By
Anisha Pandey
June 25th, 2024
This crucial development marks the next step in LayerZero’s plan to distribute its new ZRO tokens to the community.
LayerZero, a cross-chain messaging protocol, has officially launched its airdrop claim checker page, enabling users to verify their eligibility for the upcoming ZRO token distribution. Bryan Pellegrino, co-founder of LayerZero, announced on X that claims for the ZRO token will commence next week.
This crucial development marks the next step in LayerZero’s plan to distribute its new ZRO tokens to the community.
Tackling Sybil Attacks
Pellegrino pointed out the difficulties of exluding sybil hunters in the checker portal, mentioning how tricky it is to tag all the right addresses. Sybil attacks are a common issue in crypto airdrops where bad actors create multiple fake identities to claim more tokens than they are entitled to.
“Almost 10 million tokens that would have gone to sybil addresses are back to users,” Pellegrino noted in his post. He also promised a detailed write-up on the sybil hunt, its impact, and how the team managed to return tokens to legitimate users.
Details of the Airdrop
The airdrop, which is part of LayerZero’s broader token generation event (TGE), will see an initial allocation of 8.5% of the total ZRO token supply. This includes 5% for the core community, 3% for RFP, and 0.5% for the community pool.
The criteria for the airdrop include average volume, fees spent, L0 message count (minimum of 15), and active months, with allocations ranging from a minimum of 50 to 100 tokens to a maximum of 5,000 to 10,000 tokens.
Finalizing Allocations
Pellegrino advised users to type in their addresses on the checker site without connecting their wallets, a security measure aimed at protecting users from online scams before the actual claim begins. The LayerZero team will continue to refine the sybil hunter tagging process over the next week to ensure fair distribution. As these adjustments are made, eligible wallets may see an increase in their allocations.
The official TGE is scheduled for June 20th, with exchanges like Kucoin and Binance set to list the ZRO token. Major centralized exchange (CEX) listings are expected to provide liquidity and wider access to the ZRO tokens.
Pellegrino’s announcement has sparked excitement in the crypto community, with users eagerly waiting for the token claims to begin. To stay updated, users should follow official LayerZero channels for the latest on the ZRO token distribution.
About LayerZero
LayerZero is known for its innovative protocol that connects various blockchains without the need for a third party, promoting seamless cross-chain communication. The company gained significant attention last April when it raised an additional $120 million, at a $3 billion valuation, in a Series B funding round with investments from notable firms like Andreessen Horowitz and Sequoia Capital. LayerZero’s airdrop is one of the most actively farmed events in recent times.