Project Updates
The LayerZero community will launch Fee Conversion Referendum #2 on June 20, which, if passed, will use the protocol fees to purchase and burn ZRO. LayerZero stated that the quorum has decreased due to the overwhelming majority of votes in favor during the first referendum. Only holders of circulating ZRO (109 million tokens) are eligible to vote, with a quorum of 50.40%. If this number is exceeded, a simple majority will apply. Voting will be conducted using the entire ZRO balance from one chain. Voting will end on June 27, 2025. The next referendum will be held in 6 months.
