LayerZero (ZRO) has taken a significant step to support the Ethereum developer community by introducing a new claim mechanism known as Proof of Donation. This approach is expected to lead to approximately $18.5 million being donated to the Protocol Guild, a crowdfunding mechanism for Ethereum developers.
LayerZero's growth has been primarily driven by the Protocol Guild and Ethereum's core developers. They were instrumental in the popularization of the Ethereum Virtual Machine (EVM), Ethereum's Layer 2-centric roadmap, and the overall crypto ecosystem.
The Proof of Donation mechanism works by allowing users to claim ZRO, LayerZero's native token, through a donation process. To claim ZRO, users need to donate $0.10 per ZRO in USDC, USDT or local ETH.
As a show of support, the LayerZero Foundation has pledged to match all donations up to $10 million.
ZRO token started trading on spot markets today. In addition, Binance, the world's largest cryptocurrency exchange, also listed the altcoin in futures transactions today. ZRO is trading at $3.60 at the time of this writing.
*This is not investment advice.