Repercussions will be applied by LayerZero Labs to individuals who fail to self-report by May 17. LayerZero Labs has presented a way to deal with sybil activity, which goes by the name of “airdrop farming.” The inventor of the cross-chain communication protocol unveiled a self-reporting system that rewards honest behaviour with 15% of the tokens allotted within a specified 14-day window for Sybil users.
In a post published on X on May 3, LayerZero expressed the company’s belief that it is crucial for its protocol to award tokens to sincere and dedicated network users instead of those who participate in sybil farming.
The act of making numerous fictitious accounts in order to unfairly get tokens or incentives is known as “sybil farming.” Instead of favouring those who take advantage of the network by dishonest methods like sybil farming, the developers aim to make sure that the recipients of their tokens are those who make meaningful contributions to its expansion and sustainability.
In an additional effort to lessen the detrimental impacts of sybil activity, LayerZero Labs is offering a reward to people who willingly come forward and confess to engaging in such behaviour. The motivation is that, without further inquiries or penalties, these individuals can self-report within a given timeframe and get 15% of the tokens that were initially assigned.
“Without any questions asked, we are offering all Sybil users the chance to self-report within the next 14 days in exchange for 15% of their intended allocation.”
Connecting a wallet linked to Sybil activity and signing a message to verify ownership are prerequisites for the self-reporting process.
Repercussions will be applied by LayerZero Labs to individuals who fail to self-report by May 17. In the first step, people who use Sybil but don’t come out freely are publicly identified, and in the second phase, community members can report suspicious conduct related to Sybil.
The idea follows the first image of a possible airdrop distribution to community members that was captured on May 1. The team verified that this image is the cutoff point to be eligible for the next token airdrop, sharing a graphic on X. Decentralised finance (DeFi) systems frequently use airdrops to gain popularity by rewarding early users with newly minted cryptocurrency.
LayerZero Labs did not offer any other information regarding the airdrop, although prior signals indicated that they were preparing for a coin launch in early 2024 (as per an X post from December 7, 2023). In September 2023, LayerZero’s ZRO became the first Hyperp (a Perp exclusive to Hyperliquid) to be launched on the HyperLiquid perpetual futures decentralised exchange.