Venues must lock up 1% of ZRO supply to reach the top ATLAS rebate

LayerZero released ATLAS, a backend exchange system that operates on its Zero blockchain. Most of what is left after venue rebates goes toward buying and burning the ZRO token.

ZRO holders noticed quickly, and the token soared over 16% in 24 hours to $1.26.

Venues must stake 1% of ZRO supply for the top rebate

ATLAS charges a single all-in fee on every trade and then gives a rebate back to the venue that brought the volume.

On Open ATLAS, the rebate ranges from 20% to 65%, scaled to how much ZRO a venue stakes and the volume it drives, the company said.

A quarter of the remaining fee goes to the people that created the market. The other three quarters are used to buy ZRO on the open market and destroy it.

The burning mechanism makes exchange activity a constant buying pressure on the token and provides venues with an incentive to lock up supply.

LayerZero said the highest rebate tier requires a venue to stake up to 1% of the entire ZRO supply.

ATLAS is an acronym for Aggregated Trading, Liquidity, and Settlement. It’s a “headless exchange,” meaning it ships no consumer app and no front end of its own.

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