LayerZero Labs announced the end of its Sybil self-reporting phase, identifying 803,093 addresses as potential Sybil addresses. Affected users received only 15% of their anticipated tokens.
The conclusion of the Sybil self-reporting phase for LayerZero Labs’ solution to combat Sybil activity, also known as “airdrop farming,” has been formally announced on the X platform.
LayerZero stipulates that addresses that satisfy the specified criteria will be allocated 15% of the expected tokens, with the remaining 85% being redistributed to users who fulfill the eligibility requirements.
Subsequent to the review, 803,093 addresses have been identified as potential Sybil addresses; however, they will not be granted the entire token allocation.
At first, the group identified more than two million addresses that appeared to be Sybils. However, as time passed, they improved their criteria to reduce false positives, which led to a more accurate classification.
The entire address list has been made public, encompassing both self-reported and initially identified addresses by LayerZero, Chaos Labs, and Nansen.
The cross-chain communication protocol’s developer introduced a self-reporting mechanism on May 3. In exchange for being truthful within a specified 14-day timeframe, Sybil users could receive 15% of their intended token allocation.
LayerZero clarified in the X post that the initial analysis was conducted to identify industrial sybil clusters and that the purpose of the list is to disqualify large clusters from bounty hunting. However, until the final report is published, it should not be regarded as definitive, as addresses might be eliminated from the Sybil list as calculations are improved.
The Sybil bounty search process will continue from 2:00 UTC today, May 18th, to 23:59 UTC on May 31st. Participants must submit a minimum of 20 addresses accompanied by a transparent methodology to qualify for a 10% stipendiary credit from Sybil. The first qualified reporter from a given address will receive all bounties.
While refining their approach, the group will not alter the initial list throughout the bounty search. Bounty hunters are not deterred from proceeding with their tasks in regard to the initial manifest. The authoritative final list will be disclosed once the bounty search concludes.
Sybil farming involves the illicit acquisition of tokens or rewards through the creation of numerous illegitimate accounts. The Sybil analysis adheres to the initial snapshot published on May 1 regarding a possible airdrop distribution to community members.
Decentralized finance (DeFi) protocols widely use airdrops to increase traction by distributing newly issued cryptocurrencies to early adopters.
In September 2023, LayerZero’s ZRO debuted as the inaugural Hyperp (Hyperliquid-only perp) on the HyperLiquid decentralized futures exchange for perpetual futures.
