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LayerZero Co-Founder Bryan Pellegrino Announces Token Distribution PlanAccording to Odaily, Bryan Pellegrino, co-founder of LayerZero, has announced the approximate distribution plan for the LayerZero token, ZRO. He stated that 23.8% of the ZRO token supply will be directly allocated to the community and builders, excluding the foundation and growth. On the first day, 8.5% will be distributed, with 5% for the core, 3% for RFP, and 0.5% for the community pool. The majority of the remaining tokens will be distributed over the next 36 months, with additional retrospective allocations every 12 months, as well as some forward-looking RFPs for builders. This announcement provides a clear roadmap for the distribution of ZRO tokens, ensuring transparency and fairness in the process. The allocation to the community and builders highlights the importance of these stakeholders in the growth and development of LayerZero.

LayerZero Co-Founder Bryan Pellegrino Announces Token Distribution Plan

According to Odaily, Bryan Pellegrino, co-founder of LayerZero, has announced the approximate distribution plan for the LayerZero token, ZRO. He stated that 23.8% of the ZRO token supply will be directly allocated to the community and builders, excluding the foundation and growth.

On the first day, 8.5% will be distributed, with 5% for the core, 3% for RFP, and 0.5% for the community pool. The majority of the remaining tokens will be distributed over the next 36 months, with additional retrospective allocations every 12 months, as well as some forward-looking RFPs for builders.

This announcement provides a clear roadmap for the distribution of ZRO tokens, ensuring transparency and fairness in the process. The allocation to the community and builders highlights the importance of these stakeholders in the growth and development of LayerZero.
LayerZero CEO Reports User Showcasing Multiple Wallet Addresses on YouTubeAccording to Odaily, Bryan Pellegrino, CEO of LayerZero, has reported a user who was flaunting multiple LayerZero addresses on the X platform. The user had posted a YouTube video that displayed 42 wallet addresses, each of which had been involved in transactions ranging from $2000 to $3000. These transactions were identified as having distinct characteristics of 'witch' features. The CEO's report came after the user's video was flagged for showcasing these addresses.

LayerZero CEO Reports User Showcasing Multiple Wallet Addresses on YouTube

According to Odaily, Bryan Pellegrino, CEO of LayerZero, has reported a user who was flaunting multiple LayerZero addresses on the X platform. The user had posted a YouTube video that displayed 42 wallet addresses, each of which had been involved in transactions ranging from $2000 to $3000. These transactions were identified as having distinct characteristics of 'witch' features. The CEO's report came after the user's video was flagged for showcasing these addresses.
LayerZero CEO Bryan Pellegrino Plans To Release Complete Witch List For Public ReviewAccording to Odaily, Bryan Pellegrino, CEO of LayerZero, has responded to user inquiries stating that the company aims to release a complete list of witches (Chaos + Nansen + all approved bounty hunter clusters) for public review by the end of this week. There will not be a formal address appeal process, but there will be a 24-hour period for reviewing and reporting any clusters found to be flawed or missing. If these clusters are verified, they will be removed. This announcement comes as part of LayerZero's ongoing efforts to maintain transparency and accountability in its operations. The company's decision to allow public review of the witch list underscores its commitment to ensuring the integrity of its bounty hunter clusters. The 24-hour review period will provide users with the opportunity to scrutinize the list and report any discrepancies they may find. This process is expected to enhance the reliability of the list and ensure that all clusters are accurately represented. However, it's important to note that there will not be a formal process for address appeals. This means that any clusters found to be flawed or missing during the review period will be removed if verified, without the opportunity for an appeal. This approach is designed to maintain the integrity of the list and prevent any potential misuse.

LayerZero CEO Bryan Pellegrino Plans To Release Complete Witch List For Public Review

According to Odaily, Bryan Pellegrino, CEO of LayerZero, has responded to user inquiries stating that the company aims to release a complete list of witches (Chaos + Nansen + all approved bounty hunter clusters) for public review by the end of this week. There will not be a formal address appeal process, but there will be a 24-hour period for reviewing and reporting any clusters found to be flawed or missing. If these clusters are verified, they will be removed.

This announcement comes as part of LayerZero's ongoing efforts to maintain transparency and accountability in its operations. The company's decision to allow public review of the witch list underscores its commitment to ensuring the integrity of its bounty hunter clusters.

The 24-hour review period will provide users with the opportunity to scrutinize the list and report any discrepancies they may find. This process is expected to enhance the reliability of the list and ensure that all clusters are accurately represented.

However, it's important to note that there will not be a formal process for address appeals. This means that any clusters found to be flawed or missing during the review period will be removed if verified, without the opportunity for an appeal. This approach is designed to maintain the integrity of the list and prevent any potential misuse.
DeFi godfather Andre Cronje inspired this protocol’s tactic to thwart airdrop attackersAs crypto airdrops become more mainstream, the projects behind them have encountered a big problem: Sybil attackers. These buccaneering DeFi players create multiple wallet addresses to spoof airdrops by pretending to execute legitimate activity, costing crypto projects millions. They syphon rewards from legitimate users and compromise the integrity of the projects they target. Tapioca DAO, a fledgling money market protocol built on LayerZero, says it has a solution. Instead of handing out free tokens, its airdrop will give users the ability to buy its native TAP token at a discounted price. “If someone wants to Sybil, there’s a capital expenditure,” Tapioca DAO co-founder Matt Marino told DL News. “It’s kind of the same outcome. If you airdrop 1,000 tokens at a 50% discount that person ends up with 500 free tokens.” Marino says Tapioca’s approach ensures that even if users do Sybil attack, they won’t just be extracting value — they will have to give something back. Tapioca DAO is building a DeFi money market and stablecoin. It is built on LayerZero, a cross-chain bridge. This lets Tapioca connect borrowers and lenders across different blockchains. Inspiration from the DeFi godfather The inspiration for the airdrop, Marino said, came from Andre Cronje, the so-called DeFi godfather behind protocols Yearn Finance, Keeper Network, and Solidly. “He talked about call options, and I was a big fan of Keeper Network,” he said. “I just really agreed with the principle of what he was talking about, and we just ran with it.” Cronje first floated the idea of incentivising using calls, derivative bets that pay off if a token price rises, in 2021. Still, Tapioca’s plan has risks. Marino said Tapioca is probably the first protocol to attempt an options airdrop. There’s a chance that Sybil attackers will find a loophole to exploit the untested mechanism. It wouldn’t be the first time one of Cronje’s ideas has gone awry. When he launched Solidly in 2022, users gamed the protocol by voting on their own token liquidity pools. The options airdrop Tapioca DAO says its options airdrop will “create the most Sybil resistant, aligned, and value maximised airdrop ever performed.” It’s scheduled to start on June 14, and will give TAP token call options to those who participated in the protocol’s launch auction, Pearl Club ONFT holders, and certain community members. The first round of the airdrop will distribute options with a payoff price 50% below the final TAP launch auction price of $2.07, and will expire in one week. Subsequent rounds will give out options with a 25% to 50% discount. If the TAP price falls below the payoff price of the options, they become worthless, potentially cutting off some users. Marino said this situation is intentional. “We’ve created a protection mechanism where if there’s not enough demand, and the token is falling, then inflation stops,” he said. However, Marino added, the protocol was designed to incentivise holding TAP to avoid this issue. Holders who lock up TAP in the protocol will receive the fees it generates. They’ll also be able to use their locked tokens as collateral to borrow against. ‘Hall monitors’ Marino criticised the popular approach to airdrops, where projects give out free tokens to users who meet certain criteria. “You always end up losing a massive amount of value to people who are Sybiling,” he said. Some projects have spent a lot of time and effort identifying and excluding Sybil attackers, with limited success. Some even put bounties on them, and promise to give more tokens to users who can identify them. This incentivises users to misreport legitimate users to projects in the hopes of securing more tokens for themselves. “They’re putting hall monitors there to look,” Marino said. “It just doesn’t work.” Tapioca’s endgame Besides thwarting Sybil attackers, the options airdrop has another function. Tapioca will use the money raised through the options airdrop to provide liquidity, a system known as protocol-own liquidity — or PoL. Marino said many DeFi money markets and stablecoins end up being very illiquid. “The way you make fees and profit off of a CDP stablecoin as a platform is from leverage. And if you have no liquidity, nobody can leverage it and then you have no fees,” Marino said. CDP stands for collateralised debt position — in essence, creating dollar-valued tokens by locking up other tokens with a greater value as collateral. MakerDAO’s DAI stablecoin uses a CDP model. The hope is that if Tapioca can generate enough PoL, it won’t be dependent on mercenary liquidity providers and can offer competitive rates. Whether Tapioca can achieve this is uncertain. Other protocols that tried to generate PoL, such as Olympus DAO and Tokemak, have struggled to stay relevant. Tim Craig is a DeFi Correspondent at DL News. Got a tip? Email him at tim@dlnews.com.

DeFi godfather Andre Cronje inspired this protocol’s tactic to thwart airdrop attackers

As crypto airdrops become more mainstream, the projects behind them have encountered a big problem: Sybil attackers.

These buccaneering DeFi players create multiple wallet addresses to spoof airdrops by pretending to execute legitimate activity, costing crypto projects millions.

They syphon rewards from legitimate users and compromise the integrity of the projects they target.

Tapioca DAO, a fledgling money market protocol built on LayerZero, says it has a solution. Instead of handing out free tokens, its airdrop will give users the ability to buy its native TAP token at a discounted price.

“If someone wants to Sybil, there’s a capital expenditure,” Tapioca DAO co-founder Matt Marino told DL News. “It’s kind of the same outcome. If you airdrop 1,000 tokens at a 50% discount that person ends up with 500 free tokens.”

Marino says Tapioca’s approach ensures that even if users do Sybil attack, they won’t just be extracting value — they will have to give something back.

Tapioca DAO is building a DeFi money market and stablecoin. It is built on LayerZero, a cross-chain bridge.

This lets Tapioca connect borrowers and lenders across different blockchains.

Inspiration from the DeFi godfather

The inspiration for the airdrop, Marino said, came from Andre Cronje, the so-called DeFi godfather behind protocols Yearn Finance, Keeper Network, and Solidly.

“He talked about call options, and I was a big fan of Keeper Network,” he said. “I just really agreed with the principle of what he was talking about, and we just ran with it.”

Cronje first floated the idea of incentivising using calls, derivative bets that pay off if a token price rises, in 2021.

Still, Tapioca’s plan has risks.

Marino said Tapioca is probably the first protocol to attempt an options airdrop. There’s a chance that Sybil attackers will find a loophole to exploit the untested mechanism.

It wouldn’t be the first time one of Cronje’s ideas has gone awry. When he launched Solidly in 2022, users gamed the protocol by voting on their own token liquidity pools.

The options airdrop

Tapioca DAO says its options airdrop will “create the most Sybil resistant, aligned, and value maximised airdrop ever performed.”

It’s scheduled to start on June 14, and will give TAP token call options to those who participated in the protocol’s launch auction, Pearl Club ONFT holders, and certain community members.

The first round of the airdrop will distribute options with a payoff price 50% below the final TAP launch auction price of $2.07, and will expire in one week. Subsequent rounds will give out options with a 25% to 50% discount.

If the TAP price falls below the payoff price of the options, they become worthless, potentially cutting off some users.

Marino said this situation is intentional.

“We’ve created a protection mechanism where if there’s not enough demand, and the token is falling, then inflation stops,” he said.

However, Marino added, the protocol was designed to incentivise holding TAP to avoid this issue.

Holders who lock up TAP in the protocol will receive the fees it generates. They’ll also be able to use their locked tokens as collateral to borrow against.

‘Hall monitors’

Marino criticised the popular approach to airdrops, where projects give out free tokens to users who meet certain criteria.

“You always end up losing a massive amount of value to people who are Sybiling,” he said.

Some projects have spent a lot of time and effort identifying and excluding Sybil attackers, with limited success.

Some even put bounties on them, and promise to give more tokens to users who can identify them.

This incentivises users to misreport legitimate users to projects in the hopes of securing more tokens for themselves.

“They’re putting hall monitors there to look,” Marino said. “It just doesn’t work.”

Tapioca’s endgame

Besides thwarting Sybil attackers, the options airdrop has another function.

Tapioca will use the money raised through the options airdrop to provide liquidity, a system known as protocol-own liquidity — or PoL.

Marino said many DeFi money markets and stablecoins end up being very illiquid.

“The way you make fees and profit off of a CDP stablecoin as a platform is from leverage. And if you have no liquidity, nobody can leverage it and then you have no fees,” Marino said.

CDP stands for collateralised debt position — in essence, creating dollar-valued tokens by locking up other tokens with a greater value as collateral.

MakerDAO’s DAI stablecoin uses a CDP model.

The hope is that if Tapioca can generate enough PoL, it won’t be dependent on mercenary liquidity providers and can offer competitive rates.

Whether Tapioca can achieve this is uncertain.

Other protocols that tried to generate PoL, such as Olympus DAO and Tokemak, have struggled to stay relevant.

Tim Craig is a DeFi Correspondent at DL News. Got a tip? Email him at tim@dlnews.com.
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🇹🇷📈 Hey there! 🌟 Turkey is planning to introduce a small but significant change to its financial landscape. They're introducing a 0.03% transaction tax on cryptocurrencies, with the goal of driving more comprehensive fiscal reform in the country. This move is part of Turkey's ongoing efforts to strengthen its economy and keep a closer eye on the digital currency market. Let's see how this affects the crypto world! 🚀🤔 #Turkey #Cryptocurrency #LayerZero
🇹🇷📈 Hey there! 🌟 Turkey is planning to introduce a small but significant change to its financial landscape. They're introducing a 0.03% transaction tax on cryptocurrencies, with the goal of driving more comprehensive fiscal reform in the country. This move is part of Turkey's ongoing efforts to strengthen its economy and keep a closer eye on the digital currency market. Let's see how this affects the crypto world! 🚀🤔

#Turkey #Cryptocurrency #LayerZero
LayerZero CEO Bryan Pellegrino Announces Progress on Project ApprovalsAccording to Odaily, Bryan Pellegrino, CEO of LayerZero, has recently announced that the company has made significant progress with nearly 200 approved project reports. Pellegrino expressed his satisfaction with the company's progress, stating that it feels great to be entering the final stages of this process. LayerZero is a technology company that focuses on developing innovative solutions in the tech industry. The CEO's announcement indicates that the company is making strides in its project development, with a large number of reports receiving approval. This suggests that LayerZero is on track to complete its current projects successfully. Pellegrino's statement reflects the company's commitment to its projects and its dedication to achieving its goals. The CEO's positive outlook on the company's progress is a testament to the hard work and dedication of the LayerZero team. As the company moves into the final stages of its current projects, it is expected to continue its trend of success in the tech industry.

LayerZero CEO Bryan Pellegrino Announces Progress on Project Approvals

According to Odaily, Bryan Pellegrino, CEO of LayerZero, has recently announced that the company has made significant progress with nearly 200 approved project reports. Pellegrino expressed his satisfaction with the company's progress, stating that it feels great to be entering the final stages of this process.

LayerZero is a technology company that focuses on developing innovative solutions in the tech industry. The CEO's announcement indicates that the company is making strides in its project development, with a large number of reports receiving approval. This suggests that LayerZero is on track to complete its current projects successfully.

Pellegrino's statement reflects the company's commitment to its projects and its dedication to achieving its goals. The CEO's positive outlook on the company's progress is a testament to the hard work and dedication of the LayerZero team. As the company moves into the final stages of its current projects, it is expected to continue its trend of success in the tech industry.
LayerZero Expands Protocol to BounceBit, a BTC Re-Pledging NetworkAccording to Odaily, LayerZero, a prominent blockchain protocol, has announced its expansion to BounceBit, a Bitcoin re-pledging network. This strategic move signifies LayerZero's continuous efforts to broaden its reach and enhance its services in the blockchain industry. The integration with BounceBit, a network that allows for the re-pledging of Bitcoin, will provide LayerZero with an opportunity to tap into a new market segment. This expansion is expected to bring about significant benefits for both LayerZero and BounceBit, potentially leading to increased user engagement and improved service delivery. Further details about the expansion or the potential impact on the users of both platforms have not been disclosed yet. As the blockchain industry continues to evolve, such strategic partnerships and expansions are becoming increasingly important for companies to stay competitive and relevant.

LayerZero Expands Protocol to BounceBit, a BTC Re-Pledging Network

According to Odaily, LayerZero, a prominent blockchain protocol, has announced its expansion to BounceBit, a Bitcoin re-pledging network. This strategic move signifies LayerZero's continuous efforts to broaden its reach and enhance its services in the blockchain industry.

The integration with BounceBit, a network that allows for the re-pledging of Bitcoin, will provide LayerZero with an opportunity to tap into a new market segment. This expansion is expected to bring about significant benefits for both LayerZero and BounceBit, potentially leading to increased user engagement and improved service delivery.

Further details about the expansion or the potential impact on the users of both platforms have not been disclosed yet. As the blockchain industry continues to evolve, such strategic partnerships and expansions are becoming increasingly important for companies to stay competitive and relevant.
Today in web 3 Covering significant buzz around decentralized apps, cryptocurrency trends Dive into the latest developments 👇 🔘 BTC, ETH and SOL at $66.9k, $3.5k and $147 respectively 🔘 @vaneck_us sets to invest more funds to promote its spot Bitcoin ETF 🔘 @Ripple calls SEC's $2 Billion fine excessive 🔘 @paradigm announce successful raising of $850 million for its third fund which will target early-stage project 🔘 @LayerZero_Labs sets to expand to Bitcoin re-staking network, BounceBit 🔘 @wormhole now supports PayPal stablecoin PYUSD as it gets integrated into Injective network 🔘 $PEW wins the latest round of @Blast_L2 gold jackpot Credits: BeInCrypto, ChainCatcher, MarsBit, PANews
Today in web 3

Covering significant buzz around decentralized apps, cryptocurrency trends

Dive into the latest developments 👇

🔘 BTC, ETH and SOL at $66.9k, $3.5k and $147 respectively

🔘 @vaneck_us sets to invest more funds to promote its spot Bitcoin ETF

🔘 @Ripple calls SEC's $2 Billion fine excessive

🔘 @paradigm announce successful raising of $850 million for its third fund which will target early-stage project

🔘 @LayerZero_Labs sets to expand to Bitcoin re-staking network, BounceBit

🔘 @wormhole now supports PayPal stablecoin PYUSD as it gets integrated into Injective network

🔘 $PEW wins the latest round of @Blast_L2 gold jackpot

Credits: BeInCrypto, ChainCatcher, MarsBit, PANews
ZkSync Faces Backlash From Crypto Community Amid Token Airdrop ControversyEthereum’s Zero-Knowledge (ZK) Layer-2 scaling solution, zkSync, is facing backlash from the crypto community after its recent ZK token airdrop announcement.  Community members have expressed concerns about the lack of anti-Sybil filtering and the “unfair” token distribution. ZkSync Faces Backlash On Tuesday, zkSync announced the upcoming airdrop of its ZK token and the distribution plan. According to the announcement, 17.5% of ZK’s 21 billion token supply will be airdropped to 695,000 eligible wallets on June 17. Introducing the ZK Token Checker → https://t.co/O2UonCvfziAnnouncement → https://t.co/hjgI14PHoiDocs → https://t.co/taWBoCnfbc It’s time to put the ZK token into the hands of the community. It’s your turn to govern ZKsync’s future. pic.twitter.com/VD3fZgH5bf — ZK Nation (@TheZKNation) June 11, 2024 Additionally, 33.3% of the token’s supply would be distributed between the project’s team and investors. The allocation was meant to reward early users and long-time supporters among zkSync’s community. Per the post, eligible users could receive up to 100,000 ZK tokens depending on the criteria they had met before the March 25 snapshot. However, the project faced criticism after users started to check their allocation. Online reports revealed that some community members were not content with their rewards.  Despite being active long-term users, many investors claimed to have received a lower token allocation than others with less activity. Similarly, several users complained of not being eligible for the airdrop despite their volume and transaction history and meeting the criteria.  One X user shared being in the top 0.04% of wallets and receiving only 1,023 ZK tokens, while wallets with significantly less activity registered after the snapshot got the maximum allocation. Just one word@zksync#Zkscam pic.twitter.com/wbBzEm72wb — Rahim29 (@rahim1370219) June 11, 2024 Various top-ranking projects built on zkSync have expressed disappointment after not being included. NFT project zkApes and NFT marketplace Element shared they had not received any airdrops despite generating between $15-$20 million in gas fees for the network. We generated $15 million in gas fees for @zksync , but received no airdrop in return. What a joke!!!#zk #zksync — zkApes | Build on zkSync (@zk_apes) June 12, 2024 Moreover, zkApes, Element NFT, and other projects have formed a coalition to “keep the pressure” on zkSync’s team and negotiate a token allocation, which would be distributed between their communities. Critics expressed their desire for “transparency and fairness.” A Lack Of Anti-Sybil Filtering? Mudit Gupta, Chief Information Security Officer (CISO) at Polygon Labs, called the situation the “most farmable and farmed airdrop ever.”  zkSync airdrop is out. Most farmable and farmed airdrop ever probably. Almost no sybil filtering as far as I can see. Anyone who knew the criteria could've easily farmed the shit out of it. Makes you appreciate what LayerZero is trying to do with sybil filtering. — Mudit Gupta (@Mudit__Gupta) June 11, 2024 Gupta highlighted the lack of anti-Sybil filtering and claimed that “anyone who knew the criteria could’ve easily farmed the shit out of it.” Similarly, Adam Cochran, partner at Cinneamhain Ventures, considers the airdrop not well-planned from a Sybil perspective. He pointed out that the criteria were “easy to not hit as a real user, and easy to hit as a farmer.” I love the zkSync guys but damn that was not a well planned airdrop from a sybil perspective. Those criteria are easy to not hit as a real user, and easy to hit as a farmer, and had no anti-sybil program. Real users could easily use 1-2 dapps or only a handful of tokens on your… pic.twitter.com/PiqprIbKJ3 — Adam Cochran (adamscochran.eth) (@adamscochran) June 11, 2024 Many users believed that the controversial criteria were not zkSync’s responsibility but that the crypto analytic firm Nansen was at fault. However, Nansen clarified they had not been involved with the ZK airdrop. In an X post, the firm stated that they provided data to Matter Labs, zkSync’s developing company, in the past.  The information provided included data about the wallets of some whales and known scammers. Additionally, they explained they did not do any anti-Sybiling or give any advice on the token allocation. It’s worth noting that the project decided not to use any anti-Sybil criteria for the airdrop as it was considered an “incomplete approach.” (…) It’s tempting to eliminate bot swarms by applying strict sybil criteria. But Sybil detection often cuts out real users with arbitrary filters. This was an incomplete approach for the ZK airdrop. The ZK airdrop focuses on identifying real users using a human-first approach. According to online reports, Sybil wallets are estimated to receive around $135 million ZK tokens from the airdrop, based on an initial list provided by LayerZero Labs. Since then, the Sybil list has been discarded by Bryan Pellegrino, CEO of LayerZero.

ZkSync Faces Backlash From Crypto Community Amid Token Airdrop Controversy

Ethereum’s Zero-Knowledge (ZK) Layer-2 scaling solution, zkSync, is facing backlash from the crypto community after its recent ZK token airdrop announcement. 

Community members have expressed concerns about the lack of anti-Sybil filtering and the “unfair” token distribution.

ZkSync Faces Backlash

On Tuesday, zkSync announced the upcoming airdrop of its ZK token and the distribution plan. According to the announcement, 17.5% of ZK’s 21 billion token supply will be airdropped to 695,000 eligible wallets on June 17.

Introducing the ZK Token

Checker → https://t.co/O2UonCvfziAnnouncement → https://t.co/hjgI14PHoiDocs → https://t.co/taWBoCnfbc

It’s time to put the ZK token into the hands of the community. It’s your turn to govern ZKsync’s future. pic.twitter.com/VD3fZgH5bf

— ZK Nation (@TheZKNation) June 11, 2024

Additionally, 33.3% of the token’s supply would be distributed between the project’s team and investors. The allocation was meant to reward early users and long-time supporters among zkSync’s community.

Per the post, eligible users could receive up to 100,000 ZK tokens depending on the criteria they had met before the March 25 snapshot. However, the project faced criticism after users started to check their allocation.

Online reports revealed that some community members were not content with their rewards. 

Despite being active long-term users, many investors claimed to have received a lower token allocation than others with less activity.

Similarly, several users complained of not being eligible for the airdrop despite their volume and transaction history and meeting the criteria. 

One X user shared being in the top 0.04% of wallets and receiving only 1,023 ZK tokens, while wallets with significantly less activity registered after the snapshot got the maximum allocation.

Just one word@zksync#Zkscam pic.twitter.com/wbBzEm72wb

— Rahim29 (@rahim1370219) June 11, 2024

Various top-ranking projects built on zkSync have expressed disappointment after not being included. NFT project zkApes and NFT marketplace Element shared they had not received any airdrops despite generating between $15-$20 million in gas fees for the network.

We generated $15 million in gas fees for @zksync , but received no airdrop in return. What a joke!!!#zk #zksync

— zkApes | Build on zkSync (@zk_apes) June 12, 2024

Moreover, zkApes, Element NFT, and other projects have formed a coalition to “keep the pressure” on zkSync’s team and negotiate a token allocation, which would be distributed between their communities. Critics expressed their desire for “transparency and fairness.”

A Lack Of Anti-Sybil Filtering?

Mudit Gupta, Chief Information Security Officer (CISO) at Polygon Labs, called the situation the “most farmable and farmed airdrop ever.” 

zkSync airdrop is out.

Most farmable and farmed airdrop ever probably.

Almost no sybil filtering as far as I can see.

Anyone who knew the criteria could've easily farmed the shit out of it.

Makes you appreciate what LayerZero is trying to do with sybil filtering.

— Mudit Gupta (@Mudit__Gupta) June 11, 2024

Gupta highlighted the lack of anti-Sybil filtering and claimed that “anyone who knew the criteria could’ve easily farmed the shit out of it.”

Similarly, Adam Cochran, partner at Cinneamhain Ventures, considers the airdrop not well-planned from a Sybil perspective. He pointed out that the criteria were “easy to not hit as a real user, and easy to hit as a farmer.”

I love the zkSync guys but damn that was not a well planned airdrop from a sybil perspective.

Those criteria are easy to not hit as a real user, and easy to hit as a farmer, and had no anti-sybil program.

Real users could easily use 1-2 dapps or only a handful of tokens on your… pic.twitter.com/PiqprIbKJ3

— Adam Cochran (adamscochran.eth) (@adamscochran) June 11, 2024

Many users believed that the controversial criteria were not zkSync’s responsibility but that the crypto analytic firm Nansen was at fault. However, Nansen clarified they had not been involved with the ZK airdrop.

In an X post, the firm stated that they provided data to Matter Labs, zkSync’s developing company, in the past. 

The information provided included data about the wallets of some whales and known scammers. Additionally, they explained they did not do any anti-Sybiling or give any advice on the token allocation.

It’s worth noting that the project decided not to use any anti-Sybil criteria for the airdrop as it was considered an “incomplete approach.”

(…) It’s tempting to eliminate bot swarms by applying strict sybil criteria. But Sybil detection often cuts out real users with arbitrary filters. This was an incomplete approach for the ZK airdrop. The ZK airdrop focuses on identifying real users using a human-first approach.

According to online reports, Sybil wallets are estimated to receive around $135 million ZK tokens from the airdrop, based on an initial list provided by LayerZero Labs. Since then, the Sybil list has been discarded by Bryan Pellegrino, CEO of LayerZero.
LEAK 🚨 MASSSIVE Growth track for the interoperability of #MultiversX from an email from @lucianmincu - Native Bridge V3 - #THORChain and MayaProtocolEsp integration - Native IBC for main-chain and sovereign-chain - #Axelar for July - Dedicated team working on ZK IBC - #LayerZero - Wormhole #EGLD $EGLD {spot}(EGLDUSDT)
LEAK 🚨

MASSSIVE Growth track for the interoperability of #MultiversX from an email from @lucianmincu

- Native Bridge V3
- #THORChain and MayaProtocolEsp integration
- Native IBC for main-chain and sovereign-chain
- #Axelar for July
- Dedicated team working on ZK IBC
- #LayerZero
- Wormhole

#EGLD $EGLD
LayerZero Launches on Sei V2The Sei team announced via X on Tuesday that LayerZero, an omnichain interoperability protocol, has launched on the Sei V2.

LayerZero Launches on Sei V2

The Sei team announced via X on Tuesday that LayerZero, an omnichain interoperability protocol, has launched on the Sei V2.
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Symbiotic To Be Integrated Into LayerZero Via Ethena LabsAccording to Odaily, LayerZero Labs has announced that Symbiotic will be integrated into the LayerZero DVN framework via Ethena Labs. This integration will allow users to stake ENA to ensure the cross-chain transfer of Ethena assets. LayerZero Labs made the announcement on platform X. The integration of Symbiotic into LayerZero is expected to enhance the functionality and security of the LayerZero DVN framework. By staking ENA, users will be able to ensure the safe and efficient cross-chain transfer of their Ethena assets. This development is a significant step forward for LayerZero Labs, as it continues to innovate and expand its services. Further details about the integration and its potential impact on the LayerZero DVN framework and its users are yet to be released. However, the announcement has already generated significant interest in the crypto community, highlighting the growing importance of cross-chain transfer capabilities in the digital asset space.

Symbiotic To Be Integrated Into LayerZero Via Ethena Labs

According to Odaily, LayerZero Labs has announced that Symbiotic will be integrated into the LayerZero DVN framework via Ethena Labs. This integration will allow users to stake ENA to ensure the cross-chain transfer of Ethena assets. LayerZero Labs made the announcement on platform X.

The integration of Symbiotic into LayerZero is expected to enhance the functionality and security of the LayerZero DVN framework. By staking ENA, users will be able to ensure the safe and efficient cross-chain transfer of their Ethena assets. This development is a significant step forward for LayerZero Labs, as it continues to innovate and expand its services.

Further details about the integration and its potential impact on the LayerZero DVN framework and its users are yet to be released. However, the announcement has already generated significant interest in the crypto community, highlighting the growing importance of cross-chain transfer capabilities in the digital asset space.
Not reading y'all think pieces on Layerzero, just wanna be eligible on Checker Day. Eligibility >>>> opinion
Not reading y'all think pieces on Layerzero, just wanna be eligible on Checker Day.

Eligibility >>>> opinion
Today in web 3 Covering significant buzz around decentralized apps, cryptocurrency trends Dive into the latest developments 👇 🔘 BTC, ETH and SOL at $69.4k, $3.6k and $159 respectively 🔘 @Bybit_Web3 sets to host an on-chain trading competition on Base, offering a 55,000 USDT prize pool 🔘 Solana launches Mainnet v1.18.15 🔘 Paxos' newly launched stablecoin USDL is now available to Argentine users 🔘Layerzero CEO, @PrimordialAA , further reassures that Layerzero TGE will be before the end of June 🔘 Zksync hints at a major announcement coming soon 🔘 @taikoxyz sets to launch a new bounty program investigate Taiko's Based Contestable Rollup protocol vulnerabilities 🔘 Pendle TVL exceeds a record high $6.6 billion 🔘 @unisat_wallet successfully distributed $PIZZA to all eligible users that claimed it 🔘 Total NFT sales increased by 19% in the past week, with blast sales increasing by a huge 95% Credits: Cryptoslam, ODAILY
Today in web 3

Covering significant buzz around decentralized apps, cryptocurrency trends

Dive into the latest developments 👇

🔘 BTC, ETH and SOL at $69.4k, $3.6k and $159 respectively

🔘 @Bybit_Web3 sets to host an on-chain trading competition on Base, offering a 55,000 USDT prize pool

🔘 Solana launches Mainnet v1.18.15

🔘 Paxos' newly launched stablecoin USDL is now available to Argentine users

🔘Layerzero CEO, @PrimordialAA , further reassures that Layerzero TGE will be before the end of June

🔘 Zksync hints at a major announcement coming soon

🔘 @taikoxyz sets to launch a new bounty program investigate Taiko's Based Contestable Rollup protocol vulnerabilities

🔘 Pendle TVL exceeds a record high
$6.6 billion

🔘 @unisat_wallet successfully distributed $PIZZA to all eligible users that claimed it

🔘 Total NFT sales increased by 19% in the past week, with blast sales increasing by a huge 95%

Credits: Cryptoslam, ODAILY
[ICYMI] Thanks to the integration of @LayerZero_Labs' cross-chain messaging protocol with #IOTAEVM, devs can now create omnichain apps, use cross-chain messaging & interact seamlessly with over 50 DLTs on IOTA EVM. 💪 @CoinMarketCap Learn more 👇 https://coinmarketcap.com/community/articles/66617bc2c275e93968f8421c/
[ICYMI] Thanks to the integration of @LayerZero_Labs' cross-chain messaging protocol with #IOTAEVM, devs can now create omnichain apps, use cross-chain messaging & interact seamlessly with over 50 DLTs on IOTA EVM. 💪 @CoinMarketCap
Learn more 👇
https://coinmarketcap.com/community/articles/66617bc2c275e93968f8421c/
LayerZero Labs Launches Sei V2 on X PlatformAccording to Odaily, LayerZero Labs has announced the launch of Sei V2 on the X platform. This new development allows developers on other LayerZero-supported networks to seamlessly deploy their applications on Sei V2. The launch of Sei V2 marks a significant step forward for LayerZero Labs, as it continues to expand its platform and services. The introduction of Sei V2 on the X platform provides developers with a more efficient and streamlined process for deploying their applications. This is expected to enhance the overall user experience and functionality of the LayerZero-supported networks. The launch of Sei V2 is a testament to LayerZero Labs' commitment to providing innovative solutions and services to its users. It also underscores the company's dedication to fostering a more interconnected and efficient digital ecosystem. Further details about the launch and the features of Sei V2 were not provided in the original report. However, the announcement is expected to have a positive impact on the LayerZero Labs community and the broader digital ecosystem.

LayerZero Labs Launches Sei V2 on X Platform

According to Odaily, LayerZero Labs has announced the launch of Sei V2 on the X platform. This new development allows developers on other LayerZero-supported networks to seamlessly deploy their applications on Sei V2. The launch of Sei V2 marks a significant step forward for LayerZero Labs, as it continues to expand its platform and services.

The introduction of Sei V2 on the X platform provides developers with a more efficient and streamlined process for deploying their applications. This is expected to enhance the overall user experience and functionality of the LayerZero-supported networks.

The launch of Sei V2 is a testament to LayerZero Labs' commitment to providing innovative solutions and services to its users. It also underscores the company's dedication to fostering a more interconnected and efficient digital ecosystem.

Further details about the launch and the features of Sei V2 were not provided in the original report. However, the announcement is expected to have a positive impact on the LayerZero Labs community and the broader digital ecosystem.
LayerZero CEO Bryan Pellegrino Aims for Quality Reports, TGE Expected in First Half of 2024According to BlockBeats, Bryan Pellegrino, CEO of LayerZero, recently expressed his focus on quality reports on the X platform. He stated that the previous weekend was primarily spent eliminating subpar reports, and he now wishes to concentrate on superior ones. He encouraged those who believe their reports are exceptional, after reviewing the approved and rejected ones, to publish them. Despite their best efforts, Pellegrino acknowledged the reality that it is impossible to review 100% of all reports. He assured that they would complete most of them but might not be able to finish all. Therefore, he emphasized the importance of receiving high-quality reports. In response to a query on the X platform about when the 'witch check' would end and the final list would be published, Pellegrino estimated that it would be before the end of the first half of 2024. He also indicated that the Token Generation Event (TGE) would occur within the same timeframe.

LayerZero CEO Bryan Pellegrino Aims for Quality Reports, TGE Expected in First Half of 2024

According to BlockBeats, Bryan Pellegrino, CEO of LayerZero, recently expressed his focus on quality reports on the X platform. He stated that the previous weekend was primarily spent eliminating subpar reports, and he now wishes to concentrate on superior ones. He encouraged those who believe their reports are exceptional, after reviewing the approved and rejected ones, to publish them.

Despite their best efforts, Pellegrino acknowledged the reality that it is impossible to review 100% of all reports. He assured that they would complete most of them but might not be able to finish all. Therefore, he emphasized the importance of receiving high-quality reports.

In response to a query on the X platform about when the 'witch check' would end and the final list would be published, Pellegrino estimated that it would be before the end of the first half of 2024. He also indicated that the Token Generation Event (TGE) would occur within the same timeframe.
#TRONICS, discover the cross-chain protocols supporting the #TRONNetwork! 🌐 From @BitTorrent Chain to mainstream protocols like @LayerZero_Labs, @routerprotocol, and more, see how TRON is leading the way in interoperability. 🔗 Learn more 👇
#TRONICS, discover the cross-chain protocols supporting the #TRONNetwork! 🌐

From @BitTorrent Chain to mainstream protocols like @LayerZero_Labs, @routerprotocol, and more, see how TRON is leading the way in interoperability. 🔗

Learn more 👇
LayerZero Sybil Check List Will Release Before Mid-2024Key Points: The LayerZero sybil check list will be completed by mid-2024, and the identification formula will be announced this month. Users who self-report sybil behavior will receive 15% of airdrop tokens; non-reporters will get none. LayerZero and Nansen will use data from 100,000 wallets to train AI in recognizing sybil patterns, enhancing future project airdrops. LayerZero CEO Bryan Pellegrino has announced via social media that the sybil hunt will conclude and the final LayerZero sybil check list will be released before the first half of 2024. LayerZero Sybil Check List to Be Completed by Mid-2024 Previously, LayerZero introduced a public disclosure portal for users to confess any involvement in sybil behavior. LayerZero sybil check allows the project to identify and list addresses involved in sybil activities and launch a bounty program to encourage reporting of such behaviors. LayerZero and Nansen will analyze a dataset of over 100,000 wallets to train their AI in recognizing sybil patterns, aiming to assist other projects with airdrop allocations. Users who voluntarily admit to sybil behavior will be rewarded with 15% of the initial airdrop tokens. Conversely, those discovered without self-reporting will forfeit any token allocation. AI Training with Sybil Data for Future Airdrops The project also invites reports from sybil hunters, offering a reward of 10% of the tokens associated with the reported sybil wallet as part of the TGE project. So far, LayerZero has received over 3,000 reports of suspected sybil wallet clusters and more than 30,000 appeals from account holders. To mitigate spam, LayerZero initially proposed a reporting fee of 0.02 ETH, which has since increased 25-fold due to high volumes of reports. LayerZero is an omnichain, cross-chain protocol designed to enable decentralized applications to interact across multiple blockchains, enhancing interoperability through cross-chain messaging. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

LayerZero Sybil Check List Will Release Before Mid-2024

Key Points:

The LayerZero sybil check list will be completed by mid-2024, and the identification formula will be announced this month.

Users who self-report sybil behavior will receive 15% of airdrop tokens; non-reporters will get none.

LayerZero and Nansen will use data from 100,000 wallets to train AI in recognizing sybil patterns, enhancing future project airdrops.

LayerZero CEO Bryan Pellegrino has announced via social media that the sybil hunt will conclude and the final LayerZero sybil check list will be released before the first half of 2024.

LayerZero Sybil Check List to Be Completed by Mid-2024

Previously, LayerZero introduced a public disclosure portal for users to confess any involvement in sybil behavior. LayerZero sybil check allows the project to identify and list addresses involved in sybil activities and launch a bounty program to encourage reporting of such behaviors.

LayerZero and Nansen will analyze a dataset of over 100,000 wallets to train their AI in recognizing sybil patterns, aiming to assist other projects with airdrop allocations. Users who voluntarily admit to sybil behavior will be rewarded with 15% of the initial airdrop tokens. Conversely, those discovered without self-reporting will forfeit any token allocation.

AI Training with Sybil Data for Future Airdrops

The project also invites reports from sybil hunters, offering a reward of 10% of the tokens associated with the reported sybil wallet as part of the TGE project. So far, LayerZero has received over 3,000 reports of suspected sybil wallet clusters and more than 30,000 appeals from account holders.

To mitigate spam, LayerZero initially proposed a reporting fee of 0.02 ETH, which has since increased 25-fold due to high volumes of reports.

LayerZero is an omnichain, cross-chain protocol designed to enable decentralized applications to interact across multiple blockchains, enhancing interoperability through cross-chain messaging.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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