Bittime -The leading company in the field of omnichain interoperability,LayerZero Labstoday, Saturday (04/05/24), has announced the Sybil "self-reporting" program to ensure fair and equitable distribution of tokens to its users.
The self-reporting program will give Sybil users the opportunity to report themselves within 14 days and receive 15% of their due token allocation.
6 Million Unique Wallet Addresses on LayerZero
Since launching more than two years ago, LayerZero has experienced rapid growth and attracted nearly 6 million unique wallet addresses.
In distributing its tokens, LayerZero is committed to rewarding long-term users who have contributed to the growth and success of the platform.
However, LayerZero is also aware of the potential for abuse of the system by Sybil users , namely those who use multiple wallet addresses to cheat the system and obtain more tokens. To address this, LayerZero launched the Sybil "self-reporting" program.
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How Does the Sybil "Self-Reporting" Program Work?
Sybil users can report themselves by visiting the website sybil.layerzero.network and connecting the wallet associated with their Sybil activity.
After that, they need to sign the message to prove ownership of the address and repeat this process for all their Sybil addresses.
Sybil users who self-report within 14 days will receive 15% of the token allocation they are entitled to.
After the 14 day period, LayerZero will publish a list of all identified Sybil users who have not self-reported. Users registered in this list will not receive any tokens.
Bounty Program "Self-Reporting" to Report Sybil Activities
In addition to the "self-reporting" program, LayerZero also launched a bounty program to encourage users to report Sybil activity in detail. Successful reporters will receive 10% of the token allocation that Sybil users should receive.
LayerZero Goals
LayerZero's main goal is to reward long-term users who have contributed to the growth and success of the platform.
Sybil's “self-reporting” program and bounty program are important steps to ensure fair and equitable distribution of tokens and to create a stronger, more sustainable LayerZero ecosystem.
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Conclusion
Sybil's "self-reporting" program and LayerZero's bounty program are positive steps to ensure fair and equitable distribution of tokens to its users. This program shows LayerZero's commitment to creating a transparent and responsible ecosystem.
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How to Buy Bitcoin (BTC) on Bittime
You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Bitcoin (BTC) is available on Bittime with the market pair BTC/IDR . To be able to buy BTC/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Bitcoin (BTC) on Bittime.
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 informational in nature and is not an offer or solicitation 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 from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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