LayerZero Labs has made an official announcement regarding the completion of the sybil self-reporting phase of their solution to address sybil activity, also known as “airdrop farming.” According to LayerZero, addresses that meet the necessary criteria will receive 15% of their expected token allocation, while the remaining 85% will be redistributed to eligible users. After a thorough review, a total of 803,093 addresses have been identified as potential sybil addresses and will not receive the full token allocation.
Initially, the team had identified over two million addresses as potential sybils. However, they later refined their criteria in order to minimize false identifications, resulting in a more accurate classification. The complete list of addresses, including those that were self-reported and those that were identified through initial examinations by LayerZero, Chaos Labs, and Nansen, has been made available to the public.
On May 3, the creator of the cross-chain communication protocol introduced a self-reporting mechanism, offering sybil users 15% of their planned token allocation if they were honest within a defined 14-day period. In a post, LayerZero clarified that the initial analysis aimed to identify large-scale sybil clusters and that the list was intended to exclude these clusters from being eligible for bounty hunting. However, the list should not be considered final until the publication of the definitive report, as addresses may be removed from the sybil list as calculations are refined.
The sybil bounty hunting process has started on May 18 at 2:00 pm UTC and will continue until May 31, 11:59 pm UTC. To be eligible for a reward of 10% of the intended token allocation for sybil, participants must report a minimum of 20 addresses using a clear methodology. The reward will go to the first eligible reporter of each address.
The team is currently perfecting the method, but the initial list will not change during the bounty hunt. Bounty hunters can proceed with their work without concern for the initial list. The final and authoritative list will be shared once the bounty hunt concludes.
Sybil farming refers to the creation of multiple fake accounts in order to unfairly acquire tokens or rewards. The sybil analysis follows the first snapshot taken on May 1 in relation to a potential airdrop distribution to community members.
Airdrops are widely used by decentralized finance protocols to generate more interest by rewarding early users with newly issued cryptocurrencies.
LayerZero’s ZRO was the first Hyperp (Hyperliquid-only perp) to launch on the HyperLiquid perpetual futures decentralized exchange in September 2023.
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