Benzinga – LayerZero Labs, a prominent player in the blockchain interoperability space, has officially announced its plans to launch a native token within the first half of 2024.

This announcement comes after months of community speculation and discussions regarding the potential of a native token in the LayerZero protocol.

LayerZero Labs, known for enabling the transfer of data and assets across different blockchains, has been a topic of interest in the blockchain community, especially following its financial milestones.

In April 2023, the company successfully raised $120 million in a Series B funding round, catapulting its valuation to an impressive $3 billion.

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This funding round, led by notable investors including Sequoia, FTX (CRYPTO: FTT), a16z, and others, marked a significant achievement for LayerZero Labs, solidifying its position as a key player in the blockchain industry.

While the specifics of the token launch, including the terms of any potential airdrop, remain under wraps, there is speculation about whether the snapshot for airdrop eligibility has already been taken.

LayerZero Labs has not yet disclosed these details, indicating that the planning and execution of the token launch are still in progress.

The company’s focus is on ensuring that the distribution of the token aligns with its commitment to the community and the overall health of the protocol.

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