital, a16z, PayPal Ventures and more. Interestingly, LayerZero is PayPal’s first ever web3 investment. Seeing as that PayPal is one of the world’s leading payment network, this goes to show LayerZero has huge potential that spans beyond the crypto space.

Does LayerZero have a Token?

Currently, LayerZero does not have a token YET. But we know that its token with the ticker $ZRO exists because it can be viewed on their information code. There is no official announcement of $ZRO, but the community expects it to be launching sometime in the near future.

source: LayerZero Gitbook

How to Receive Potential LayerZero Token Airdrop?

Stake and Vote on Stargate Finance

Stargate Finance is the first LayerZero protocol that is live and ready to use. It is a liquidity protocol that leverages LayerZero’s generic messaging to enable cross-chain liquidity transfers in native assets. LayerZero Labs believes that Stargate will be integral to any DApp that wants to move cryptocurrency across blockchains. Thus, it makes sense that Stargate users, especially DAO voters, have a very high chance to receive $ZRO airdrops.

You can buy Stargate’s token $STG even as little as $5 on centralized exchanges like Binance, or on decentralized exchanges like Uniswap and PancakeSwap. Then stake your tokens for voting power on Stargate’s staking tab: https://stargate.finance/stake. Finally and most importantly, you should regularly vote on governance proposals on https://snapshot.org/#/stgdao.eth. This will get you in the snapshot that can potentially qualify you for $ZRO airdrops.

Interact with DApps on LayerZero

Apart from Stargate Finance, you can also interact with other DApps on LayerZero including Mugen Finance, Radiant Capital, Omni X or Angle Protocol. You can make small transactions, deposit funds, provide liquidity, swap assets etc. By actively and consistently using the ecosystem, it is highly likely LayerZero will reward users who genuinely interact with the ecosystem.

source: TokenHunter

Use the USDC LayerZero Bridge

You can use the USDC LayerZero bridge (https://usdcdemo.layerzero.network/bridge) to transfer USDC between EVM chains.

USDC Goerli Contract Address: 0x07865c6E87B9F70255377e024ace6630C1Eaa37F
USDC Avax Contract Address: 0x5425890298aed601595a70AB815c96711a31Bc65

Use the Aptos Bridge

Aptos recently launched the Aptos Bridge powered by LayerZero. You can move USDC, USDT, and ETH into Aptos from Ethereum, Arbitrum, Optimism, Avalanche, Polygon, and BSC. However, keep in mind there is a 3-day transfer window if you want to withdraw your funds out of the Aptos ecosystem.

The information provided in this article is intended for general guidance and information purposes only. Contents of this article are under no circumstances intended to be considered as investment, business, legal or tax advice. We do not accept any responsibility for individual decisions made based on this article and we strongly encourage you to do your own research before taking any action. Although best efforts are made to ensure that all information provided herein is accurate and up to date, omissions, errors, or mistakes may occur. 
Disclosure: Authors are invested in cryptocurrency projects and have cryptocurrency holdings - including those covered on this website. 

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