LayerZero Unveils ATLAS Exchange Engine

The notable design choice here is the split between venue rebates and token buybacks, effectively making ZRO's supply mechanics depend on trading activity LayerZero does not itself control. That places the burden on venues to opt in, since the rebate is the incentive, while the burn is the pitch to token holders. Whether that bargain holds — venues routing flow for rebates, and enough of it to matter for the burn — is the open question, and it is a test of whether fee-share models can bootstrap liquidity without subsidizing it indefinitely.