Token

EigenLayer

LayerZero

LayerZero, a leading blockchain interoperability protocol, has recently <a href="https://x.com/LayerZero_Fndn/status/1803294040068165809" rel="noopener noreferrer nofollow">launched </a>an eligibility checker for its forthcoming token airdrop. According to a <a href="https://x.com/PrimordialAA/status/1803300720336068723" rel="noopener noreferrer nofollow">post </a>on X, this feature allows users to verify their eligibility for the airdrop and review a summary of their activity on the platform, including their account start date and the total number of transactions they have made.&nbsp;
<h2 id="b-eligibility-checker-to-drive-further-engagement-on-the-platform-b">Eligibility Checker to Drive Further Engagement on the Platform</h2>
In another <a href="https://x.com/PrimordialAA/status/1803298213572538773" rel="noopener noreferrer nofollow">tweet</a>, LayerZero Labs CEO, Bryan Pellegrino, announced that 1.28 million wallets qualify for this airdrop, highlighting the platform’s extensive user base and widespread adoption. The eligibility checker is designed to provide users with a straightforward way to determine if they are eligible for the airdrop, a common incentive mechanism in the blockchain industry to reward early adopters and active users.&nbsp;
Interestingly, the announcement of the eligibility checker has generated significant buzz within the cryptocurrency community. Users are eager to see if they qualify for the airdrop and how much they might receive. This anticipation is expected to drive further engagement on the LayerZero platform, as users check their eligibility and potentially increase their activity to qualify for future rewards.
Days ago, Bryan revealed in another <a href="https://x.com/primordialaa/status/1801708740736880790?ref=bankless.ghost.io" rel="noopener noreferrer nofollow">tweet </a>that 23.8% of the token supply will go directly to the community and builders. 8.5% of the supply will be distributed on day 1, while most remainder will be given over the next 3 years. Also, there will be additional retroactive distribution yearly, with some forward-looking requests for proposals (RFPs) for builders.
<h2 id="b-layerzero-identified-sybil-addresses-b">LayerZero Identified Sybil Addresses</h2>
In May, <a href="https://thecoinrise.com/layerzero-unmasks-over-800000-sybil-addresses-in-major-crackdown/" rel="noopener noreferrer nofollow">LayerZero Labs announced the conclusion of the Sybil self-report phase</a>, which is the platform’s way to address Sybil’s activity, also called “airdrop farming.” Sybil farming is the creation of numerous fake accounts to acquire tokens or rewards. With self-reporting, the developers will ensure that token distribution rewards those who positively contribute to the network’s growth and sustainability.&nbsp;
The <a href="https://thecoinrise.com/layerzero-teases-sybil-fighting-push-with-self-reporting-strategy/" rel="noopener noreferrer nofollow">main objective is to prune out manipulators of the system</a>. A total of 803,093 addresses were identified as potential Sybils. These addresses are disqualified from receiving a token allocation.&nbsp;
<h2 id="b-eigenlayer-token-airdrop-distribution-strategy-b">EigenLayer Token Airdrop Distribution Strategy</h2>
Last month, the EigenLayer token airdrop brought significant attention to the cryptocurrency space. This followed the emergence of Tron founder and CEO, <a href="https://thecoinrise.com/tron-founder-justin-sun-claims-2m-tokens-in-epic-eigenlayer-airdrop/" rel="noopener noreferrer nofollow">Justin Sun receiving over $2 million worth of EIGEN tokens</a> in the Phase 1 distribution.
The Eigen Foundation, overseen by Eigen Labs, officially launched the EIGEN token claims process on May 10, 2024, marking the beginning of Season 1. Notably, this phase offers approximately 113 million EIGEN tokens, constituting 6.05% of the token’s initial supply. Meanwhile, interested participants can claim tokens via the Eigen Foundation’s designated platform until September 7, 2024.
EigenLayer has <a href="https://thecoinrise.com/eigenlayer-overtakes-aave-in-tvl-rankings-ethereum-inches-closer-to-ath-nuggetrush-enters-launchpad-round-of-presale/" rel="noopener noreferrer nofollow">devised a strategic token distribution plan</a> with Phase 2 scheduled for mid-June, to guarantee widespread participation and sustained community engagement.
The post <a href="https://thecoinrise.com/layerzero-launched-eligibility-checker-ahead-of-token-airdrop/" rel="noopener noreferrer nofollow">LayerZero Launched Eligibility Checker Ahead of Token Airdrop</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

LayerZero Launched Eligibility Checker Ahead of Token Airdrop

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