{"id":20791,"date":"2024-05-18T16:24:45","date_gmt":"2024-05-18T13:24:45","guid":{"rendered":"https:\/\/coinengineer.io\/?p=20791"},"modified":"2024-05-18T16:24:45","modified_gmt":"2024-05-18T13:24:45","slug":"layerzero-ends-sybil-self-reporting-stage","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/layerzero-ends-sybil-self-reporting-stage\/","title":{"rendered":"LayerZero Ends Sybil Self-Reporting Stage"},"content":{"rendered":"

The Sybil<\/strong> self-reporting<\/a> stage of LayerZero Labs<\/a>‘ solution to combat Sybil<\/strong> activity, sometimes referred to as “airdrop farming,” has officially ended, the company has stated on the X platform.<\/p>\n

As per LayerZero, addresses that fit the requirements will get 15% of their expected token allocation, while eligible users will get the remaining 85%. Eight hundred thousand addresses in all were found to be possible Sybil<\/strong> addresses after the review; these addresses will not be allocated any tokens.<\/p>\n

The group was classified more precisely after first identifying over 2 million addresses as possible Sybils<\/strong> and then improving their standards to reduce erroneous identifications.<\/p>\n

The whole list of addresses\u2014including those self-reported and those found during preliminary investigations by LayerZero, Chaos Labs, and Nansen\u2014has been made public.<\/p>\n

The cross-chain communication protocol’s developer debuted a self-reporting mechanism on May 3 and offered Sybil<\/strong> users 15% of their allocated tokens in exchange for honesty within a specified 14-day window.<\/p>\n

LayerZero explained in the X post that while the list attempts to exclude big clusters from bounty-seeking eligibility, the original study sought to detect industrial Sybil<\/strong> clusters. It shouldn’t be taken as final until the full report is released, though, as addresses could be taken off the Sybil<\/strong> list as computations are made.<\/p>\n

The Sybil<\/strong> bounty hunts will run from today, May 18, at 2:00 UTC, until May 31, at 23:59 UTC. For a reward of 10% of Sybil’s<\/strong> projected token distribution, participants must disclose at least 20 addresses using a transparent mechanism. The first eligible reporter with a specified address will receive all bounties.<\/p>\n

The crew is honing their approach, but the original list won’t change while the bounty search is underway. Bounty hunters don’t have to worry about the original list while they work. When the bounty hunt ends, the authoritative, final list will be released.<\/p>\n

Creating many fictitious accounts in order to unjustly obtain tokens or incentives is known as sybil farming. The Sybil study comes after the first snapshot on May 1st concerning a possible airdrop to community members.<\/p>\n

Decentralized financial (DeFi) systems often use airdrops to increase adoption by rewarding early adopters with freshly produced cryptocurrency.<\/p>\n

When LayerZero’s ZRO debuted on the HyperLiquid perpetual futures decentralized market in September 2023, it was the first Hyperp (Hyperliquid-only perp).<\/p>\n","protected":false},"excerpt":{"rendered":"

The Sybil self-reporting stage of LayerZero Labs‘ solution to combat Sybil activity, sometimes referred to as “airdrop farming,” has officially ended, the company has stated on the X platform. As per LayerZero, addresses that fit the requirements will get 15% of their expected token allocation, while eligible users will get the remaining 85%. Eight hundred<\/p>\n","protected":false},"author":6,"featured_media":20792,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[177,6217,6216],"class_list":["post-20791","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-layerzero","tag-layerzero-sybil","tag-sybil"],"yoast_head":"\nLayerZero Ends Sybil Self-Reporting Stage - Coin Engineer<\/title>\n<meta name=\"description\" content=\"LayerZero ends Sybil self-reporting phase, identifying 800,000 possible Sybil addresses. 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