🚀 The special episode of "Dr. Han, What Do You Think" is live!
🎙 Gate.io Founder & CEO Dr. Han takes on a rapid fire Q&A, covering work, life, and some truly tricky questions!
👀 How will he tackle these challenges?
🤩 Click to watch his real-time reactions, and join in the comments!
How will unclaimed LayerZeroToken be reallocated to active users?
Author: TPan Source: substack Translation: Shanolba, Golden Finance
Last week, I saw a post from LayerZero announcing that the unclaimed Tokens from their first Airdrop will be redistributed to eligible Wallets. As a lucky recipient of the first Airdrop a few months ago, I wonder... Will I be a lucky recipient of the redistribution?
But one keyword caught my attention:
What is LayerZero? How is their TGE progressing?
LayerZero is a Cross-Chain Interaction protocol that enables different blockchains to interact and communicate with each other. Some applications of this protocol:
After a long period of anti-witch attack activities (including self-reporting and bounty hunter activities, which is another topic for another day), LayerZero conducted their TGE event on June 20th.
LayerZero Token (ZRO) has a supply of 10 billion, as follows:
In the 38.3% community reserve, 8.5% (85 million) of the supply is allocated to the TGE event, and the 90-day claim window will end on September 20th.
The second reassignment of claims
After the initial claims period ended, LayerZero began redistributing claims. How does it work?
Reallocate Qualifications
Allocation of eligible Wallet
Any tokens not claimed after 30 days will be transferred to the LayerZero Foundation, and I assume these tokens will be reallocated to the community for future incentives.
Essentially, the second proposition contains two parts:
Why is this interesting?
For many projects and ecosystems, the struggle for user attention and retention has expanded to other aspects. When there are millions of other shiny things available on the market, how do you encourage users to continue using your product and stay in your ecosystem? Incentives are key, but carefully allocating incentives is the key, and I think LayerZero has done relatively well in this regard.
The publicity for the second application is far less than that of the first application. Users who applied for the first time may have spent several months or even years. In addition, this application is a redistribution of the initial allocation, allowing the unclaimed portion to be reused for active communities.
It's like robbing Peter to pay Paul, but Peter has been notified multiple times and given 90 days to file a claim, but he is nowhere to be found.
So far, about 5 million additional ZRO out of the 85 million airdrops have been claimed, with a few more weeks remaining.
This concept exists in various forms outside the field of Crypto Assets:
In the above example and LayerZero's claim, redistribution is often a reward, not a punishment. The claims window lasts for months, and for Clash of Clans, the loss of resources is more of a minor obstacle than a substantial one.
I am not surprised that we will see creatively redesigned concepts of redistribution in various on-chain incentives, participation, and loyalty programs in the future.
With the help of smart contracts, its application methods may be more interesting than what we see today.