LayerZero requires sybil airdrop farmers to self-report their addresses before May 17
LayerZero, a protocol that allows connections between incompatible blockchains, made it possible for *sybil airdrop farmers to self-report their addresses before May 17.
After reporting, these farmers will receive 15% of the amount they should have received initially, while if they do not report and are discovered, they will go home empty-handed.
Sybil airdrop farmer is a term commonly used to refer to users or bots that automatically create multiple fake accounts to participate in airdrop programs. They do this to get more free tokens or incentives from projects. However, this action has always been criticized for reducing the actual value of the airdrop to the community by creating unfairness and receiving more airdrop tokens than they should be entitled to.
A blog post from LayerZero details how the project plans to address the issue and implement the Sybil filtering methods used to detect airdrop farming activity.
“We are offering all sybil users the opportunity to self-report within the next 14 days in exchange for 15% of the expected allocation.”
LayerZero itself has experienced a drop in user activity since announcing its airdrop snapshot, dropping from around 300,000 on April 30, the day before the airdrop announcement, to around 150,000 currently, respectively. with a slippage of more than 50%.
To avoid the situation of users massively dumping tokens and withdrawing en masse after the airdrop, some cryptocurrency projects have begun to apply a multi-round token distribution process.
Protocols such as decentralized exchange Jupiter and Ethereum staking platform EigenLayer have adopted this approach. There is speculation that LayerZero will implement a similar plan, as the team has stated that the May 1st snapshot was the first for the airdrop, suggesting the possibility of more snapshots in the future.
