LayerZero

<p class="is-style-lead">The co-founder and CEO of LayerZero Labs, Bryan Pellegrino, discussed concerns about company employees participating in its upcoming airdrop.</p> 
<p>In an X post on May 7, Pellegrino said that all the LayerZero Labs employees are “100% restricted” from participating in the platform’s long-awaited airdrop — first <a href="https://crypto.news/layerzero-plans-to-launch-native-token-in-h1-2024/" rel="">addressed</a> in December 2023.</p> 
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   <p lang="en" dir="ltr">Will announce something publicly about this, every LayerZero labs employee is 100% restricted from claiming and has no eligibility — it will be a fireable offense and has been announced internally for some time and has always been the case</p>— Bryan Pellegrino (臭企鹅) (@PrimordialAA) <a href="https://twitter.com/PrimordialAA/status/1787660605870215498?ref_src=twsrc%5Etfw" target="_blank" rel="">May 7, 2024</a>
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<p>He added the matter has already been shared within the company and is “a fireable offense.”</p> 
<p> You might also like: <a href="https://crypto.news/sec-issues-wells-notice-to-robinhood-crypto/" rel=""> SEC issues Wells notice to Robinhood Crypto </a> </p> 
<p>On May 1, 2023, the LayerZero team announced the tokenomics of the ZRO token as follows:&nbsp;</p> 
<ul> 
 <li>25% of the ZRO tokens are allocated to the ecosystem fund.</li> 
 <li>19% will be airdropped to the early adopters and users of the platform — this includes a 5% allocation for an Initial DEX Offering (IDO).&nbsp;</li> 
 <li>19% will be sent to the core contributors.</li> 
 <li>17% of the tokens are allocated to investors.</li> 
 <li>20% is allocated to Retroactive Public Goods Funding (RPGF) — actors who have completed projects on LayerZero which has already benefited the platform.</li> 
</ul> 
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  ZRO token allocation | Source: LayerZero 
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<p>After <a href="https://crypto.news/layerzero-confirms-snapshot-for-possible-airdrop/" rel="">completing its snapshot</a> on May 1, LayerZero is currently hunting Sybil actors — users who create multiple fake accounts to earn more rewards from an airdrop. Notably, the company announced the launch of its airdrop in the first half of 2024.</p> 
<p>In July 2023, a fake LayerZero airdrop <a href="https://crypto.news/fake-layerzero-airdrop-drains-victims-wallets/" rel="">drained user wallets</a> in a phishing attack. The bogus website stole funds from crypto wallets immediately after getting connected. However, the total amounts of the losses were not reported.&nbsp;</p> 
<p> Read more: <a href="https://crypto.news/bitcoin-jumps-above-65k-amid-fed-report-etf-inflows/" rel=""> Bitcoin jumps above $65k amid Fed report, ETF inflows </a> </p>

LayerZero to fire employees participating in internal airdrops

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