LayerZero Sets Oct. 20 Release of 23.63 Million ZRO Tokens

LayerZero’s Oct. 20 release of 23.63 million ZRO is approaching as the token trades around $2.20 to $2.23, putting scheduled new supply alongside attention on the project’s fee-based buyback plan.

The release allocates 10.63 million ZRO to core contributors and 13 million to strategic partners, or about 5.93% of float. The schedule makes the tokens available to recipients but does not establish how many will sell.

ZRO traded around $2.20 to $2.23 on Oct. 6. A move above $3 would require a further gain of about 35% from that range.

The token’s advance has coincided with LayerZero’s announcement of ATLAS, a trading system with a fee mechanism that includes ZRO purchases and burns. Venues receive rebates ranging from 20% to 65%; of the fees left after rebates, 75% goes toward buying and burning ZRO, while 25% goes to market creators. The amount directed to purchases and burns depends on trading activity and fees generated.

Technical analysis for ZRO identifies resistance reference points at $2.34, $2.54, $2.73 and $2.93. These are chart levels, not confirmed price targets.

The token release is scheduled for Oct. 20.