Insights on Token Distribution at ZeroLend’s Crypto Airdrop as Community Reacts

ZeroLend recently announced the launch of a crypto airdrop of ZERO tokens on the Linea ecosystem, which took place on May 6 at 7:30 UTC, attracting attention from cryptocurrency enthusiasts.

The transition to the new airdrop system for ZeroLend users has been seamless, with existing Zero Gravity points and early ZERO tokens automatically converted to ZERO at the start of the airdrop. Users are now able to claim and stake ZERO on Linea, regardless of where the points were originally earned.

The airdrop includes 13% of its total dedicated to early ZERO token holders, as well as an additional 5% from converted Zero Gravity points obtained through the platform’s native airdrop mechanism. ZERO serves as a utility and governance token within the ZeroLend ecosystem, utilizing LayerZero technology to bridge multiple blockchain networks.

Approximately 18% of the total token supply is allocated for the community through this airdrop, with 40% of the tokens distributed upfront during the event and the remaining 60% scheduled for release over six months. This distribution strategy aims to strike a balance between providing immediate liquidity to participants and following a structured release typical of private sale conditions.

Despite the excitement surrounding the airdrop, some community members have voiced concerns about the distribution process. Ben’s Crypto, a well-known content writer and business development representative, criticized the distribution, pointing out discrepancies that have left certain eligible members without their rightful tokens.

ZeroLend has urged community members to exercise caution and verify information through official channels to avoid falling victim to potential scams. Presently, ZERO is available for trading on centralized cryptocurrency exchanges such as Bitget, with a current price of [or_text model=”openai/gpt-3.5-turbo” prompt=”You are a news editor expand and Rewrite the following article, remove references to the source, make sure the generated article is well written, makes sense and is SEO enabled:

ZeroLend has launched a crypto airdrop of ZERO tokens on the Linea ecosystem.

The event occurred on May 6 at 7:30 UTC, generating interest among cryptocurrency enthusiasts.

ZeroLend’s Crypto Airdrop

For users of ZeroLend, the transition to the new airdrop system has been designed to be smooth. Existing Zero Gravity points and early ZERO tokens were automatically converted to ZERO at the launch of the airdrop. Furthermore, users can claim and stake ZERO on Linea, regardless of where the points were originally earned.

The airdrop includes 13% of its total dedicated to early ZERO token holders and an additional 5% from converted Zero Gravity points, which were accumulated through the platform’s native airdrop mechanism.

ZERO is a utility and governance token within the ZeroLend ecosystem, bridging multiple blockchain networks using LayerZero technology. About 18% of the total supply is earmarked for the community through this airdrop. Community members received 40% of their tokens upfront during the event, with the remaining 60% distributed over six months.

This aims to provide a balance between the immediate liquidity provided to participants and the structured release typical of private sale conditions.

Read more: Best Upcoming Airdrops in 2024

Despite the planned airdrop, some community members have expressed dissatisfaction regarding the distribution process. For instance, Ben’s Crypto, a content writer and business development representative, criticized the airdrop, highlighting disparities in token distribution that have left some eligible members without tokens.

“Sorry to say but ZeroLend sh!tted on the community like the others. I have 400,000 early ZERO in one wallet and over 400,000 gravity points in another. Checking now, I can see I’m eligible to claim 0 ZERO,” Ben’s Crypto claimed.

Still, ZeroLend emphasized the importance of vigilance against potential scams, advising community members to verify information through official channels before taking any action. Currently, ZERO is being traded on centralized cryptocurrency exchanges like Bitget, where its price stands at $0.0006. It was recently listed on KuCoin, Gate.io, OKX and more.

“].0006. The token was recently listed on platforms like KuCoin, Gate.io, and OKX, expanding its reach within the crypto market.