LayerZero Token Launch and Anti-Sybil Measures Set for 2024

Last updated: May 4, 2024 4:14 PM

Published May 4, 2024 3:37 AM

Last updated: May 4, 2024 4:14 PM

Published May 4, 2024 3:37 AM

LayerZero has implemented a clear plan to combat Sybil attacks. Users can self-report by May 17th to receive 15% of their intended allocation, or risk exclusion if detected during internal reviews or by community reports.

The goal of the protocol is to provide equitable distribution among nearly 6 million unique users where those who are committed to long-term network growth have their priority.

We believe it is in the protocol's best interest to distribute tokens to durable users — not sybil farmers.

If you are a sybil, you have two options:

– Self-report sybil addresses for 15% of your intended allocation. No questions asked. The deadline to do so is May 17th.

– Do… pic.twitter.com/Kme9ZKckC7
— LayerZero Labs (@LayerZero_Labs) May 3, 2024

LayerZero will move to a two-phase approach which will be called upon to seek out and eradicate after-burning sybil activities. This is right after the deadline for self-reporting. It announces a rewards program for community members who identify real Sybil users.

LayerZero Labs has announced the launch of its native token, set for the first half of 2024. This development follows significant anticipation aimed at ensuring fair distribution practices.

Apart from that LayerZero Labs are joined with Google Cloud to offer a Platform Orchestration as a service to move workloads across the cloud with SiDC Alliance working on the integration of this public cloud as the default oracle for the protocol’s cross-chain messaging functions, security is set to be enhanced.