BlockBeats News, February 27 — LayerZero Labs co-founder and CEO Bryan Pellegrino announced on social media, "As promised, all remaining DAO-held STG has been burned. The swap contract remains open to everyone. STG has now been renamed to ZRO."

LayerZero co-founder Bryan Pellegrino stated that Zero Chain will not issue new tokens. ZRO is the only asset, used for staking and Gas fees, and the platform's revenue will go to ZRO holders. Tokens repurchased by institutions and early investors account for 19.77% of the total supply. Zero mainnet is expected to launch this fall.