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 zkSync ($ZKS) Token Airdrop Guide for another highly anticipated token airdrop.
LayerZero ($ZRO) Airdrop Step-by-Step Guide
Here’s a step-by-step guide on how to get a potential LayerZero ($ZRO) token airdrop:
- Stake and Vote $STG on Stargate Finance
- Interact with Stargate Bridge on LayerZero
- Use the USDC LayerZero Bridge
- Use the Aptos Bridge
- Use LiquidSwap Bridge
- Use LEVEL Finance Bridge
- Use SushiSwap Cross-Chain Swap
- Use BitcoinBridge
- Interact with other dApps on LayerZero
- Get roles on the Stargate Guild
See below for more details!
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.
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.
Moreover, the use of an oracle-relayer pair provides additional layers of security since responsibilities are broken up. But if both parties are compromised, LayerZero would be vulnerable to attacks–no easy task, given the progressive decentralization of relayers growing in the network.
Who is the Team behind LayerZero?
LayerZero Labs, a Vancouver-based startup, developed LayerZero protocols to enable omnichain decentralized applications across multiple blockchains The company was co-founded in 2021 by Bryan Pellegrino, Ryan Zarick, and Caleb Banister in 2021. The three have worked together in computer network research labs at the University of New Hampshire.
LayerZero Labs have recently raised US$120 million in Series B funding at a valuation of US$3 billion. The funding is expected to go towards growth initiatives, in particular expanding the Company’s presence in the Asia-Pacific. 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 networks 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 $ZRO, but the community expects it to be launching sometime in the near future.
How to Receive Potential LayerZero Token Airdrop?
Here’s how you can get a potential LayerZero ($ZRO) token airdrop:
- Stake and Vote $STG on Stargate Finance
- Interact with Stargate Bridge on LayerZero
- Use the USDC LayerZero Bridge
- Use the Aptos Bridge
- Use LiquidSwap Bridge
- Use LEVEL Finance Bridge
- Use SushiSwap Cross-Chain Swap
- Use BitcoinBridge
- Interact with other dApps on LayerZero
- Get roles on the Stargate Guild
Stake and Vote $STG on Stargate Finance
Stargate Finance (Who may also do an airdrop! Check out our guide here) 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. Here’s how to stake and become a DAO Voter on Stargate Finance:
- Buy Stargate’s $STG token (for as little as $0.74) on centralized exchanges like Bybit, Binance, or on decentralized exchanges like Uniswap and PancakeSwap. You may want to stake at least 25 $STG because you need at least 25 $veSTG to get some guild roles.
- Stake your $STG tokens for voting power on Stargate’s staking tab: https://stargate.finance/stake. The staking period can range from 1 to 36 months. You can also browse the pools and farms on the staking page to earn more $STG yields.
- 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. Tip: Select “Turn On My Notifications” so you don’t miss out on any voting opportunities.
Interact with Stargate Bridge on LayerZero
Interact with dApps such as Stargate Finance’s Stargate Bridge by bridging your funds across networks repeatedly to generate volume. Simply select the “from” token and network, the “to” token and network, and confirm your transaction.
Bonus: How to save costs when using Stargate Bridge
Gas fees for doing transfers are very expensive and would affect your potential airdrops. Here’s how to save costs when using Stargate Bridge or if you are on a budget:
- Do not transfer assets to/from the Ethereum network. It is usually the most expensive.
- Instead, to save costs when using Stargate Bridge transfer to/from these networks: BNB/AVAX, BNB/MATIC, BNB/FTM, BNB/METIS, AVAX/MATIC, AVAX/FTM, AVAX/METIS, MATIC/FTM, ARB/BNB, ARB/AVAX, ARB/MATIC and FTM/METIS.
- Check the estimated gas cost before bridging by clicking “Transfer Gas Estimator” to see the approximate gas costs for transferring assets on various networks.
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 from Ethereum, Arbitrum, Optimism, Avalanche, Polygon, and BSC to the Aptos network. Connect your EVM (e.g. MetaMask) and Aptos wallets (e.g. Martian wallet), and choose the amount of cryptocurrencies and networks you wish to use. However, keep in mind there is a 3-day transfer window if you want to withdraw your funds out of the Aptos ecosystem. You will also need to pay gas fees in Aptos $APT tokens.
To use the Aptos Bridge with the least amount of gas fees, transfer USDC from BNB Chain to Aptos network. To do this, you will need to send USDC, and BNB as gas fees to your EVM wallet (e.g. MetaMask). You will also need to send some $APT to your Martain wallet as gas fees.
Use the LiquidSwap Bridge
Go to https://bridge.liquidswap.com/ and bridge USDT, and ETH from Ethereum or Arbitrum to the Aptos network. Connect your EVM (e.g. MetaMask) and Aptos wallets (e.g. Martian wallet), and choose the cryptocurrency and network (Ethereum/Arbitrum to Aptos and vice versa) you wish to bridge tokens. Note you will need to pay gas fees in Aptos $APT tokens.
Use LEVEL Finance Bridge
LEVEL Finance is a decentralized perpetual exchange on BNB Chain that provides risk management solutions for liquidity providers and is built by experienced entrepreneurs and contributors. To use LEVEL, you will need to buy their native $LVL token on DEXs such as Uniswap or Pancakeswap. Then, go to LEVEL Bridge and bridge $LVL tokens between BNB Chain and Arbitrum. Note that depending on which direction you are bridging, you will need BNB or ETH for gas fees.
Use SushiSwap Cross-Chain Swap
SushiSwap released its SushiXSwap, which is built upon LayerZero’s Stargate protocol. You can swap tokens directly to another network without using a bridge. As such, users are likely to be qualified for a $ZRO token airdrop!
Use BitcoinBridge
BitcoinBridge allows users to transfer BTC.b. BTC.b is a new type of wrapped Bitcoin that can be used on the Avalanche Network. It is moved to Avalanche using the Avalanche Bridge. This makes it easy to use Bitcoin on many different networks with the help of LayerZero.
Meanwhile, BitcoinBridge is a good way for people on a budget to interact with the LayerZero ecosystem. Doing 20 transactions on BitcoinBridge will only cost around US$15! Here’s how to use BitcoinBridge:
- Buy BTC.b on Trader Joe here.
- Connect your EVM and Aptos wallets here.
- Bridge assets between different networks.
Interact with other dApps on LayerZero
You can also interact with other dApps on LayerZero including Holograph, 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.
Get roles on the Stargate Guild
Here’s how to get roles on the Stargate Guild:
- Connect your Ethereum wallet to https://guild.xyz/stargate.
- To get the veStaker role, hold at least 25 $veSTG. To do this, buy at least 25 $STG on exchanges such as Bybit, Binance, or Uniswap. Then, stake your $STG here to get $veSTG. For detailed instructions see above.
- To get the 100 STG role, you will need to hold at least 100 $STG. Note that staked $STG does not count.
- To get the 1k LP Farmer role, supply at least $1,000 of USDC, USDT or BUSD on Ethereum, BNB Chain, Avalanche, Polygon, Arbitrum, Optimism or Fantom (not Metis) to receive LP tokens.
LayerZero Airdrop Review
When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.
Likelihood of Airdrop: Details about the LayerZero token airdrop have not been announced yet.
Airdropped Token Allocation: The project has not announced how many $ZRO tokens would be allocated towards airdrops.
Airdrop Difficulty: The project has not yet released details about its airdrop rules. However, you can interact with Stargate Finance, which is a LayerZero protocol that is ready to use. There are other dApps on LayerZero that are usable, as well as the USDC LayerZero and Aptos bridges. These actions however are not that easy.
Token Utility: The team has not announced what the LayerZero token utility would be.
Token Lockup: There is no announcement on token lockup yet.
