{"id":81080,"date":"2024-06-12T09:35:59","date_gmt":"2024-06-12T13:35:59","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=81080"},"modified":"2024-06-12T09:36:03","modified_gmt":"2024-06-12T13:36:03","slug":"zksync-token-airdrop-faces-backlash-from-industry-observers","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/zksync-token-airdrop-faces-backlash-from-industry-observers\/","title":{"rendered":"ZkSync Token Airdrop Faces Backlash from Industry Observers"},"content":{"rendered":"\n

Crypto industry observers<\/a> have expressed dissatisfaction with zkSync's airdrop, alleging that it failed to implement anti-Sybil measures and had an unjust distribution.<\/p>\n\n\n\n

\"ZkSync
ZkSync Token Airdrop Faces Backlash from Industry Observers<\/figcaption><\/figure>\n\n\n\n

“From what I can observe, there is virtually no Sybil filtering,” Gupta concluded. “Anyone aware of the criteria could have easily exploited it.”<\/p>\n\n\n\n

That day, zkSync announced that 695,232 wallets could claim its ZK token airdrop. The company also provided a list of seven eligibility criteria to safeguard against Sybil attacks, which involve using multiple wallets to manipulate crypto airdrops<\/a>.<\/p>\n\n\n\n

“From a Sybil perspective, that was not a well-planned airdrop,” stated Adam Cochran, a partner at Cinneamhain Ventures, in discussing the eligibility criteria for zkSync. “Those criteria are simple to avoid as a genuine user and simple to meet as a farmer, and there was no anti-Sybil program.”<\/p>\n\n\n\n

\n

I love the zkSync guys but damn that was not a well planned airdrop from a sybil perspective.

Those criteria are easy to not hit as a real user, and easy to hit as a farmer, and had no anti-sybil program.

Real users could easily use 1-2 dapps or only a handful of tokens on your\u2026 pic.twitter.com\/PiqprIbKJ3\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/p>— Adam Cochran (adamscochran.eth) (@adamscochran) June 11, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

Nansen, a crypto analytics firm, responded to the backlash by stating that it did not conduct anti-Sybil checks or advise on allocation for the ZK token decline. Instead, it “provided data on specific wallet segments,” including “whales and known scammers.”<\/p>\n\n\n\n

Nevertheless, crypto researcher “Ignas” emphasized that zkSync intentionally did not implement rigorous anti-Sybil measures. He cited the press release stating, “Sybil detection frequently excludes genuine users with arbitrary filters.”<\/p>\n\n\n\n

Sybil Horror 6, a Sybil-tracking X account, recently published a preliminary estimate based on data from LayerZero Labs<\/use><\/svg><\/span><\/a>. The forecast suggests that 135 million ZK tokens may be on their way to Sybil wallets, as enumerated by LayerZero.<\/p>\n\n\n\n

According to the price of ZK on pre-market perpetual exchanges Aevo and PancakeSwap, the tokens may be worth as much as $52.3 million.<\/p>\n\n\n\n

In the past 24 hours, the token has experienced a 43% decline in both markets, with the sudden decrease occurring in conjunction with the release of zkSync's airdrop details.<\/p>\n\n\n\n

The development firm of zkSync, Matter Labs, did not immediately respond to a request for comment.<\/p>\n","protected":false},"excerpt":{"rendered":"

Crypto industry observers have expressed dissatisfaction with zkSync’s airdrop, alleging that it failed to implement anti-Sybil measures and had an unjust distribution. “From what I can observe, there is virtually no Sybil filtering,” Gupta concluded. “Anyone aware of the criteria could have easily exploited it.” That day, zkSync announced that 695,232 wallets could claim its […]<\/p>\n","protected":false},"author":12,"featured_media":81090,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[8564,12489,19965],"class_list":["post-81080","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-layerzero-2","tag-zksync","tag-zksync-airdrop"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/06\/image-64.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/81080","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=81080"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/81080\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/81090"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=81080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=81080"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=81080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}