Cryptocurrencies

LayerZero Labs officially announced on the X platform the self-reporting phase of Sybil

LayerZero Labs officially announced on the X platform that the Sybil self-reporting phase of its Sybil activity processing solution, also known as “airdrop farming,” has ended.

According to LayerZero, addresses that meet the criteria will receive 15% of their expected token allocation, while the remaining 85% will be redistributed to eligible users. After review, a total of 803,093 addresses were identified as potential Sybil addresses, which will not receive the total token allocation.

Initially, the team identified more than two million addresses as potential Sybils, but later improved their criteria to reduce false identifications, resulting in a more accurate classification.

The full list of addresses, including those self-reported and those identified through initial screenings by LayerZero, Chaos Labs and Nansen, has been made public.

On May 3, the creator of the cross-chain communication protocol introduced a self-reporting mechanism, offering Sybil users 15% of their planned token allocation for honesty over a set period of 14 days.

In the However, it should not be considered final until the final report is published, as titles may be removed from the Sybil list as the accounts are revised.

The Sybil bounty hunt begins today, May 18, at 2:00 UTC and will continue until May 31, 23:59 UTC. Participants must report at least 20 addresses with a clear methodology to be eligible for a reward of 10% of Sybil’s intended token allocation. All grants will go to the first eligible fundraiser for a given title.

Related: Cross-chain interoperability protocol LayerZero completes first aerial snapshot

The team is improving its style, but the initial roster will not change during the trophy hunt. Bounty hunters can continue their work without worrying about the initial list. The final and verified list will be shared once the bounty hunt is over.

Sybil farming refers to the practice of creating multiple fake accounts to unfairly obtain codes or rewards. Sybil’s analysis follows the first snapshot on May 1 related to a potential airdrop distribution to community members.

Airdrops are widely used by decentralized finance (DeFi) protocols to create more traction by rewarding early adopters with newly issued cryptocurrencies.

LayerZero’s ZRO was the first Hyperp (perp for Hyperliquid only) to be launched on the decentralized exchange for HyperLiquid perpetual futures in September 2023.

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