TL;DR
- Zora will launch its own token on the Base network and distribute 10% of the total supply in an airdrop for creators, collectors, and developers.
- 20% of the tokens will be reserved for community incentives such as hackathons and grants, while the team and collaborators will receive 45% with a three-year vesting period.
- The platform has developed its own layer-2 network on Ethereum to reduce gas costs and facilitate the creation of tokens tradable on Uniswap.
Zora, an NFT and asset tokenization protocol on Ethereum, will launch its own token, ZORA, on the Base layer-2 network. As part of this initiative, it will distribute 10% of the total supply in an airdrop aimed at creators, collectors, and developers. The allocation will be based on a snapshot taken on March 3, with a second record scheduled before the official launch.
How Will the ZORA Token Be Distributed?
In addition to the airdrop, 20% of the supply will be set aside for community incentives, including hackathons and future grants. The team and strategic contributors will receive 45%, subject to a three-year vesting period and a six-month cliff. A full breakdown of the distribution is available on the project’s official page.
Zora has evolved from an experiment into a well-established and successful platform within the crypto industry. To date, it has recorded over $376 million in secondary trading volume, and more than 2.4 million wallets have participated in buying and selling NFTs and tokens within its ecosystem.
The High Costs of Ethereum
In 2023, Zora launched its own layer-2 network to mitigate Ethereum’s high gas costs. This infrastructure has made it easier to create and trade digital assets without the economic limitations of the mainnet. The platform has also integrated a feature that allows any user to generate tokens tradable on Uniswap from any post.
Awaiting More Information on the Airdrop
The team has not yet disclosed the exact launch date of the token or the second snapshot. However, the community anticipates that the arrival of ZORA will strengthen the platform’s adoption and expand its use cases within the Ethereum ecosystem
