LayerZero Launches lzCatalyst with $300M to Support Its Ecosystem

On September 17, 2024, LayerZero Foundation announced plans to launch lzCatalyst—a $300 million ecosystem development support program.

The lzCatalyst program aims to connect projects building on the LayerZero platform with leading investment funds in the blockchain industry. Some of the participating funds include a16z Crypto, Animoca Brands, Delphi Ventures, Franklin Templeton, PayPal Ventures, and many other prominent names.

A key highlight of the program is that projects receiving interest from at least two investment funds will be granted direct support from LayerZero Foundation, both financially and technically.

LayerZero is an advanced cross-chain infrastructure protocol that enables decentralized applications (dApps) to operate across multiple blockchains. The project’s official token, ZRO, has already been listed on exchanges. However, LayerZero has faced some controversies surrounding the announcement of its airdrop list for users at the time.

Related: What is LayerZero? Information about ZRO Token

Following the announcement of the lzCatalyst program, the price of the ZRO token increased by 4%, currently trading around $4.