LayerZero Labs CEO Halts Airdrop Phase for Design Tweaks

LayerZero's snapshot reveals 6 million unique wallets interacting with a $3 billion-valued protocol after a funding round, despite challenges.

A blockchain messaging protocol developer, LayerZero Labs, faced challenges during its first airdrop aimed at preventing unfair rewards due to Sybil’s activity.

CEO Bryan Pellegrino described the launch as chaotic, with over 3,000 bounty reports and 30,000 appeals within hours. Users even reported accusers’ accounts on GitHub to remove reports.

Bounty process will re-open in the next day or two.

A lot of this can be countered by moving to a better structure than github issues (reports not being removed) and adding a 'bond' (is ~0.02 ETH the right number?) in order to report.

The main things to solve for are — best…
— Bryan Pellegrino (臭企鹅) (@PrimordialAA) May 19, 2024

To address these issues, Pellegrino announced a pause in reporting for a day or two and proposed a .02 eth bond (about $60) to submit reports, aiming to deter automated systems and ensure fairness and efficiency in handling reports.

Despite the challenges, LayerZero’s snapshot revealed six million unique wallets interacting with the protocol, which had a $3 billion valuation after a funding round. Over 100,000 addresses self-reported as Sybils.

The airdrop’s fairness is under scrutiny, but LayerZero remains focused on resolving issues and maintaining a fair environment for its community.

Also Read: LayerZero Labs Bans Employees from Airdrop Participation

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