LayerZero Labs’ Self-Reporting Initiative Draws 100,000 Addresses in Sybil Combat Effort

LayerZero Labs’ Self-Reporting Initiative Draws 100,000 Addresses in Sybil Combat Effort

LayerZero Labs‘ co-founder and CEO, Bryan Pellegrino, recently revealed that as the initiative to combat sybil activity on the project’s airdrop reaches its conclusion, up to 100,000 addresses have voluntarily come forward.

Renowned for its role as the primary contributor to the LayerZero interoperability protocol, LayerZero Labs recently introduced a self-reporting mechanism as part of its strategy to address the prevalent issue of sybil attacks. These attacks involve individuals creating multiple accounts to unfairly influence token airdrops.

In a bid to mitigate this issue, the team offered participants the option to self-report their involvement, promising them 15% of their intended token allocation with no questions asked. Alternatively, those who chose not to disclose their multiple accounts would receive no allocation. The response to this initiative has been significant, with 100,000 addresses opting to report their activity.

Pellegrino emphasized the significance of the data collected, stating that it will prove invaluable in identifying other participants employing similar methods and software for such activities.

“My intuition tells me that a confirmed dataset of over 100,000 addresses will be extremely powerful in uncovering others who may be using the same software or employing similar methodologies. I’m eager to see the outcomes,” Pellegrino remarked.

LayerZero facilitates the movement of assets and data across different chains. The project recently conducted its first snapshot on May 1, which was related to a potential airdrop distribution to community members.

The snapshot, marking the final point at which transactions count towards eligibility for the airdrop, revealed that 6 million unique wallet addresses had interacted with LayerZero. However, in a proactive effort to address sybil activity, LayerZero Labs provided an incentive, urging sybil users to self-report within a two-week window.