LayerZero Foundation Announces Fee Conversion Vote

According to Foresight News, the LayerZero Foundation has announced the commencement of its second fee conversion referendum on June 20. ZRO token holders will vote on whether to activate the LayerZero protocol fees. A 'yes' vote will activate the fees, while a 'no' vote will keep them inactive. If activated, each LayerZero message will incur a protocol fee, which will be used to purchase and burn ZRO tokens. LayerZero noted that due to the overwhelming support in the first referendum, the quorum has been reduced. Only holders of circulating ZRO tokens, totaling 109 million, are eligible to vote, with a quorum set at 50.40%. If this threshold is surpassed, the majority vote will prevail. Voting will utilize the entire ZRO balance from a single chain. The voting period will conclude on June 27, 2025, and the next referendum is scheduled for six months later.