ZeroLend Prepares For ZERO Token TGE On May 6th, and Plans Up To 17% Community Airdrop Distribution
In Brief
ZeroLend announced plans to carry out the token generation event for ZERO token on May 6th and outlined the details of the process.
Decentralized lending protocol ZeroLend (ZERO) announced its plan to carry out the token generation event (TGE) on May 6th and outlined the details of the process.
Token generation is a procedure in which a new blockchain-based project or platform generates capital by offering its native tokens for sale to investors and supporters.
As per the announcement, 15% to 17% of the total ZERO token supply will be distributed to the community through airdrops. This allocation includes 5% designated for Zero Gravity Points event participants and 10% to 12% distributed as earlyZERO tokens in a 1:1 ratio with ZERO. Both portions of the allocation will undergo a 40% upfront release, followed by a 3-month cliff and then a 3-month linear release period.
Furthermore, users can obtain 100 Zero Gravity Points by joining the ZeroLend Discord channel and completing the verification process. Additionally, users can earn up to 10 Zero Gravity Points by sending “GM” messages daily.
ZeroLend also highlighted that depositing and borrowing assets on its platform allows users to earn native yields, earlyZERO tokens, Zero Gravity Points, and potential rewards from partner projects. Regarding asset depositing, users can earn 1 Zero Gravity Point per dollar of assets per day, while for borrowing assets, users can earn 4 Zero Gravity Points per dollar per day.
Moreover, users can earn Zero Gravity Points through collaboration with partner projects. Thereby, PYTH stakers have the opportunity to earn 1 point for each staked token, MANTA stakers can acquire 5 points for every staked token, CAKE stakers can receive 0.25 points for each staked token, and MAHA stakers can obtain 1000 points for every MAHAX token.
Depositing ETH on the ZeroLend Ethereum Liquid Restaking Token (LRT) Market will grant users a double Zero Gravity Point increase.
Keep track of cryptocurrency distributions in our Airdrops Calendar.
ZeroLend is a rapidly expanding multi-chain lending protocol focusing on LRTs, Real World Assets (RWAs), privacy, and account abstraction.
ZeroLend’s ZERO token supply stands at 100 billion. After the introduction, the tokens will adhere to a linear vesting schedule, with a lock-up period extending to 4 years. Close to 30% of the total token supply will enter circulation during the TGE. Simultaneously, at the time of the TGE, the initial circulating market capitalization is projected to be approximately $5.25 million.
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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.
