LayerZero identifies more than 800,000 addresses at the Sybil self-reporting level
LayerZero Labs has officially announced the completion of the Sybil Self-Reporting process to address Sybil activity on the X platform.
According to LayerZero, addresses that meet the criteria will receive 15% of the expected token allocation, while the remaining 85% will be redistributed to eligible users. After the review, a total of 803,093 addresses were identified as potential Sybil addresses, which would not receive a general token allocation.
Initially, the team identified more than 2 million addresses as potential Sybils, but later refined their criteria to reduce false identifications, resulting in more accurate classifications.
The full list of addresses, including those self-reported and identified by LayerZero, Chaos Labs and Nansen's initial tests, has been released to the public.
On May 3, the creator of the cross-chain communication protocol offered Sybil users 15% of their planned tokens for honesty within a limited 14-day period.
At XPost, LayerZero explained that the initial analysis was aimed at identifying industrial Sybil clusters, and that the list was aimed at eliminating large clusters from bounty hunting eligibility. However, it should not be considered definitive until the final report is published as addresses may be removed from the CIBIL list as calculations are refined.
The Sibyl Bounty Hunt starts today, May 18th at 2:00 UTC and will continue until May 31st, 23:59 UTC. Participants must report at least 20 addresses in a transparent manner to receive a 10% reward of the token allocation intended for Sybil. All bonuses will be delivered to the first eligible correspondent to a specific address.
Related: LayerZero Cross-Chain Interoperability Protocol Completes First Airdrop Screenshot
The team is finalizing their strategy, but the starting list will not change during the bounty hunt. Bounty hunters can go about their business without worrying about the initial list. A final, authoritative list will be shared after the bounty hunt ends.
Sybil farming refers to the practice of creating multiple fake accounts to obtain unfair tokens or rewards. Sybil's analysis followed the first screenshot on May 1st related to potential airborne transmission to community members.
Airdrops are widely employed in decentralized finance (DeFi) protocols, rewarding early adopters with newly minted cryptocurrencies.
LayerZero's ZRO was the first hyperliquid (Hyperliquid-only perp) to launch on the HyperLiquid Perpetual Futures decentralized exchange in September 2023.
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