CDS Crypto News LayerZero Labs Employees Restricted from Airdrop Participation, CEO Confirms Policy Enforcement
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LayerZero Labs Employees Restricted from Airdrop Participation, CEO Confirms Policy Enforcement

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LayerZero Labs Employees Restricted from Airdrop Participation, CEO Confirms Policy Enforcement

LayerZero Labs Employees Barred from Airdrop Participation, CEO Confirms

Late last night, Bryan Pellegrino, co-founder of LayerZero, confirmed that employees of LayerZero Labs would not be eligible to participate in the project’s upcoming airdrop. He stated firmly that they are strictly prohibited from claiming any tokens.

In a message posted on X, Pellegrino, who also serves as CEO of LayerZero Labs, declared, “We will make a public announcement about this; every employee of LayerZero Labs is completely restricted from claiming tokens and is ineligible.”

He emphasized that this policy has long been in place, saying, “It will be considered grounds for termination, and this rule has been communicated internally for some time.”

LayerZero is a protocol focused on interoperability, aiming to empower developers to create cross-chain applications while maintaining modular security standards. LayerZero Labs is the primary contributor to this protocol.

When pressed for clarification on whether employees could potentially receive LayerZero tokens through ownership of non-fungible tokens (NFTs) from certain collections like Pudgy Penguins, Pellegrino affirmed, “They are not permitted to claim such tokens.”

Earlier this month, the project offered users who had engaged in Sybil farming within the protocol the option to self-report their activities in exchange for a reduced allocation of 15%, or face exclusion from the airdrop entirely.

LayerZero conducted the initial snapshot for the potential airdrop on May 1st.

FAQs

LayerZero Labs Employees Restricted from Airdrop Participation, CEO Confirms Policy Enforcement
LayerZero Labs Employees Restricted from Airdrop Participation, CEO Confirms Policy Enforcement 1

What is LayerZero Labs?

LayerZero Labs is a company developing a protocol for omnichain interoperability. Their goal is to enable seamless communication and transfer of assets and data between different blockchains.

What is omnichain interoperability?

Blockchains are currently siloed, meaning they don’t communicate with each other easily. Omnichain interoperability aims to break down these barriers, allowing applications to leverage functionalities and assets across different blockchains.

How does LayerZero’s protocol work?

LayerZero utilizes a hybrid approach combining on-chain and off-chain components. On-chain elements ensure security and verification, while off-chain components facilitate faster communication.

What are Stargate and Omni?

Stargate is a decentralized liquidity transfer protocol built on LayerZero’s technology. It allows users to swap tokens across different blockchains with minimal fees. Omni is a proposed generalized messaging framework for secure cross-chain communication.

LayerZero Labs Employees Restricted from Airdrop Participation, CEO Confirms Policy Enforcement

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