The sybil self-reporting phase of LayerZero Labs’s approach to curb sybil activities, or “airdrop farming,” has officially ended. Addresses that satisfy the requirements will get 15% of their expected token allocation, according to LayerZero, with the remaining 85% being redistributed to users who qualify. 803,093 addresses in total were found to be possible Sybil addresses after the examination; these addresses will not be given the full token allocation. The group first recognized more than two million addresses as possible sybils, but they later improved their standards to reduce false positives and produce a more accurate categorization.
The public now has access to the full list of addresses, which includes those that were self-reported and those that were found during LayerZero, Chaos Labs, and Nansen’s first investigations. The cross-chain communication protocol’s inventor unveiled a self-reporting mechanism on May 3 and offered Sybil users 15% of their allotted tokens in exchange for honesty within a predetermined 14-day window.
LayerZero explained in the X post that the list aims to exclude huge clusters from qualifying for bounty hunting, while the initial study sought to find industrial sybil clusters. Nevertheless, until the final report is released, it shouldn’t be regarded as final because addresses might be taken off the sybil list as calculations are adjusted. Starting today, May 18, at 2:00 PM UTC, and lasting until May 31, at 11:59 PM UTC, is the sybil bounty hunting process. In order to qualify for a 10% token allocation reward from Sybil, participants must report a minimum of 20 addresses using a well-defined technique. The first qualified reporter at a given address will get all bounty payments.Although the team is refining the process, the original list will remain unchanged during the bounty quest. Bounty hunters don’t need to bother about the original list in order to carry on with their work. The definitive list will be made public after the bounty hunt is over. Creating numerous fictitious identities in order to unfairly get tokens or incentives is known as “sybil farming.” The initial picture from May 1 regarding a possible airdrop distribution to community members is followed by the sybil analysis. Airdrops are a common tool used by decentralized finance protocols to gain popularity by rewarding early adopters with newly produced currency. In September 2023, LayerZero’s ZRO became the first Hyperp (a Perp exclusive to Hyperliquid) to be launched on the HyperLiquid perpetual futures decentralized exchange.