ZRO token falls 17% amid controversy over LayerZero’s ‘not an airdrop’
After its June 20 launch, ZRO surged 15.15% within just 20 minutes before sharply tumbling 22% as people debated whether the donation mechanism was genius or just an excuse for a “tax.”
Cross-chain interoperability protocol LayerZero’s newly launched token LayerZero (ZRO) fell 17% since its launch amid controversy over its donation criterion for claiming tokens, which some have likened to a “tax.”
Some disagree with the criticism and think the mechanism could be a good step toward solving the issues plaguing recent token airdrops.
Upon its launch on June 20, ZRO surged 15.15% to $4.71 within just 20 minutes before tumbling 22% within two hours, a pattern often seen in token airdrops as claimants dump their newly acquired tokens.
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Author: Ciaran Lyons
