LayerZero Foundation Holds Fee Conversion Vote: What You Need to Know

The LayerZero Foundation has initiated a second fee conversion referendum on June 20th. ZRO token holders will have the opportunity to decide whether to enable LayerZero protocol fees. A ‘yes’ vote activates these fees, while a ‘no’ vote preserves their inactivity. If fees are activated, each message transmitted using the LayerZero protocol will incur a cost, which will be used to purchase and destroy ZRO tokens. 109 million circulating ZRO token holders are eligible to participate in this vote. A quorum of 50.40% must be reached for the majority vote to prevail.