LayerZero offers sybil farmers chance to 'self-report' in the name of durability

Crypto Ecosystems • May 3, 2024, 3:42PM EDT
Published 1 minute earlier on
LayerZero

Quick Take

  • In the hopes of curbing the ills of excessive airdrop farming, or sybil activity, LayerZero Labs offered users the option to self-report with the promise of receiving “15% of their intended allocation.”
LayerZero Labs appears to want nothing to do with excessive airdrop farming, or sybil activity.
 
"We believe it is in the protocol's best interest to distribute tokens to durable users, not sybil farmers," the developer posted to X on Friday.
 
In the hopes of curbing the ills of sybil activity, LayerZero Labs also offered an incentive. "We are giving all sybil users an opportunity to self-report within the next 14 days in return for 15% of their intended allocation, no questions asked," it added.
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LayerZero Labs is the developer of a cross-chain communication protocol. On Thursday, it completed the first snapshot apparently related to a potential airdrop distribution to community members. The snapshot — the final point at which transactions count for eligibility of the airdrop — was finalized at 11:59:59 p.m. UTC on May 1, 2024, the team said in a graphic shared on X.

Generally, airdrops fit into a broader strategy of rewarding early users while establishing decentralized governance power within a network. Excessive airdrop farming, or sybil activity, involves an individual using hundreds, maybe thousands, of addresses to gobble up tokens for the sole purpose of more or less dumping them immediately.

Only time will tell if LayerZero Labs's effort to appeal to sybil users' sense of fairness pays dividends. The developer said in a blog post the self-reporting deadline is May 17.

In the same blog post, the developer also proclaimed: "If you think you are a sybil, you are most likely a sybil."

Specific rewards for network use have not been detailed but the timing of the potential airdrop follows an earlier LayerZero Labs's statement of a token launch targeted for the first half of 2024.

 

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RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master's degree in Digital Sociology.

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