LayerZero Labs, the company that developed the blockchain interoperability protocol LayerZero, aims to establish standards of fairness and smoothness with its first airdrop by limiting so-called Sybil activities where users control multiple wallets to unfairly obtain cash. We are aiming for it. Airdrop rewards.
However, while the final fairness of the airdrop is still unknown, the chaotic launch was anything but smooth. Just ask the protocol’s CEO.
“…awakening to the battlefield :D. We always knew this was going to be PvP (player vs. player), but this is something else.” LayerZero Labs CEO Bryan Pellegrino posted on X.
According to Pellegrino, just hours after the latest phase of the LayerZero airdrop, in which users tracked down Sybils that did not self-report in return for a bounty, LayerZero received more than 3,000 bounty reports and 30,000 appeals. Additionally, because the report was hosted on GitHub, some users reported the whistleblower’s account to get the report removed from the site.
Pellegrino announced that he was pausing the reporting process for “the next day or two” to address these issues. One possible solution that Pellegrino floated is to implement a .02 eth bond (about $60 at current prices) to file reports in an attempt to cut down on automated reporting systems.
“The key issues that need to be addressed are that the best bounty hunters can still get reports (bonds aren’t prohibitively expensive) and that there is ideally observable fairness in what the first qualified report is in a conflict,” Pellegrino said. I wrote it. “At this point, we still have a lot of reports and appeals to process.” Pellegrino did not immediately respond to The Block’s request for comment.
LayerZero’s final snapshot showed that 6 million individual wallets interacted with the protocol, which reached a valuation of $3 billion after the last funding round in April 2023. Up to 100,000 addresses self-reported to Sybils prior to the bounty hunter phase of the airdrop process.
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