LayerZero Labs has reopened submissions for the LayerZero Sybil Bounty with a new requirement. As of now, participants must deposit 0.5 ETH from their reward address into a specified account to be eligible for submitting reports. This deposit will be refunded after the Token Generation Event (TGE) if the report is deemed honest and successful. However, failure to adhere to submission guidelines, including fraud or plagiarism, will result in the forfeiture of the deposit.
The deposit process opened on May 25th, and the submission window will reopen on May 28th for a 48-hour period. Submissions will close on May 30th. LayerZero Labs aims to combat Sybil activity, where users manipulate multiple wallets to exploit airdrop rewards unfairly. The priority will be given to submissions on GitHub and bound addresses, with new reports evaluated on a first-come, first-serve basis. Successful reporters may receive a 10% bonus at TGE.
CEO Bryan Pellegrino revealed that over 3,000 bounty reports and 30,000 appeals were received following the latest phase of LayerZero’s airdrop. Some users even resorted to reporting their competitors’ accounts on GitHub to eliminate competition. LayerZero Labs is proactively taking steps to ensure the integrity of submissions and deter fraud activity. It’s worth noting that the information provided in this article is general market commentary and should not be considered investment advice. It is recommended to conduct one’s own research before investing.