2024

LayerZero

LayerZero Labs has officially excluded its employees from participating in the forthcoming airdrop of its tokens, according to a recent statement from CEO Bryan Pellegrino. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 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— Bryan Pellegrino (臭企鹅) (@PrimordialAA) <a href="https://twitter.com/PrimordialAA/status/1787660605870215498?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 7, 2024</a>
 </blockquote> 
 </div>
</figure> 
He emphasized that any employee’s attempt to claim tokens would be considered a fireable offense, reinforcing the company’s commitment to transparency and fairness in the distribution process.&nbsp; 
Pellegrino confirmed the internal policy has been in place for some time, ensuring no LayerZero Labs employee is eligible to participate in the airdrop. This decision aims to prevent conflicts of interest and maintain the integrity of the airdrop event. 
LayerZero is a protocol built by LayerZero Labs that can be used to build applications over any blockchain that supports programmable security primitives. 
LayerZero has been proactive in beefing up its security measures. Even more has been implemented since the July 2023 phishing incident, in which scammers used a fake airdrop to siphon funds from their wallets. The actual loss is not disclosed. Moreover, the protocol is now<a href="https://www.cryptotimes.io/2024/05/04/layerzero-token-launch-and-anti-sybil-measures-set-for-2024/"> implementing anti-Sybil measures</a> to ensure a fair distribution of its native token, scheduled for launch in early 2024, to nearly 6 million users who are committed to the platform’s long-term growth.

LayerZero Labs Bans Employees from Airdrop Participation

The Crypto Times

Other articles published on May 7, 2024

Exploring Market Value Fluctuations: Spotlight on Bitcoin (BTC) and Ethereum (ETH) in the Crypto ...

Bitcoin, Ethereum, Dogecoin Trading Mostly Sideways, Trader Sees More ETF Inflows As Key To Resta...

Experts Say VeChain (VET) is ‘Cooking Something’ in the Real World Asset industry – Here’s Why

Bitcoin Analyst Predicts Potential Rise to $90,000

Bitget PoolX Announces Listing of MODE (MODE) (7 May)

Poloniex Hacker Launders $308K ETH Through Tornado Cash

Join our free newsletter for daily crypto updates!