Chaos

LayerZero

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/layerzero-labs-concludes-self-reporting-phase-for-sybil-activity/" data-wpel-link="internal">LayerZero Labs Concludes Self-Reporting Phase for Sybil Activity</a><br></p>
<p class="p1" style="text-align: justify"><strong>LayerZero Labs</strong> officially announced the end of the self-reporting phase for solutions targeting sybil activity or airdrop farming operations. According to LayerZero, addresses meeting the criteria will receive 15% of the expected <a href="https://en.coin-turk.com/challenges-remain-for-shiba-inu-despite-efforts-to-regain-uptrend/" data-wpel-link="internal">token</a> allocation, while the remaining 85% of the tokens will be redistributed to eligible users. A total of 803,093 addresses were flagged as potential sybil addresses that will not receive the full token allocation after review.</p> 
<h2 class="p1" style="text-align: justify" id="layerzero-team-responds-promptly">LayerZero Team Responds Promptly</h2> 
<p class="p1" style="text-align: justify">The team initially identified over two million addresses as potential sybils but later refined their criteria to minimize false identifications, resulting in a more accurate classification. The full list of addresses, including those reported via whistleblowing and identified through initial <a href="https://newslinker.co/" data-wpel-link="exclude">reviews</a> by <strong>LayerZero</strong>, Chaos Labs, and Nansen, has been made public.</p> 
<p class="p1" style="text-align: justify">On May 3rd, the creator of the cross-chain communication protocol launched a self-reporting mechanism offering 15% of the planned token allocation to identified sybil users within a defined 14-day period. In an X post, <strong>LayerZero</strong> explained that the initial analysis aimed to identify industrial sybil clusters and exclude large clusters from reward eligibility. However, as calculations are corrected, addresses may be removed from the sybil list, so the final report should not be considered definitive until published.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-353165" src="https://coin-turk.com/wp-content/uploads/2024/05/layerzero.png" alt="" width="500" height="591"></p> 
<h2 class="p1" style="text-align: justify" id="layerzero-and-airdrop-activity">LayerZero and Airdrop Activity</h2> 
<p class="p1" style="text-align: justify"><strong>Sybil</strong> 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 amounting to 10% of Sybil’s intended token allocation. All rewards will go to the first eligible reporter of a specific address. The team is perfecting the method, but the initial list will not change during the reward hunt.</p> 
<p class="p1" style="text-align: justify">Sybil farming refers to creating multiple fake accounts to unfairly obtain tokens or rewards. Sybil analysis follows the initial snapshot taken on May 1st related to a potential airdrop distribution to community members.</p> 
<p class="p1" style="text-align: justify">Decentralized finance protocols commonly use airdrop events to generate more interest by rewarding early users with newly issued cryptocurrencies. <strong>LayerZero’s</strong> 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 COINTURK NEWS: </span> <a href="https://en.coin-turk.com/layerzero-labs-concludes-self-reporting-phase-for-sybil-activity/" data-wpel-link="internal">LayerZero Labs Concludes Self-Reporting Phase for Sybil Activity</a></h5>

LayerZero Labs Concludes Self-Reporting Phase for Sybil Activity

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