LayerZero tackles sybil activity with self-reporting mechanism
LayerZero Labs will enforce consequences for those who don’t self-report by May 17, 2024.
LayerZero Labs has unveiled a solution to address sybil activity, often known as ‘airdrop farming.’ The creator of the cross-chain communication protocol introduced a self-reporting mechanism, offering sybil users 15% of their planned token allocation for honesty within a defined 14-day period.
The developer stated in a May 3 post on X that it believes it’s important for their protocol to distribute tokens to genuine, committed network users rather than individuals who engage in sybil farming.
Sybil farming refers to the practice of creating multiple fake accounts to unfairly acquire tokens or rewards. The developers want to ensure that their token distribution benefits those who contribute positively to the network’s growth and sustainability rather than those who exploit it through deceptive tactics like sybil farming.
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Author: Amaka Nwaokocha
