Coinbase, Binance, and several other leading cryptocurrency exchanges worldwide swiftly initiated trading for a novel altcoin linked to an “omnichain” initiative. LayerZero, touting itself as an interoperability protocol for omnichains, endeavors to facilitate seamless data transmission across various blockchains. It also supports uncensorable messages and unrestricted development through immutable smart contracts.

This Thursday marked the launch of LayerZero’s native token, ZRO. Binance integrated the asset with a preliminary designation, while Coinbase assigned it an experimental tag. Both labels caution users about potential volatility and lower liquidity associated with new tokens.

Notably, additional major exchanges such as OKX, Bybit, Crypto.com, and Bitfinex also listed ZRO on the same day.

Simultaneously, the LayerZero Foundation introduced a novel ZRO claiming mechanism dubbed “proof-of-donation,” aimed at bolstering the Protocol Guild. This guild serves as a collaborative funding platform for Ethereum (ETH) development. According to the foundation, contributions to the Protocol Guild demonstrate long-term alignment with LayerZero’s protocol and a commitment to the future of crypto.

To claim ZRO, users are required to donate $0.10 in USDC, USDT, or native ETH per ZRO token. The LayerZero Foundation pledges to match all donations up to $10 million.

Despite its initial market cap ranking of 90th, the governance token witnessed a nearly 20% decline on its first trading day, currently priced at $3.57 at the time of writing.

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