Coinbase, Binance, and various other leading cryptocurrency exchanges worldwide have swiftly introduced trading support for a new altcoin linked to an “omnichain” initiative.

Known as LayerZero, the project presents itself as an interoperability protocol for omnichains. Its primary goal is to facilitate the transfer of data across multiple blockchains while enabling censorship-resistant messages and permissionless development through immutable smart contracts.

Recently, the project unveiled its native token, ZRO. Binance included the asset with a seed tag, while Coinbase labeled it as experimental. These designations serve as warnings to users about lower liquidity and potential volatility associated with newer tokens.

Other major exchanges, including OKX, Bybit, Crypto.com, and Bitfinex, also wasted no time in listing ZRO for trading.

In addition to the token launch, the LayerZero Foundation introduced a new claiming mechanism for ZRO called “proof-of-donation.” This mechanism supports the Protocol Guild, a collective funding initiative for Ethereum development.

According to the foundation, “Protocol Guild and Ethereum’s core developers have played a crucial role in the growth of LayerZero, driving the advancement of the Ethereum Virtual Machine (EVM), Ethereum’s L2-centric roadmap, and the wider crypto ecosystem. By contributing to Protocol Guild, eligible recipients demonstrate their long-term alignment with the LayerZero protocol and dedication to the future of crypto.”

To claim ZRO, users are required to donate $0.10 in USDC, USDT, or native ETH per ZRO. These donations directly support the Protocol Guild, with the LayerZero Foundation matching all donations up to $10 million.

Despite being ranked 90th in terms of market capitalization, the governance token experienced a nearly 20% drop on its first day of trading, currently priced at $3.57.

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