Zora chain announces long-awaited ZORA token launch on April 23

Source Cryptopolitan

Zora chain announced its long-awaited token generation event, which will favor early adoption. The L2 chain had one of the longest-running airdrop farming programs. 

Zora will launch its native ZORA token on April 23. This will complete one of the long-awaited token generation events (TGE) of 2025. The project announced that the airdrop will have a broad snapshot period and will favor early adopters. 

The Zora snapshot will go as far back as 2020, spanning multiple years of usage as a token-free protocol. 

The announcement almost immediately caused concerns that short-term users may receive a similar allocation to those who have been exposed to Zora for years. The project is yet to announce the exact allocations. 

Currently, user-generated allocation checkers are testing the top user addresses of prominent influencers. Zora offered multiple potential apps and activities over the years, including total ETH spent, posting, the minting of posts, referrals, rewards, and NFT ownership and usage. 

The Zora TGE announcement arrives just days after the chain started carrying a content coin, connected to the Base chain. The token lost value quickly after its launch, causing concern about shilling risky tokens, even with the backing of reliable chains like Base. The token, Base is for Everyone, quickly crashed after the announcement that it is not an official Base asset.

The exact utility of the token remains uncertain, leading to speculations that ZORA may launch as a meme asset, with no specific utility or security role. Pre-launch, ZORA is priced at $0.03 on the OTC market, with price pressures and risks from insider allocations. 

Zora chain announces long-awaited ZORA token launch on April 23
Zora chain raised $60M in VC rounds, with potential large-scale insider allocations for the ZORA token. | Source: Cryptorank

The unprecedented span of the snapshot goes through several crypto cycles and trends. Zora is a chain specifically created for NFT activity, and usage has been tied to some of the pre-approved collections. Zora NFTs are currently trading at relatively low prices, as the whole space has lost its appeal. 

Zora chain aims for L2 growth

While awaiting an airdrop, Zora retained a baseline activity for up to 10K active daily addresses. Zora was one of the minor L2 chains launched in the past years, which aimed for the spotlight. However, the chain mostly focused on NFTs and content, ending up with almost no DeFi apps and rock-bottom TVL

Zora is also ranked as a Stage 0 chain, using the Optimistic Rollup technology. Zora has not yet proven its decentralized consensus, and can fall victim to malicious proposals. Despite this, Zora has gained attention as an L2 specifically built for social media and on-chain fun. 

Zora managed to raise $60M, becoming one of the large-scale L2 projects during the 2021 bull market. The chain had support from Coinbase Ventures, and may continue to see support or even listings for the new token.

Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Bitcoin Moving With Stocks, But Ethereum’s Correlation Is FadingBitcoin has been showing notable correlation to the stock equities recently, but data shows Ethereum is charting a more independent path. Bitcoin & Ethereum Showing Different Degrees Of
Author  NewsBTC
7 Month 10 Day Thu
Bitcoin has been showing notable correlation to the stock equities recently, but data shows Ethereum is charting a more independent path. Bitcoin & Ethereum Showing Different Degrees Of
placeholder
Ripple’s $21 Trillion Dream: What Capturing 20% Of SWIFT Volume Means For XRPRipple Labs, a crypto payments company, continues to set its ambitions and those of XRP higher than ever as it edges closer to disrupting the global financial messaging giant SWIFT. After Ripple CEO
Author  NewsBTC
7 Month 14 Day Mon
Ripple Labs, a crypto payments company, continues to set its ambitions and those of XRP higher than ever as it edges closer to disrupting the global financial messaging giant SWIFT. After Ripple CEO
placeholder
Philippines' GDP Growth Rises to 5.5% in Second Quarter of 2025The Philippine economy expanded at a marginally faster pace in the second quarter of 2025, with GDP growing 5.5% year-on-year.
Author  Mitrade
8 Month 07 Day Thu
The Philippine economy expanded at a marginally faster pace in the second quarter of 2025, with GDP growing 5.5% year-on-year.
placeholder
Asia Stocks Cautious Before China Tariff Deadline; Australia Sets Record HighMost Asian stock markets were little changed on Monday as investors looked ahead to the looming expiration of the U.S.-China tariff truce, while Australian equities climbed to new highs on rate-cut expectations.
Author  FXStreet
3 hours ago
Most Asian stock markets were little changed on Monday as investors looked ahead to the looming expiration of the U.S.-China tariff truce, while Australian equities climbed to new highs on rate-cut expectations.
placeholder
Oil Prices Extend Losses as Traders Eye US-Russia Summit, Inflation DataOil prices declined in Asian trading on Monday, adding to sharp losses from last week as expectations of progress in U.S.-Russia talks dampened geopolitical risk premiums, while weak inflation data from China weighed on demand sentiment.
Author  FXStreet
3 hours ago
Oil prices declined in Asian trading on Monday, adding to sharp losses from last week as expectations of progress in U.S.-Russia talks dampened geopolitical risk premiums, while weak inflation data from China weighed on demand sentiment.
goTop
quote