LayerZero to Launch Native Token Distribution Expected in First Half of 2024

The LayerZero interoperability protocol was announced on X platform on Friday (8th) that LayerZero will launch its native token, with token distribution expected in the first half of 2024. According to a previous report by Zombit, LayerZero’s development team, LayerZero Labs, announced in April of this year that they had raised $120 million at a valuation of $3 billion, which is three times the valuation of the company’s previous round of financing in March 2022. The latest round of investors includes the cryptocurrency division of venture capital firm Andreessen Horowitz (a16z), art auction house Christie’s, Sequoia Capital, and Samsung Next, among others.
Related reports: “LayerZero’s wstETH cross-chain deployment triggers peer criticism, calling for the establishment of open cross-chain standards” and “LayerZero announces collaboration with Conflux to develop support for blockchain ‘BSIM card’ and plans to expand business in Asia”.