What is LayerZero?

In the article “What is LayerZero, the Hot Airdrop Token?”, it explains what LayerZero is. In simple terms, it is a solution to cross-chain interoperability, enabling tokens from different public chains to communicate with each other. For example, ETH can be used on the SOL network, and vice versa. With the continuous emergence of new public chains, the coexistence of multiple chains is inevitable. It is impractical for all chains to be based on Ethereum alone, as Ethereum itself was created due to dissatisfaction with Bitcoin. When tokens on different public chains are not mutually compatible, each chain operates within its own ecosystem with separate wallets. Cross-chain security poses significant challenges and is susceptible to attacks. LayerZero aims to address this pain point.

Therefore, LayerZero is referred to as the “universal chain.” For more technical details, you can refer to the article “What is LayerZero, the Hot Airdrop Token?”

What is $Zero token?

Through unofficial channels, it is said that the token issued by LayerZero is called Zero. In April, LayerZero secured a $120 million financing round from A16Z and Coinbase, with a valuation of up to $3 billion. Many renowned investment firms participated in the funding, including Sequoia Capital and Christie’s auction house. It is one of the most high-profile projects with significant attention this year. After the announcement of the second round of investment, there was a surge in interactive data. The official cross-chain product Stargate has had transaction volumes of around 150,000 within the past two weeks, with a trading volume exceeding $100 million in a 24-hour period.

While the official announcement regarding token issuance has not been made, considering LayerZero as a new blockchain and the financing from Coinbase, it is highly likely that LayerZero will issue its token. Given the circumstances surrounding the ARB community airdrop, there is a high probability of a Zero token airdrop. Currently, there are many false airdrop rumors circulating in the market regarding LayerZero. Therefore, the following airdrop guide is formulated based on the interaction scenarios required for the Arbtrium airdrop.

Please note: The initial operation with LayerZero may feel unfamiliar. It is recommended to spread out the airdrop tasks over approximately three days rather than completing them all at once. As it involves cross-chain Ethereum, there will be gas fees, and the total cost of completing the entire task may exceed 100U. Therefore, it is important to perform these tasks when gas fees are relatively low.

All the task links start from the official website layerzero.network. Simply scroll down to the “Bridges” section at the bottom of the website, which lists the interactive tasks to be completed.

Zero Token Airdrop Interaction Guide

Step 1: Preparation. In addition to having the MetaMask wallet, you need to download and install the Pontem wallet, which is the Pontem network’s Google Chrome extension (pontem.network). This is because cross chain interaction requires the use of the LayerZero wallet.

Step 2: Click on “Aptos” for the first interaction. This interaction involves cross-chain transfer of a portion of ETH to the Pontem wallet, and you can use any network for this purpose. The process of cross-chain transfer is similar to zkSync‘s cross-chain method. You will need to log in to both the MetaMask and Pontem wallets. Choose “ETH to Aptos” for the cross-chain transfer, which means transferring ETH from Ethereum to the Aptos network, the officially supported public chain. It is recommended to select approximately 0.02 ETH based on Gas Fees, as the Pontem wallet will not be used for the remaining tasks. Note that the top of the official website provides information stating that if you want to transfer ETH back from Aptos to MetaMask, it will take at least 2.5 days.

Please note that the provided instructions and gas fees are subject to change, and it’s essential to refer to the official website and follow the latest guidelines for the Zero token airdrop.

Another point to note is not to transfer Ethereum to Pontem and immediately transfer it back. It is recommended to wait until the next day to perform such an operation. Sometimes, you may encounter the message “Not Enough Native For Gas,” which indicates that the LayerZero network is currently experiencing issues. In most cases, the Gas Fee required to transfer ETH back to the MetaMask ARB network or OP network is less than $0.1. If you encounter this situation, you need to wait for a few hours or days before transferring ETH back to the MetaMask wallet.

Step 3: Click on the button “BTC.B,” at the bottom. BTC.B is LayerZero’s Bitcoin, which is a Bitcoin that can operate on smart contracts and is not the actual Bitcoin. This task involves an interaction on the AVAX chain. To perform this interaction, you need to prepare the following:

1. Ensure that the MetaMask wallet supports the AVAX chain. You can add AVAX C-Chain to MetaMask through Chainlist.org.
2. Purchase an AVAX coin on the decentralized exchange BingX because the DEX traderjoexyz.com, required for the third step, is an AVAX exchange.
3. On the AVAX exchange traderjoexyz.com, use MetaMask to swap two BTC.B tokens, which will cost approximately $2. Note that BTC.B does not have many practical use cases and is supported by only a few centralized exchanges. It is not recommended to purchase BTC.B. After the interaction, it is suggested to leave the tokens on the exchange as gas fees for transferring them back to the mainnet will be at least $3. There is a possibility that the price may increase in the future.
4. Add the Arbitrum network to the MetaMask wallet using Chainlist. The reason for using the Arbitrum network is that it has the lowest cost. If users don’t mind the high Gas Fees on the Ethereum network,  then can choose the ETH mainnet when performing the AVAX cross-chain transfer.

Once the preparation work is completed, you can proceed with the BTC.B task.

Step 4: Click on “USDC” at the bottom of website. This task involves a cross-chain interaction with USDC, which can be claimed on the testnet. You can claim 1U per day. If you have previously connected to the AVAX chain, the claimed testnet USDC will be deposited into your MetaMask AVAX wallet. It’s important to note that the claimed USDC is a test token and cannot be used for regular transactions.

The testnet option is located at the bottom of the cross-chain tasks. Currently, testnet interactions are temporarily paused. Once they are available again, you can try this task.

If the Gas Fee is at its lowest, it is recommended to use Optimism and perform the tasks when the Ethereum GWEI is below 40.

Summary

In general, LayerZero’s interactions involve multiple public chains, making it more time-consuming. In addition to the mentioned tasks, LayerZero also has its own domain name. Compared to ZK’s domain name, which is free for life, LZ’s domain name costs 9U per year, including Gas Fees, which amounts to around 30 USD. However, its usage scenarios are very limited, and it cannot be used in the Pontem wallet. The only advantage is that domain names can be directly sold on Opensea, but liquidity is relatively poor. Considering that LayerZero’s airdrops may be based on user transaction volume or interaction frequency, interested users can try to complete these tasks.

Additionally, there is a task involving staking STG tokens on LayerZero. However, due to the recent unfavorable price of STG, staking may incur certain risks and losses. This guide does not provide instructions for this task.