ZRO Token Plummets 17% Amid LayerZero's Not an Airdrop Controversy

Bittime - LayerZero's recentlaunch of the ZRO token caused huge controversy. Although ZRO's price initially jumped 15.15% to $4.71, in the next two hours, it plunged 22%. The main cause is a token claiming mechanism that requires users to contribute $0.10 per ZRO, which some consider to be a form of “tax”.

Crypto Community Reaction

LayerZero's move drew criticism from the crypto community, which stated that this changed the essence of the " airdrop " to be more similar to an Initial Coin Offering ( ICO ). Many users expressed their disappointment, stating that they should not have to pay to claim the tokens.

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LayerZero Defense

LayerZero insisted that the ZRO launch was not an airdrop. They argue that airdrops often no longer achieve the goals of fair distribution, community building, and protocol soundness. LayerZero also emphasizes that there are no forced donations; if users don't want to donate, they don't need to claim tokens.

Pros and cons

Some members of the crypto community agree that the ZRO donation mechanism could be a positive step for future airdrops, helping to reduce Sybil operations. However, skepticism remains, especially amidst the falling price of ZRO which is currently trading at $3.35, down 17% in the last 24 hours according to CoinMarketCap data.

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Conclusion

The controversy surrounding the launch of LayerZero's ZRO shows how sensitive the crypto market is to changes in token claiming policies. While some see positive potential, negative reactions from the community highlight the importance of transparency and trust in new token launches.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn Complete Guide How to Buy Crypto on Bittime . 

Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

LayerZero Airdrop: Complete Guide to Get $ZRO Tokens

Blum Airdrop: Here's Everything You Need to Know!

12 LISTA Airdrop Recipient Entities Release 25 Million Tokens!

DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.