LayerZero Sets 23.63 Million ZRO Token Unlock for Oct. 20

LayerZero has scheduled the release of 23.63 million ZRO on Oct. 20, an allocation equal to 5.93% of the token’s circulating supply.

The unlock is set for 1:33 a.m. ET (05:33 UTC). Core contributors will receive 10.63 million ZRO, while strategic partners are allocated 13 million tokens.

The schedule identifies when the tokens become available but does not specify how many will enter the market. It also does not establish whether recipients will sell their allocations.

ZRO’s circulating supply is 399.18 million, with a maximum supply of 1 billion. As of June 3, 514 million ZRO had been unlocked and 486 million remained subject to vesting.

The LayerZero Foundation repurchased 50 million ZRO from strategic partners and re-locked the tokens until the launch of the Zero mainnet. The repurchased tokens therefore remain subject to a separate lockup condition.

ZRO is the native token of LayerZero’s interoperability network, which connects blockchains. Anchorage Digital selected LayerZero as its interoperability partner for stablecoin issuance, supporting cross-chain functionality for stablecoins issued through Anchorage Digital Bank.

ZRO’s supply and distribution changed after the Stargate Finance (STG) merger into ZRO. Binance completed the conversion on Oct. 7 at a ratio of 1 STG to 0.08634 ZRO. KuCoin announced that its conversion would use the same ratio and scheduled the closure of STG trading for 5 a.m. ET (09:00 UTC) on Oct. 10.

The upcoming unlock follows a previous report on ZRO’s 21% gain over 24 hours. The next scheduled event is the Oct. 20 release of the 23.63 million tokens.