Chaos

LayerZero

Impact

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/layerzero-ends-self-reporting-phase" rel="noopener noreferrer nofollow">LayerZero Ends Self-Reporting Phase</a><br></p>
<p style="text-align: justify">LayerZero Labs has concluded its self-reporting phase for identifying and combating sybil activity and airdrop farming. Addresses matching specific criteria will receive 15% of the expected <a href="https://en.bitcoinhaber.net/solana-networks-meme-coin-surge-draws-investor-frenzy" rel="noopener noreferrer nofollow">token</a> allocation, while the remaining 85% will be distributed among eligible users. A total of 803,093 addresses were flagged as potential sybil addresses and will not receive the full token allocation after review.</p>
<h2 id="how-did-the-layerzero-team-respond">How Did the LayerZero Team Respond?</h2>
<p style="text-align: justify">Initially, over two million addresses were identified as potential sybils. However, LayerZero Labs refined their criteria to minimize false identifications, leading to a more precise classification. The complete list of flagged addresses, including those reported via whistleblowing and identified by LayerZero, Chaos Labs, and Nansen, has been publicly disclosed.</p>
<p style="text-align: justify">On May 3rd, LayerZero Labs introduced a self-reporting mechanism, offering 15% of the planned token allocation to identified sybil users within a defined 14-day period. The initial analysis aimed to identify large industrial sybil clusters and exclude them from reward eligibility. As calculations are refined, some addresses may be removed from the sybil list, making the final report non-definitive until its publication.</p>
<h2 id="what-is-the-impact-on-airdrop-activity">What Is the Impact on Airdrop Activity?</h2>
<p style="text-align: justify">Sybil reward hunting began on May 18th and will continue until June 1st. Participants must report at least 20 addresses with a clear methodology to qualify for a reward, which amounts to 10% of Sybil’s intended token allocation. All rewards will go to the first eligible reporter of each specific address. The initial list will remain unchanged during the reward hunt, although the team continues to refine their methods.</p>
<p style="text-align: justify">Sybil farming involves creating multiple fake accounts to unfairly gain tokens or rewards. The sybil analysis follows an initial snapshot taken on May 1st, related to a prospective airdrop distribution to community members.</p>
<h2 id="key-takeaways-for-users">Key Takeaways for Users</h2>
<p style="text-align: justify">– Participants must report at least 20 sybil addresses to qualify for rewards.<br> – The initial address list will not change during the reward phase.<br> – Eligible reporters can receive up to 10% of Sybil’s intended token allocation.</p>
<p style="text-align: justify">Decentralized finance protocols frequently use airdrop events to reward early users with newly issued cryptocurrencies. LayerZero’s ZRO token was the first token launched on the HyperLiquid futures exchange in September 2023.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/layerzero-ends-self-reporting-phase" rel="noopener noreferrer nofollow">LayerZero Ends Self-Reporting Phase</a></h5>

LayerZero Ends Self-Reporting Phase

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