LayerZero Airdrop is a phrase that motivates users to participate in experiencing the LayerZero ecosystem in addition to breakthroughs in omnichain technology that are also helping LayerZero fly high in the Crypto market. So, let’s find out in the article below how the phrase LayerZero Airdrop has a strong impact on the ecosystem of this platform itself.
To better understand LayerZero, people can refer to some of the articles below:
- What is LayerZero (ZRO)? LayerZero Cryptocurrency Overview
- Potential Projects on the LayerZero Ecosystem
- LayerZero And Omnichain Trends
On-chain Metrics About LayerZero
On-chain metrics on LayerZero
Currently, most of the indexes of LayerZero and projects in the LayerZero ecosystem will be relatively noisy in the context that users still spend a lot of time hunting for airdrops/retroactives with this project. Therefore, the current on-chain indicators are only for reference and cannot represent the real number of users on the LayerZero ecosystem.
However, there are also many users with real needs who are participating in using projects on the LayerZero ecosystem for a number of purposes such as:
- Move assets (Stablecoin, ETH,…) from one Blockchain to another. This is shown through Stargate’s on-chain parameters.
- Moving NFTs from one Blockchain to another although this demand is not high.
- Move Native Tokens from Ethereum to Layer 2 or AltLayer 1 to use with lower and more attractive fees. For example, bring JOE from Avalanche to Arbitrum to stake because the volume on Arbitrum is more and there are more “games”.
The total number of users on the LayerZero network has reached more than 3.1M users and has generated a total of nearly 60M different transactions. Compared to a month ago, there were nearly 200K new users and 750K new transactions. Some notable parameters are as follows:
- 35% of total users have only 1 transaction.
- 23.3% of total users have 2 – 9 transactions.
- 25.8% of total users have 10 – 19 transactions.
- Less than 15% of total users have 20 transactions or more.
It can be seen that 58.5% of the total users on LayerZero are mainly Airdrop/Retroactive hunters, which means that nearly 18M users on LayerZero are not real users. Just through this small number, you can see how the phrase LayerZero Airdrop is greatly affecting LayerZero’s network?
We have a few more numbers to prove the argument that LayerZero Airdrop is greatly affecting LayerZero’s network such as:
- The number of new users joining in the past 2 months accounts for more than 93% of the total number of users, while the number of users from 6 months or more accounts for less than 6%.
- The number of users who only interact with one chain accounts for 27.2%.
Through the chart of the number of transactions on the LayerZero network, we can see that the number of transactions on the network has decreased from the end of July with 480K transactions per day to only about 200K transactions per day. Previously, the number of transactions above 400K per day was maintained for a long period of time from May until the end of July 2023.
This is also relatively easy to understand since many recently launched Layer 2 projects have attracted users such as Base, Linea, zkSync, Starknet,… However, compared to the beginning of the year, the current number is still It’s a terrible growth. At this number, if reduced by 50% with 100K transactions per day, it is about 20 times higher than at the beginning of the year.
Some of the on-chain indicators on Stargate
Some notable indicators and information for Stargate – a project built based on LayerZero’s message transmission technology and developed by the LayerZero team itself, are:
- The number of addresses with less than 10 transactions accounts for 61% and the number of users with less than 10 transactions with Ethereum accounts for 99.4%.
- The blockchains with the most users are Arbitrum, Optimism and Avalanche.
- The blockchains with the least user interaction are BNB Chain, Polygon and Fantom.
Some on-chain metrics on the LayerZero ecosystem
There is a total of $65.82M RDNT – Native Token of Radiant Capital on Arbitrum, which has grown by about $5M RDNT in just the past 1 month. It seems that users do not have much incentive to move RDNT between BNB Chain and Arbitrum. The daily trading volume is only a few thousand dollars, a relatively small number.
The number of TVLs and users of Aptos Bridge (built with LayerZero technology) remains relatively high although there have been recent signs of decreasing, this comes from the Aptos ecosystem being relatively boring. boring and not much user experience.
Overview of the LayerZero Ecosystem
Some of LayerZero Labs’ activities
Some typical activities of LayerZero Labs include:
- Metis used the Omnichain Fungible Tokens standard technology abbreviated as OFT to tokenize the contracts of users who were hacked for future compensation.
- LayerZero officially cooperates with Google Cloud to launch Google Cloud Oracle on its network. From September 19, 2023, Google Cloud Oracle will become a secure part of the LayerZero network. Its role is to participate in every message and perform its task of verifying the validity of messages. message.
- LayerZero has been officially deployed on the Zora Network.
- Some achievements of projects in the ecosystem include the Holgraph project reaching 1.5M cross-chain interactions with more than 6M NFTs moved.
- LayerZero Labs also gave away rewards for their Superhacks like Cross-chain KYC, Base Point, Arc. All of the above projects will help upgrade LayerZero’s infrastructure and product diversity in the future,
Not only expanding its influence, LayerZero also participates and organizes many events to share the Omnichain concept with the community such as LayerZero & Building Omnichain on Subnets at Korea Blockhain Week, LayerZero for Gaming: Optimizing UX through Interoperability with Klaytn at Korea Blockchain Week.
Rumors about LayerZero Airdrop
PolyMarket, a major betting platform in the world, has predicted quite accurately the launch time of Arbitrum’s ARB on February 24, 2023 and then March 16, 2023 or Sui Network’s SUI will continue to be a “bet”. “LayerZero will launch ZRO before October 31, 2023. With this event, many people who launched LayerZero will Airdrop to the community before October 31, 2023.
On September 21, 2023, LayerZero officially added the ZRO withdraw feature on the project’s old Smart Contract for 18 different Blockchains.
The Layerzero ecosystem continues to expand with the LayerZero Airdrop
New projects continue to join and become part of the LayerZero ecosystem with different goals including:
- Monsterra – Free to Play & Earn game on Avalanche, BNB Chain and OK Chain, with the goal of moving Tokens, NFTs, FTs back and forth between Blockchains that the game supports with just 1 mouse click.
- Mint DAO – is an NFT Launchpad platform on many different Blockchains such as Ethereum, BNB, Polygon, Arbitrum, Cosmos,… that has officially integrated LayerZero’s NFT omnichain technology to move towards the Cross-chain NFT future.
- Preon Finance – a Lending & Borrowing project, has also used the Omnichain Fungible Tokens (OFTs) standard for both the Stablecoin issued by the project, STAR, and the project’s Native Token, PREON, to be able to move conveniently. across many different blockchains.
- Tevaera – a project that allows projects to build NFTs according to Omnichain standards combined with Account Abstraction technology on zkSync to take user experience to the next level.
- Swell – a new project in the LSD industry, has officially used LayerZero technology to send its LST to Cross-chain, swETH.
- Uroboros – a Wallet project has also integrated LayerZero to help users move assets between many different Blockchains.
- Lybra Finance, the leading project in the LSDfi industry, has also announced an integration with LayerZero to bring its Stablecoin eUSD cross-chain with peUSD.
- Orbofi Ai – a project that uses AI tools to build content, has also integrated OFT technology to move content between BNB Chain and Polygon.
It can be seen that the LayerZero ecosystem is expanding constantly, most projects integrating LayerZero with the following basic goals:
- Tokenize your tokens according to OFT standards so that cross-chain migration does not create liquidity fragmentation.
- Building a Cross-chain NFT Future. NFTs will do everything Tokens can do.
LayerZero Review Airdrop affects the LayerZero ecosystem
Clearly, the LayerZero Airdrop is having a positive impact on the LayerZero network and ecosystem as they gain a large number of users without needing too much marketing costs. This number of users will gradually convert into future users if LayerZero’s products are really good, have high security and a diverse ecosystem of experiences. LayerZero Labs is doing all of the above:
- The ecosystem continued to expand in September with 8 new projects and 10 new projects in August. OFT is becoming more and more popular in the Crypto market.
- Cooperate with Google Cloud Oracle to upgrade security capabilities for the entire network.
- The experience of LayerZero technology across projects also has many differences.
Obviously, the launch of LayerZero tokens will be a strong push for the ecosystem in the near future.
Summary
LayerZero Airdrop is clearly playing an important role in promoting the strong growth of the LayerZero ecosystem.
