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LayerZero's native token, ZRO, has significantly outperformed the tokens of other projects such as ZKsync and Starknet, which were also introduced through airdrops around the same period. Bryan Pellegrino, CEO of LayerZero Labs, attributed the strong performance of ZRO to a combination of rigorous Sybil filtering and a strategic focus on rewarding the most dedicated and enduring users.
Pellegrino explained to Cointelegraph during Korea Blockchain Week that LayerZero implemented a unique approach to its airdrop, including an extensive Sybil hunt aimed at preventing bots and excessive farming. This approach was designed to ensure that ZRO tokens reached the network's most committed users rather than speculative participants.
The price stability of {ZRO} contrasts sharply with that of Starknet and ZKsync, which also conducted airdrops in 2024. ZRO debuted on June 20 at $4.40 and, despite some initial backlash regarding a mandatory donation required for claiming the airdrop, the token's value has declined by 23% since launch. The initial price of {Starknet} {STRK} token, which launched on February 20, was $5. However, the token faced criticism for allegedly favoring insiders and lacked adequate Sybil protection, resulting in a 91% decrease in value and a drop in active addresses from nearly 380,000 to approximately 8,300.
Similarly, ZKsync's ZK token, which launched on June 17, started at $0.31 but has since fallen by over 67% to $0.10. Critics have accused ZKsync of insufficient Sybil filtering, allowing the airdrop to be exploited by opportunistic participants rather than genuine network users.
Overall, the contrasting performances highlight the impact of airdrop strategies and Sybil protection measures on the success and sustainability of token distributions.
