Bittime – LayerZero Foundation, which powers the LayerZero cross-chain interoperability platform, has launched a tool for users to verify their eligibility for upcoming token airdrops. The new feature allows users to not only check their airdrop eligibility but also provides a summary of their activity on the platform, such as start date and total transaction amount. The announcement was made by Bryan Pellegrino, CEO of LayerZero Labs.
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Total Wallets that Meet Airdrop Eligibility
According to Pellegrino, a total of 1.28 million wallets are eligible for the airdrop. The LayerZero Foundation had previously hinted at the airdrop in their first social media post, which featured the date “06.20.2024” on a white background, indicating the airdrop would occur on that date.
More Details About Airdrop by Pellegrino
Over the weekend, Pellegrino shared more details about the airdrop, revealing that 23.8% of the total supply of 1 billion tokens will be distributed directly to the community and builders.
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The Next 36 Months is the Token Distribution Period for the Community
On the first day of distribution, 8.5% of the tokens allocated to the community will be released. The majority of the remaining tokens will be distributed over the next 36 months, with additional retroactive distributions every 12 months and a future-oriented request for proposals (RFP) aimed at builders.
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LayerZero Prevents Sybil for Airdrop Eligibility
In preparation for the airdrop, LayerZero has stepped up their efforts to prevent Sybil attacks, which involve creating many fake accounts to claim a larger share of the distributed tokens. Their anti-Sybil strategy includes a bounty hunter program and a self-reporting system. The system encourages honesty by offering 15% of the intended token allocation to whistleblowers, while those who fail to report will not receive any tokens.
This approach contrasts with ZKsync, another platform that faced community criticism for its lack of anti-Sybil action during their recent airdrop.
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LayerZero Successfully Secures Extra Large Funding!
LayerZero Labs, the core developer of the protocol, successfully secured $120 million in a Series B funding round in April 2023, reaching a valuation of $3 billion. This funding is expected to further support platform development and growth initiatives.
Cara Beli Crypto di Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed your identity verification. Also, make sure you have sufficient balance by depositing some funds into your wallet. Just so you know, the minimum asset purchase on Bittime is IDR 10,000. After that, you can make crypto asset purchases in the application.
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is for informational purposes only and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly over time and Bittime is not responsible for changes in the fluctuation of crypto asset exchange rates.
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