Harmony LayerZero Airdrop

Dear Harmony Community,

LayerZero has announced a Token Generation Event (TGE) in collaboration with qualifying protocols, including Harmony’s LayerZero Bridge. As part of this event, LayerZero will be airdropping their new ZRO tokens to wallets that have engaged in qualifying activities.

Eligibility Criteria for Harmony Users:

To qualify for the ZRO token airdrop, Harmony users must have completed one or more of the following activities before the May 1st, 2024 snapshot:

  1. Utilized Harmony’s LayerZero Bridge to bridge any token
  2. Opened a liquidity pool, on the Harmony network, that includes at least 1 bridged asset
  3. Operated a re-pegging validator node, recovery partner, or contributed as a custodian in the recovery effort

Sybil Identification and Exclusion:

LayerZero is actively running a Sybil identification bounty [post]. Wallet addresses identified as part of this Sybil identification process will not be eligible for the airdrop.

Allocation of ZRO Tokens:

The total allocation of ZRO tokens for Harmony Bridge users is proposed to be divided as follows:

  • 50% split among bridge users
  • 30% split among liquidity providers
  • 20% split among recovery contributors

If a wallet has engaged in multiple categories of these activities, it will receive a portion from each category it qualifies for.

Airdrop Timeline:

There has not been an official announcement from the LayerZero team as to when the TGE will occur and the following categories will still need to be approved by the LayerZero review.

What’s Next?

Currently, the above categories and percentages are offered as a suggestion for the community to review before the topic discussion deadline stated below.

Topic Discussion Deadline: May 24th 23:59 UTC, 2024
Submission Deadline: May 31st 23:59 UTC, 2024

The current distribution plan is designed to maximize engagement of the Harmony LayerZero Bridge ecosystem by rewarding users for cross-chain activity, acknowledging liquidity providers for maintaining market efficiency, and compensating recovery contributors.

As always, any and all suggestions and inputs are welcome!

3 Likes

Thanks for sharing this information Theo :blue_heart:
I’m excited to learn that LP providers & Bridge Users, are potentially getting some additional compensation.

Additional bonuses for The HarmonyONE Recovery Teams.

“ONE Day You’ll Thank Yourself for NEVER Giving :up:

1 Like

Recovery One will take the airdrop, convert it to USDC, and burn the depegged assets.

4 Likes

How much is it approx?

We have not yet received that information on our end, but we will share it here as soon as we do.

2 Likes

Update

As the “developer account” for the LayerZero recommended 10% allocation would be a Harmony Core address, we will relinquish this allocation.

Updated Percentages (will also be changed in the original post):

  • 50% to bridge users

  • 30% to liquidity providers

  • 20% to recovery contributors

To see if you qualify in the current proposed allocations, visit this page.

1 Like

Update+

The above allocation percentages have been finalized and are now under review from the LayerZero team. See the published RFP here.