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Market Cap:
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Fear & Greed:
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Bitcoin:
$ 66.285
BTC Dominance:
% 54.5
Market Cap:
$2.38 T

LayerZero Labs Combats Airdrop Abusers with Token Incentive

Layerzero Labs

LayerZero Labs provides a solution for Sybil attacks, also known as “airdrop farming.” The Sybil users were presented with 15% of their token allocation to remain honest within two weeks of self-reporting.

LayerZero posted on X on May 3 that its system would be more likely to give tokens to real users of the network than Sybil farmers.

Sybil farming involves making many fake accounts to snatch tokens or incentives unfairly. The developers do not want to reward Sybil farmers; rather, they are going to distribute tokens to the people that help the network grow and live.

LayerZero Labs also supports the idea of Sybil users emerging to be reduced in its negative effects. Self-reporting by the user within a specific period earns them 15% of their tokens without questioning or fines.

Non-reporting on May 17 will lead to consequences from LayerZero Labs. The first phase makes Sybil users who do not volunteer publicly, and the second phase provides an opportunity for other members of the community to report suspected behavior.

DeFi protocols use airdrops to boost adoption rates by distributing new currency as rewards to early adopters.

Layerzero Labs did not disclose the airdrop specifics, but an X post on the date of December 7th, 2023, suggested that the company was getting ready for a coin launch in early 2024. In September 2023, ZRO from LayerZero was the very first Hyperp (hyperliquid-only perp) to be launched on the HyperLiquid perpetual futures decentralized exchange.

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