LayerZero CEO Reveals Potential Disqualification of 85% of Addresses for Airdrop

LayerZero CEO Reveals Potential Disqualification of 85% of Addresses for Airdrop

Bryan Pellegrino, CEO of LayerZero Labs, has hinted at a development that could render the majority of airdrop hunters ineligible for the anticipated ZRO airdrop, after investing two years in farming activities.

Reports suggest that Pellegrino conveyed doubts regarding the eligibility of most addresses, indicating that less than 15% of wallets interacting with the protocol would qualify for the upcoming airdrop slated for the first half of this year.

A private Telegram message cited by WuBlockchain on May 8 purportedly quoted Pellegrino expressing skepticism about the validity of a significant portion of addresses. According to the LayerZero Labs co-founder, fewer than three million out of a potential six million addresses had engaged in only one transaction, casting doubt on their authenticity.

Pellegrino estimated that approximately 400,000 to 800,000 addresses represented genuine users rather than Sybil participants, who create multiple addresses to maximize rewards during airdrops by manipulating the system.

To combat the Sybil problem, LayerZero introduced a filtering plan. Under this scheme, Sybil users are given the option to self-report and retain 15% of their allocation or face the risk of receiving no tokens if detected by other users. Additionally, the platform incentivizes users who identify and report Sybil farmers.

While some members of the community view this initiative positively, believing it will discourage Sybil hunters from diluting airdrops, others have expressed concerns that the process could nullify the efforts of those who have been farming for over 24 months. The reaction within the community remains mixed regarding the effectiveness and fairness of LayerZero’s approach.

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