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Coin Edition -
- LayerZero Labs bans employees from participating in the project’s token airdrop.
- Community watchdog scrutinizes over 500 transactions for insider airdrop claims.
- LayerZero addresses Sybil’s attacks with a self-reporting initiative ending next week.
LayerZero Labs CEO Bryan Pellegrino has confirmed that all company employees will be strictly prohibited from participating in the upcoming airdrop of the project’s tokens. Per the disclosure, this policy has been internally communicated and will be enforced with severe consequences, including potential termination.
Pellegrino announced the airdrop policy in a recent post on X while responding to community concerns. In particular, he responded to observations made by user Liubomyr, who has been monitoring the wallets associated with the LayerZero team and moderators. With over 500 transactions under scrutiny, Liubomyr intends to uncover whether these insiders are receiving the airdrop.
Will announce something publicly about this, every LayerZero labs employee is 100% restricted from claiming and has no eligibility — it will be a fireable offense and has been announced internally for some time and has always been the case— Bryan Pellegrino (臭企鹅) (@PrimordialAA) May 7, 2024
Notably, LayerZero is an interoperability protocol designed to empower developers by enabling the creation of cross-chain applications complete with adaptable security parameters. LayerZero Labs is the primary driving force behind the development of this protocol.
The latest development from LayerZero follows the project’s earlier initiative to address Sybil attacks. Early this month, LayerZero offered users gaming the system a chance to self-report in exchange for a 15% reduced allocation of the airdrop.
Notably, the offer window ends on the 17th of this month. Those who did not come forward risked being excluded from the airdrop entirely. The initial snapshot for the airdrop was taken on May 1, setting the stage for the upcoming distribution.
Meanwhile, LayerZero Labs has remained tight-lipped about the details of the anticipated airdrop. Regardless, previous hints point towards a potential token release in early 2024.
Ultimately, LayerZero Labs’ approach reflects a growing trend in the crypto industry to prioritize equitable distribution and transparency in token allocations. Last year, Coin Edition reported that as much as 60% of the TIA airdrop tokens distributed by the Celestia team were claimed by Sybil addresses and airdrop hunters.
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