LayerZero announces airdrop eligibility checker for users: Key details

June 19, 2024 02:30 AM PDT | By Invezz

LayerZero announces airdrop eligibility checker for users: Key details — Image source: Invezz

LayerZero revealed plans for a ZRO airdrop in 2023

LayerZero announced its ZRO token launch in December and revealed the snapshot for the platform’s first airdrop in May. This followed the announcement that the ZRO airdrop would happen “in the first half of 2024.”

Noting that a native token will definitely launch, LayerZero Labs developers said in a post on X:

“We’ll state now in no uncertain terms that there will be a LayerZero token. Its distribution is something we’re committed to getting right and expect it to happen within the first half of 2024.”

LayerZero has always been built with the ability to have a native token within the protocol, as can be seen in the immutable code launched on day 1. We’ve heard the community discussion over the last few months and the lack of clear communication around this. We’ll state now in… — LayerZero Labs (@LayerZero_Labs) December 7, 2023

LayerZero airdrop details

According to Pellegrino, about 1.28 million wallets qualify for the ZRO token airdrop.

The LayerZero Labs CEO noted on June 14 that 23.8% of the project’s total supply of 1 billion tokens will go to the community and LayerZero builders.

In this case, the airdrop will offer 8.5% of the tokens during the initial distribution phase. Moreover, 5% is for core, 3% for RFP and 0.5% for the community pool.

“The majority of the remainder will be given over the next 36 months with additional retroactive distribution every 12 months, along with some forward looking RFPs for builders,” the LayerZero Labs CEO noted.

Ok let's talk some numbers.

23.8% of the supply is going directly to the community and builders. This does not include foundation, growth, etc. Directly to community.

8.5% of this is being distributed day 1 (5% core, 3% RFP, 0.5% community pool)

The majority of the remainder… — Bryan Pellegrino (臭企鹅) (@PrimordialAA) June 14, 2024

Community anticipation for the ZRO airdrop has increased in recent weeks, particularly after Starknet and now ZKsync.

Battle against Sybil attacks

The LayerZero Foundation’s move comes a few days after the ZKsync’s airdrop. While a major one, the event has attracted widespread criticism for Sybil attacks and alleged ineligibility cases.

It should be noted that ZKsync announced a 3.6 billion ZK token airdrop, revealing about 695,000 wallet addresses qualified.

To combat Sybil attacks, the LayerZero Foundation has taken several measures. They include a bounty program and self-reporting (with such wallets set to receive 15% of potential allocation).

As Invezz reported, LayerZero flagged over 800k in sybil addresses in May.

Pellegrino has said that its possible measures taken may not eliminate all Sybil attacks. However, although such wallets will be on the final airdrop list, the team will “recycle back” their allocations to LayerZero Core qualifiers on the claim day.

The post LayerZero announces airdrop eligibility checker for users: Key details appeared first on Invezz

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