Zora announces 'for fun only' memecoin, with airdrop slated for spring 2025

Zora will launch its self-titled "memecoin" on the Optimism-based Base network in the coming months, according to an announcement on Monday. The forthcoming token is intended "for fun only" and doesn't give holders governance claims, the company noted.

The first ZORA snapshot occurred on Monday, with the second snapshot slated for three days before ZORA's official airdrop sometime in spring 2025. The token will have a 10 billion total token supply, with 26.1% going to contributors, 20% to incentives, 20% to the treasury, 18.9% to the Zora team, 10% to retroactive airdrops and 5% to maintaining liquidity.

Zora is a universal media registry protocol built using the Optimism tech stack. It was founded in 2020 and rolled out the decentralized, creator-focused Zora Network in 2023. "Zora has pioneered bringing creators and builders onchain and our team’s product and protocol innovations have been widely adopted," the team wrote on X. "Our ecosystem today includes teams building exciting consumer apps on the Zora protocol using powerful SDKs with an integrated business and distribution model."

In May 2022, Haun Ventures led a $50 million funding round for Zora, which netted the protocol a $600 million valuation at the time.

This article and its headline have been updated for clarity.