LayerZero Token (ZRO) Falls 7.1% From Oct. 22 High Near $2

LayerZero token (ZRO) was quoted at $1.8460 at 11:30 a.m. ET (15:30 UTC) on Oct. 22 after coming within cents of $2 earlier in the day, putting it about 7.1% below its $1.9870 session high. The figures track Binance’s ZRO/USDT spot pair.

LayerZero plans to launch its Zero mainnet and lzATLAS exchange engine together on Nov. 30. The company announced the date Oct. 20; its rollout plan would bring the network and its first application online at the same time.

Zero is a multi-core blockchain designed for general-purpose computation, payments and global markets. ATLAS is planned as trading infrastructure behind participating venues, handling order matching, clearing, settlement and risk management while the venues provide customer-facing products.

LayerZero’s design assigns ZRO the role of Zero’s gas asset and a role in securing the network through delegated proof of stake. Under the planned ATLAS fee model, venues would receive rebates of 20% to 65%. Of the fees remaining after rebates, 75% would fund ZRO purchases and burns, while 25% would go to market creators. The effect on ZRO demand will depend on activity after the scheduled Nov. 30 launch.