LayerZero Launches Anti-Sybil Initiative with Self-Reporting and Bounty Program

May 3, 2024, 10:24 PM

LayerZero has introduced a new policy aimed at combating sybil activities within its network. The policy outlines a sybil filtering process involving three phases: self-reporting for 15% of the intended allocation, internal sybil reports by LZ Labs with sybils receiving nothing, and a bounty hunter program where users can report sybils to receive 10% of the sybil's intended allocation. The deadline for sybils to self-report is May 17. This initiative reflects LayerZero's commitment to ensuring fair token distribution and prioritizing genuine users over sybil farmers.