Bryan Pellegrino, the co-founder and CEO of LayerZero Labs, talked about worries regarding employees taking part in the company’s upcoming airdrop.
In a recent post on May 7, Pellegrino stated that all LayerZero Labs employees are completely prohibited from joining the platform’s highly anticipated airdrop, which was initially discussed in December 2023.
LayerZero Labs Tokenomics and Airdrop Announcement
Will announce something publicly about this, every LayerZero labs employee is 100% restricted from claiming and has no eligibility — it will be a fireable offense and has been announced internally for some time and has always been the case
— Bryan Pellegrino (臭企鹅) (@PrimordialAA) May 7, 2024
Bryan Pellegrino, the co-founder and CEO of LayerZero Labs, emphasized that internal participation in the platform’s upcoming airdrop is strictly prohibited and could lead to termination. This directive has been communicated within the company as a serious offense.
On May 1, 2023, the LayerZero team unveiled the tokenomics of the ZRO token. According to the announcement:
- 25% of ZRO tokens are allocated to the ecosystem fund.
- 19% will be airdropped to early adopters and users of the platform, including a 5% allocation for an Initial DEX Offering (IDO).
- 19% will be distributed to core contributors.
- 17% of tokens are allocated to investors.
- 20% is designated for Retroactive Public Goods Funding (RPGF), benefiting actors who have completed projects on LayerZero.
ZRO token allocation | Source: LayerZero
LayerZero’s Efforts to Combat Sybil Actors and Past Airdrop Scam
LayerZero recently conducted a snapshot on May 1 and is currently actively seeking out Sybil actors—users who create multiple fake accounts to exploit airdrop rewards. The company is taking measures to ensure the integrity of its airdrop process, particularly after announcing the launch of the airdrop in the first half of 2024.
In July 2023, LayerZero encountered a fraudulent incident involving a fake airdrop. The scam targeted users through phishing attacks, resulting in drained crypto wallets. The fraudulent website siphoned funds immediately upon user connection, although the total extent of the losses remains undisclosed.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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