LayerZero Counters Sybil Activity with Self-Reporting Plan
LayerZero Labs introduces a self-reporting system to combat sybil activity. Sybil users who come forward within 14 days can receive 15% of their token allocation.
LayerZero Labs will penalize those who don't self-report by May 17. LayerZero Labs introduced a plan to combat sybil activity, also known as “airdrop farming,” by offering a self-reporting system. Sybil users who come forward within 14 days can receive 15% of their planned token allocation.
In a May 3 post on X, LayerZero stressed the importance of distributing tokens to genuine network participants instead of those engaging in sybil farming. Sybil farming involves creating fake accounts to unfairly gain tokens or rewards. The developers want their token distribution to support those who contribute positively to the network's growth, not those who exploit the system.
We believe it is in the protocol's best interest to distribute tokens to durable users — not sybil farmers.
If you are a sybil, you have two options:
– Self-report sybil addresses for 15% of your intended allocation. No questions asked. The deadline to do so is May 17th.
– Do… pic.twitter.com/Kme9ZKckC7 — LayerZero Labs (@LayerZero_Labs) May 3, 2024
To lessen the negative effects of sybil activity, LayerZero Labs offers incentives to users involved in this activity to self-report. These users can report within the given time frame and receive 15% of their initial token allocation with no further questions or penalties.
“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.” LayerZero said.
The self-reporting process involves linking a wallet associated with sybil activity and signing a message to confirm ownership. LayerZero Labs will take action against those who don't self-report by May 17. The first step includes publicly identifying non-reporting sybil users, while the second step allows community members to report suspected sybil activity.
The plan follows an initial snapshot taken on May 1 for a potential airdrop distribution to community members. This snapshot serves as the eligibility cutoff for the upcoming token airdrop, as the team confirmed in a graphic shared on X. Airdrops are common in decentralized finance (DeFi) protocols as a way to gain traction by rewarding early users with newly issued cryptocurrencies.
LayerZero Labs didn't provide more details about the airdrop, but earlier indications suggested they planned a token launch in early 2024, according to a Dec. 7, 2023, X post. LayerZero’s ZRO was the first Hyperp (Hyperliquid-only perpetual contract) to launch on the HyperLiquid perpetual futures decentralized exchange in September 2023.
