LayerZero Fought the Sybils and Airdropped Its Token. Did the Team Win? - Ep. 664
LayerZero’s token claims went live on Thursday, and as with every recent airdrop, there was plenty of controversy.
In this episode, Bryan Pellegrino, cofounder and CEO of LayerZero Labs, joined to discuss their ambitious anti-Sybil campaign and the subsequent token distribution. He delved into the challenges of ensuring genuine user participation, the decision to offer a self-report option for Sybil attackers, and the complexities imposed by industrial-grade farmers. Bryan shared what he would have done differently and why a mandatory donation to Protocol Guild was imposed.
Also, are airdrops dead? How can the industry improve this not-so-effective distribution method?
Show highlights:
- 00:00 Intro
- 01:23 Why LayerZero launched an anti-Sybil campaign with its airdrop, and what challenges they faced in ensuring genuine user participation
- 04:51 Why LayerZero offered a self-report option for Sybil attackers, and how this strategy revealed both the complexities and the creativity within the crypto community
- 10:16 How the anti-Sybil campaign uncovered over a million fraudulent accounts
- 14:34 What Bryan would have done differently in their campaign
- 17:18 What alternative methods, such as KYC and proof-of-humanity protocols, LayerZero could have used for their anti-Sybil campaign
- 18:35How LayerZero navigated the cat-and-mouse game with industrial airdrop farmers
- 23:08 Why they decided to impose a donation to Protocol Guild to claim the ZRO token
- 32:07 What caused the dramatic drop in LayerZero's activity post-announcement of their anti-Sybil campaign, and why the team is optimistic despite the decline
- 35:23 LayerZero's plans for future airdrops
- 38:40 What Bryan thinks the future holds for airdrops in crypto, and how the current broken system can be improved to achieve better distribution and user engagement
- 42:43 Crypto News Recap
Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com
Thank you to our sponsors!
Guest
Bryan Pellegrino, cofounder and CEO of LayerZero Labs
Learn more about your ad choices. Visit megaphone.fm/adchoices