LayerZero Confirms Launching Native Token in 2024 First Half

LayerZero, the interoperability blockchain protocol, has confirmed that it will be launching native token in the first half of 2024.

“We’ll state now in no uncertain terms that there will be a LayerZero token. Its distribution is something we’re committed to getting right and expect it to happen within the first half of 2024,” said LayerZero Labs, the developer entity behind the LayerZero protocol.

LayerZero has always been built with the ability to have a native token within the protocol, as can be seen in the immutable code launched on day 1. We’ve heard the community discussion over the last few months and the lack of clear communication around this. We’ll state now in…
— LayerZero Labs (@LayerZero_Labs) December 7, 2023

LayerZero tokens will be provided to users via the much-anticipated airdrop, the popular method used by several DeFi protocols. Users have been depositing funds into LayerZero bridges and liquidity protocols for months in the hope of getting rewarded with airdrop tokens.

The clarification from LayerZero Labs comes following the hype around native token within its community. “We’ve heard the community discussion over the last few months and the lack of clear communication around this,” said LayerZero Labs.