Quick Summary:
- ZORA is set to release native ZORA token on the Zora NFT platform on April 23.
- Tokens will be opened on Coinbase Base blockchain although Zora is Ethereum-based.
- Depending on their eligibility, Binance Alpha users have the right to obtain 4,276 ZORA tokens.
- ZORA allocates 10 percent of its overall supply to users.
- The Tokens are communal ZORA; the governance rights are nonexistent.
A courageous step towards the future of tokens by Zora
The launch of its own native ZORA token, which will take place on April 23, is a huge step forward of the innovative Ethereum-based NFT platform, declared Zora. Although the platform is firmly tied to Ethereum ecosystem, it is opting to use the Base network offered by Coinbase, a decision that shows how Base is acquiring a good reputation and scalability.
So why Base blockchain?
Although Zora is an Ethereum project, it is issuing the token on Base to be even more accessible and reach as many people as possible. Base network has proven to be highly reliable with an increase in on-chain activity and thus it is the most suitable to launch a high-profile token.
Binance Alpha has Exclusive Airdrop
Big crypto exchange Binance stated that its eligible users would get 4,276 ZORA tokens in their Binance Alpha accounts on April 23. In order to get qualified, the users had to spend minimum 50 dollars on Binance Alpha within the last 30 days.
Tokenomics: The Distribution of ZORA
In a subsequent announcement in March, Zora outlined the distribution of its token supply:
- 10 percent distributed to users at launch
- 20 percent future community incentives
- 20 percent to the Zora treasury (unlocked within 4 years)
- 5 percent liquidity
- 18.9 percent invested in members of the team
- 26.1 percent to the contributors of the project
So what is next to Zora?
Although ZORA tokens will not provide governance rights, the launch will be an important step in Zora becoming a complete on-chain social network. That is a definite indication that the platform is serious about expansion, decentralization, and expanding the bottom.
The 23rd of April may turn into a turning point of the Zora ecosystem and its proponents — stay tuned.