Layer 2 Network Linea Initiates ZeroLend’s ZERO Token Claiming For Airdrop Users And Investors
In Brief
Linea opens ZERO tokens for claiming, allowing users to claim them regardless of whether they have farmed the tokens on other blockchains.
Layer 2 Ethereum scaling solution project Linea announced that the ZERO token is now available on its platform. Users are now able to claim ZERO tokens on Linea, irrespective of whether they have previously farmed them on other blockchains.
Airdrop users as well as investors, have the option to claim the upfront ZERO tokens and subsequently stake the remaining tokens.
The ZERO token, an ERC-20 token native to Linea, functions as a utility and governance token within the ecosystem of ZeroLend, a decentralized finance (DeFi) lending protocol. It is designed to enable seamless bridging across different blockchain networks using LayerZero technology.
Additionally, the Zero Gravity points and earlyZERO tokens, non-transferrable ERC-20 tokens allocated to early adopters, accumulated by users will automatically convert into ZERO tokens, which will then be displayed on the rewards page.
Users can also stake ZERO tokens to access staking rewards, engage in voting and governance activities, and receive airdrops from partner projects like Pyth.
The duration of token staking directly impacts the magnitude of rewards received and the degree of influence in governance matters. Additionally, stakers receive a bonus ranging from 5% to 20% if they maintain the stake for over one year.
The snapshot for token distribution will be taken at a later date, nearer to the token generation event (TGE). At the TGE, after the automatic conversion of earlyZERO and Zero Gravity points, ZERO tokens will be accessible for claiming and staking through the rewards webpage.
Keep track of cryptocurrency distributions in our Airdrops Calendar.
ZERO Token Trading Goes Live On Major Crypto Exchanges
ZeroLend is the largest lending market across various Layer 2 solutions, encompassing Linea, zkSync, Manta, Blast, and X Layer. Its primary areas of focus include liquid restaking tokens (LRTs)lending, governance, real-world assets (RWAs) lending, and account abstraction.
Concurrently with the announcement, ZeroLend’s ZERO token became available for trading on several prominent cryptocurrency exchanges. These exchanges include OKX, Bybit, Kucoin, Bitget, MEXC, HTX, Gate, and Poloniex.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
