LayerZero Sybil Hunters Can Only Receive 10% of Invalid Address Airdrops
Key Points:
- LayerZero Labs introduces a bounty system to curb sybil activity in airdrop distribution, LayerZero sybil hunters receive 10% of the airdrop rewards originally due to the sybil addresses they hunt.
- Some praise moves, while others worry about unclear rules and potential misidentification of users.
LayerZero Labs, the company behind the blockchain interoperability protocol LayerZero, is taking an aggressive stance to curb what’s called sybil activity, whereby individuals try to control multiple wallets to unfairly reap airdrop rewards.
LayerZero Sybil Hunters Receive 10% of the Airdrop of the Address They Hunt
They have introduced a system where LayerZero sybil hunters can receive 10% of the airdrop rewards originally allocated to sybil addresses they identify, with the remaining 90% redistributed to qualified addresses. Bryan Pellegrino, co-founder and CEO at LayerZero, emphasized that he wants to give away rewards fairly, adding that if a sybil address is due 0 tokens, the LayerZero sybil hunter will get 0.
But netizens have been divided about the initiative. Some have expressed disquiet over the failure to spell out eligibility criteria, calling upon the project to release guidelines for them to avoid “wasting” effort in reporting “worthless” sybil accounts. One user expressed the need for strict filtering against mistakenly flagging people as sybil accounts.
LayerZero Flooded with Bounty Reports
Following the latest stage of LayerZero‘s airdrop, in which users were supposed to hunt for unreported sybil accounts in exchange for a bounty, the firm received an overwhelming response. Pellegrino revealed they had received more than 3,000 bounty reports and 30,000 appeals within hours of the airdrop. Some users even took to reporting the accounts of their accusers on GitHub in a bid to get their reports removed from the platform.
“I hope the team will follow this standard when accepting the sybil reports, be strict with filtering so you don’t filter out real users. Do you think a simple transaction between wallets will make it a sybil cluster, even if the wallets have different onchain footprint?,” a user expressed.
LayerZero Labs is trying to set a standard for fairness and transparency in terms of airdrop rewards, despite sybil activity and the complexity of verification of users.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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LayerZero Sybil Hunters Can Only Receive 10% of Invalid Address Airdrops
Key Points:
- LayerZero Labs introduces a bounty system to curb sybil activity in airdrop distribution, LayerZero sybil hunters receive 10% of the airdrop rewards originally due to the sybil addresses they hunt.
- Some praise moves, while others worry about unclear rules and potential misidentification of users.
LayerZero Labs, the company behind the blockchain interoperability protocol LayerZero, is taking an aggressive stance to curb what’s called sybil activity, whereby individuals try to control multiple wallets to unfairly reap airdrop rewards.
LayerZero Sybil Hunters Receive 10% of the Airdrop of the Address They Hunt
They have introduced a system where LayerZero sybil hunters can receive 10% of the airdrop rewards originally allocated to sybil addresses they identify, with the remaining 90% redistributed to qualified addresses. Bryan Pellegrino, co-founder and CEO at LayerZero, emphasized that he wants to give away rewards fairly, adding that if a sybil address is due 0 tokens, the LayerZero sybil hunter will get 0.
But netizens have been divided about the initiative. Some have expressed disquiet over the failure to spell out eligibility criteria, calling upon the project to release guidelines for them to avoid “wasting” effort in reporting “worthless” sybil accounts. One user expressed the need for strict filtering against mistakenly flagging people as sybil accounts.
LayerZero Flooded with Bounty Reports
Following the latest stage of LayerZero‘s airdrop, in which users were supposed to hunt for unreported sybil accounts in exchange for a bounty, the firm received an overwhelming response. Pellegrino revealed they had received more than 3,000 bounty reports and 30,000 appeals within hours of the airdrop. Some users even took to reporting the accounts of their accusers on GitHub in a bid to get their reports removed from the platform.
“I hope the team will follow this standard when accepting the sybil reports, be strict with filtering so you don’t filter out real users. Do you think a simple transaction between wallets will make it a sybil cluster, even if the wallets have different onchain footprint?,” a user expressed.
LayerZero Labs is trying to set a standard for fairness and transparency in terms of airdrop rewards, despite sybil activity and the complexity of verification of users.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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