2024

LayerZero

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<p class="is-style-lead">The LayerZero Labs team hinted at information that may disqualify the majority of airdrop hunters who farmed the expected ZRO airdrop for some two years.&nbsp;</p>
<p>LayerZero CEO Bryan Pellegrino reportedly said that less than 15% of wallets that interacted with the protocol would be eligible for the upcoming airdrop scheduled for this year’s first half.&nbsp;</p>
<p>On May 8, WuBlockchain cited a private <a href="https://t.me/c/1540062342/115724" target="_blank" rel="noopener noreferrer nofollow">Telegram</a> message where Pellegrino supposedly espoused doubts regarding the validity of most addresses. In the text, the LayerZero Labs co-founder noted that fewer than three million out of six million possible addresses had only made a single transaction.&nbsp;</p>
<p>Furthermore, Pellegrino estimated that about 400,000 to 800,000 addresses were real users rather than Sybil participants.</p>
<p>You might also like: <a href="https://crypto.news/layerzero-confirms-snapshot-for-possible-airdrop/" rel="noopener noreferrer nofollow"> LayerZero confirms snapshot for possible airdrop </a></p>
<h2 class="wp-block-heading" id="layerzero-tackles-sybil-problem-with-filtering-plan">LayerZero tackles Sybil problem with filtering plan</h2>
<p>Sybil users create a cluster of addresses to interact with protocols during airdrop participation and accrue rewards by “gaming the system.” The wallets are often controlled by a single entity or a group aiming to secure a larger allocation.&nbsp;</p>
<p>Typically, Sybils may snatch chunks of the airdropped tokens from other users, but LayerZero shared a plan to address this concern.&nbsp;Pellegrino and the team <a href="https://crypto.news/layerzero-to-fire-employees-participating-in-internal-airdrops/" rel="noopener noreferrer nofollow">unveiled</a> a “report-to-earn” scheme, allowing Sybils to self-report and retain 15% of the allocation or risk receiving zero if caught by other users.&nbsp;</p>
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   <p lang="en" dir="ltr">Sybil Report<br>LayerZero has been working with industry-leading partners <a href="https://twitter.com/chaos_labs?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@chaos_labs</a> and <a href="https://twitter.com/nansen_ai?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@nansen_ai</a> to conduct our sybil detection report. This analysis will consider every user’s total transactions weighted across all LayerZero applications with the goal of aligning TGE with… <a href="https://t.co/5WmSHhQSYx" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/5WmSHhQSYx</a></p>— LayerZero Labs (@LayerZero_Labs) <a href="https://twitter.com/LayerZero_Labs/status/1787608904177746004?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">May 6, 2024</a>
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<p>The platform also promised a reward for users who successfully identify and report Sybil farmers. So far, the initiative has received mixed reactions from community members.&nbsp;</p>
<p>Some have agreed that the idea will discourage Sybil hunters from diluting airdrops, while others <a href="https://x.com/vydamo_/status/1787603244459655203" target="_blank" rel="noopener noreferrer nofollow">complained</a> that the process would nullify over 24 months of farming.&nbsp;</p>
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   <p lang="en" dir="ltr">GG, 2 years of farming wasted because layer zero got these milady nerds acting like bounty hunters man what the fuck <a href="https://t.co/v6G42Gkkgd" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/v6G42Gkkgd</a></p>— vydamo (@vydamo_) <a href="https://twitter.com/vydamo_/status/1787603244459655203?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">May 6, 2024</a>
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<p>Read more: <a href="https://crypto.news/layerzero-to-fire-employees-participating-in-internal-airdrops/" rel="noopener noreferrer nofollow"> LayerZero to fire employees participating in internal airdrops </a></p>

LayerZero CEO: 85% of addresses may be ineligible for airdrop

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