LayerZero Labs has successfully completed the LayerZero sybil self-report phase, representing a significant milestone in their ongoing endeavors to combat fraudulent activity within their network.
Phase of LayerZero Sybil Self-Report Completed
After scrutinizing more than two million addresses at first, the business has effectively detected 803,093 possible sybil addresses. This decrease of dubious addresses prepares the ground for their initiative's following stage.
LayerZero Labs is going to initiate a community bounty search in the upcoming weeks with the goal of uncovering more sybil addresses. In order to be eligible to win 10% of the anticipated token distribution from each detected sybil, hunters must submit at least 20 suspicious addresses. Beginning on May 18 at 2:00 UTC and ending on May 31 at 23:59 UTC is the schedule for the sybil hunting bounty event.
Attention: Users Are Invited to Report Sybil Behavior to Earn Tokens
About 100,000 wallet addresses willingly identified as sybils, putting them in a position to earn 15% of the first airdrop token allotment, as CEO Bryan Pellegrino previously revealed. While cautioning that failure to comply will result in no token allocation, LayerZero Labs restates its commitment to rewarding users who self-report using LayerZero sybil conduct.
As part of its proactive strategy, LayerZero Labs opened up a public disclosure portal in early May, enabling people to acknowledge that they have participated in sybil activity. This program seeks to deter fraud while promoting responsibility and openness within the community.
Pellegrino emphasized the importance of compiling sybil wallet data, stating that it will be invaluable for identifying and preventing future fraudulent activities.
May 2024, Cryptoniteuae