LayerZero Launches Airdrop Claim Checker Page, ZRO Token Claims Begin Next Week

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As a researcher with experience in the crypto space, I’m thrilled to see LayerZero taking steps towards distributing its new ZRO tokens through an airdrop. The launch of the airdrop claim checker page is a significant milestone that marks the next phase in this process. However, I’m also aware of the challenges that come with such distributions, particularly the issue of Sybil attacks.

LayerZero, the cross-chain messaging protocol, has made its airdrop eligibility verification page accessible to all. Users can now confirm if they qualify for the forthcoming distribution of ZRO tokens. According to Bryan Pellegrino, one of LayerZero’s co-founders, who recently announced on X, the token claims are set to begin next week.

As a analyst, I’d express it this way: I’m excited to announce that we’ve reached a significant milestone in our roadmap at LayerZero. This latest advancement signifies the next phase in our strategy to disseminate the new ZRO tokens to our valued community members.

Tackling Sybil Attacks

Pellegrino highlighted the challenges of identifying and barring Sybil attackers in the checkpoint system, explaining the complexities involved in labeling all the appropriate addresses. Sybil attacks represent a frequent problem in crypto airdrops, where malicious actors exploit the system by generating numerous false identities to amass more tokens than they are eligible for.

As a researcher, I’ve discovered that approximately 10 million tokens originally intended for Sybil addresses have been returned to their rightful owners. In an upcoming post, I will provide a comprehensive analysis of this Sybil address issue, its consequences, and the methods we employed to restore these tokens to legitimate users.

Details of the Airdrop

In the context of LayerZero’s broader Token Generation Event (TGE), an airdrop representing 8.5% of the total ZRO token supply is distributed. This allotment consists of 5% for the core community, 3% for RFP, and a small portion of 0.5% for the community pool.

To be eligible for the airdrop, certain conditions must be met. These include having an average trading volume, paying a specified amount in fees, sending a minimum of 15 L0 messages, and being active for a certain number of months. The number of tokens distributed will range from a low of 50 to 100 tokens up to a high of 5,000 to 10,000 tokens.

Finalizing Allocations

Pellegrino recommended users to input their addresses on the verification platform separately from linking their wallets as a precaution against potential online frauds prior to initiating the claim process. The Sybil Hunter team at LayerZero is working on enhancing the tagging mechanism over the next week for equitable distribution, and following these improvements, some wallets may observe an enhancement in their allocation amounts.

The scheduled date for the official Token Generation Event (TGE) is June 20th. Notable exchanges such as Kucoin and Binance have announced their intent to list the ZRO token following this event. These centralized exchange listings will likely increase the availability and liquidity of ZRO tokens for a larger audience.

Pellegrino’s announcement has generated buzz within the cryptocurrency world, as people anxiously anticipate the initiation of token claims. Keep informed by regularly checking the authoritative sources of LayerZero for any updates regarding the ZRO token distribution.

About LayerZero

LayerZero is recognized for its ground-breaking technology that links multiple blockchains directly, enabling fluid cross-chain interaction with no reliance on intermediaries. The business garnered substantial interest last April, following a successful $120 million Series B funding round at a valuation of $3 billion. Notable investors, including Andreessen Horowitz and Sequoia Capital, participated in this financing event. LayerZero’s airdrop has been one of the most actively farmed events in recent memory.

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2024-06-19 13:43