BTC

$64000.993

-0.46%

ETH

$3469.586

-0.98%

BNB

$582.951

-0.57%

XRP

$0.481

-1.15%

News

LayerZero Token Airdrop Rules Announced, Early Transactions Will Be Eewarded 3x

June 16, 2024 - Around 2 mins mins to read

Key Points:

  • LayerZero token airdrop rules were announced by rewarding early participants and distributing 23.8% of tokens directly to the community and builders.
  • Strict anti-Sybil measures will exclude or partially reward suspected attackers, with possible public exposure of their wallets.
In a recent announcement, LayerZero Labs CEO Bryan Pellegrino detailed the final rules for the anticipated airdrop.
LayerZero Token Airdrop Rules Announced, Early Transactions Will Be Eewarded 3x

LayerZero Token Airdrop Rules Revealed

The LayerZero token airdrop will reward early participants significantly, offering triple rewards for initial transactions.

Additionally, those making at least three transactions in the later stages will receive an extra 50 tokens. Overall, 594,641 participants are set to benefit from the LayerZero token airdrop, with most receiving between 50 and 250 tokens.

The distribution strategy for LayerZero (ZRO) tokens has been clarified: 23.8% of the total supply will be allocated directly to the community and builders, bypassing platform and development allocations. This direct approach aims to foster community growth and engagement.

In a robust move against Sybil attacks, LayerZero has implemented stringent measures. Suspected Sybil attackers are given a choice: confess and receive 15% of their expected airdrop or risk total exclusion and potential public exposure of their wallet addresses.

Funding Success and Airdrop Controversies

LayerZero is recognized for its innovative protocol, which enables the connection of various blockchains without third-party intermediaries. Currently, it is utilized by Stargate and Radiant Capital, both witnessing a slight increase in their native token counts following the approved snapshot.

Last April, LayerZero secured $120 million in a Series B funding round, which included significant contributions from Andreessen Horowitz and Sequoia Capital. This funding round valued the company at $3 billion, bolstering its market position.

Looking ahead, on June 17, zkSync’s controversial airdrop will take place, prompting ZK Nation to issue clarifications. Both zkSync and EigenLayer have faced community backlash over airdrop criteria and distribution fairness. The persistent issue of Sybil attacks has further tainted the perception of these airdrops within the community.

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.

Airdrop

Bryan Pellegrino

LayerZero

LayerZero Labs

LayerZero Token Airdrop

Sybil

Avatar of Harold

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

LayerZero Token Airdrop Rules Announced, Early Transactions Will Be Eewarded 3x

Key Points:

  • LayerZero token airdrop rules were announced by rewarding early participants and distributing 23.8% of tokens directly to the community and builders.
  • Strict anti-Sybil measures will exclude or partially reward suspected attackers, with possible public exposure of their wallets.
In a recent announcement, LayerZero Labs CEO Bryan Pellegrino detailed the final rules for the anticipated airdrop.
LayerZero Token Airdrop Rules Announced, Early Transactions Will Be Eewarded 3x

LayerZero Token Airdrop Rules Revealed

The LayerZero token airdrop will reward early participants significantly, offering triple rewards for initial transactions.

Additionally, those making at least three transactions in the later stages will receive an extra 50 tokens. Overall, 594,641 participants are set to benefit from the LayerZero token airdrop, with most receiving between 50 and 250 tokens.

The distribution strategy for LayerZero (ZRO) tokens has been clarified: 23.8% of the total supply will be allocated directly to the community and builders, bypassing platform and development allocations. This direct approach aims to foster community growth and engagement.

In a robust move against Sybil attacks, LayerZero has implemented stringent measures. Suspected Sybil attackers are given a choice: confess and receive 15% of their expected airdrop or risk total exclusion and potential public exposure of their wallet addresses.

Funding Success and Airdrop Controversies

LayerZero is recognized for its innovative protocol, which enables the connection of various blockchains without third-party intermediaries. Currently, it is utilized by Stargate and Radiant Capital, both witnessing a slight increase in their native token counts following the approved snapshot.

Last April, LayerZero secured $120 million in a Series B funding round, which included significant contributions from Andreessen Horowitz and Sequoia Capital. This funding round valued the company at $3 billion, bolstering its market position.

Looking ahead, on June 17, zkSync’s controversial airdrop will take place, prompting ZK Nation to issue clarifications. Both zkSync and EigenLayer have faced community backlash over airdrop criteria and distribution fairness. The persistent issue of Sybil attacks has further tainted the perception of these airdrops within the community.

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.
Visited 304 times, 1 visit(s) today