The LayerZero Labs team dropped a bombshell, suggesting that most airdrop enthusiasts who’ve been eagerly anticipating the ZRO airdrop for the past couple of years might be out of luck.
According to LayerZero CEO Bryan Pellegrino, only about 15% of the wallets that engaged with the protocol will qualify for the upcoming airdrop slated for the first half of this year.
On May 8, WuBlockchain referenced a private Telegram message allegedly from Pellegrino, expressing doubts about the legitimacy of the majority of addresses. In the message, the LayerZero Labs co-founder pointed out that less than three million out of a potential six million addresses had executed only a single transaction.
Moreover, Pellegrino estimated that around 400,000 to 800,000 addresses belonged to genuine users rather than Sybil participants.
LayerZero Tackles Sybil Issue with Filtering Strategy
Sybil users create numerous addresses to engage with protocols during airdrop events and earn rewards by exploiting the system. These wallets are often controlled by a single entity or a group seeking to secure a larger share of the allocation.
Traditionally, Sybils may siphon off portions of the airdropped tokens from other users, but LayerZero has introduced a plan to tackle this problem. Pellegrino and the team introduced a “report-to-earn” program, allowing Sybil users to self-report and retain 15% of the allocation or risk receiving nothing if caught by other users.
The platform also pledged a reward for users who successfully identify and report Sybil abusers. However, the initiative has garnered mixed reactions from community members.
Some believe that the concept will deter Sybil hunters from exploiting airdrops, while others have voiced concerns that the process could negate over two years of farming efforts.
Summary Review: LayerZero Labs’ revelation that a significant majority of users may not qualify for the anticipated ZRO airdrop has stirred considerable discussion within the cryptocurrency community. With only around 15% of wallets interacting with the protocol deemed eligible, many participants face disappointment after years of anticipation. To address the issue of Sybil manipulation, LayerZero has introduced a “report-to-earn” scheme, allowing users to self-report and potentially retain a portion of their allocation. However, the effectiveness and fairness of this approach have sparked debate, with concerns raised about the potential nullification of extensive farming efforts. As the airdrop approaches, the cryptocurrency community awaits further developments and potential adjustments to LayerZero’s strategies, highlighting the ongoing challenges of ensuring fairness and inclusivity in decentralized ecosystems.
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