Nearly 24% of the token\u2019s supply will be distributed to LayerZero users and developers.<\/p>\n
LayerZero\u2019s highly-anticipated airdrop is set to be among the largest ever.<\/p>\n
On July 19, Bryan Pellegrino, the CEO of LayerZero Foundation, revealed<\/a> that 1.28 million wallets are eligible for the popular cross-chain interoperability protocol\u2019s long-awaited token generation event.<\/p>\n Pellegrino said<\/a> that 23.8% of the token\u2019s supply is earmarked for LayerZero users and developers. He added that 8.5% of the said tokens will be claimable when the airdrop goes live, with 5% going to core contributors, 3% to ecosystem projects that have submitted requests for proposals (RFP) requesting an allocation, and 0.5% to its community pool.<\/p>\n The remaining tokens will be gradually distributed over three years, in addition to retroactive distributions every 12 months.<\/p>\n However, Pellegrino noted that the exact number of eligible wallets may change as the project finalizes its efforts to remove wallets engaged in sybil farming. Sybiling describes when a single entity uses multiple wallets to farm activity on a protocol in a bid to increase their airdrop allocation.<\/p>\n \u201cWe’ve been running a bunch of distr[ibution] sim[ulations] and given we haven’t finalized the final Sybil or the final RFP, it’s a bit hard to say exactly but a general shape is emerging,\u201d Pellegrino said.<\/p>\n LayerZero users can now access an eligibility checker to their past on-chain activity qualifying them for the airdrop.<\/p>\n The news comes as excitement builds for LayerZero\u2019s airdrop, which is among the most highly anticipated token generation events to date.<\/p>\n In April 2023, LayerZero activity tripled<\/a> in one month in response to Arbitrum completing<\/a> its record-breaking airdrop.<\/p>\n Airdrops are a popular mechanism used by web3 projects to decentralize by distributing governance tokens to early users, also incentivizing early adoption.<\/p>\n LayerZero confirmed<\/a> it would conduct an airdrop on May 1 when it took a snapshot of users\u2019 wallet addresses and past activity. LayerZero described the move as “snapshot #1,\u201d hinting that additional snapshots and token distributions may take place in the future.<\/p>\n Pellegrino said<\/a> the upcoming airdrop will distribute between 25 and 5,000 tokens to core contributors, and between 5 and 10,000 tokens to RFPs.<\/p>\n On May 3, LayerZero announced it would wage an anti-sybil campaign<\/a> against airdrop farmers.<\/p>\n LayerZero will exclude addresses identified as engaging in Sybil activity from the airdrop, while Sybil users that self-report to the project could still receive 15% of their expected token allocation.<\/p>\n Of the six million wallets that have used LayerZero to date, Pellegrino said<\/a> roughly 1 million were engaged in sybil farming.<\/p>\n \u201cAlmost 10 million tokens that would have gone to Sybil [attackers will be returned] back to users,\u201d Pellegrino said<\/a>.<\/p>\n Pellegrino added that LayerZero will soon update its eligibility checker to include Sybil addresses.<\/p>\nAirdrop anticipation builds<\/h2>\n
Anti-Sybil crackdown<\/strong><\/h2>\n