LayerZero Labs co-founder Bryan Pellegrino confirmed that project employees will not receive the upcoming ZRO token distribution.
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
“I will announce this publicly, every LayerZero Labs employee is 100% restricted from claiming and has no eligibility [for the airdrop],” he wrote.
According to him, such actions within the company are considered a “serious offense.” This point has been repeatedly discussed with team members.
Pellegrino clarified that even employees holding certain NFT collections like Pudgy Penguins will not be eligible for the drop.
In December 2023, the omnichain protocol LayerZero announced the distribution without revealing further details. On May 1, 2024, developers took a snapshot.
More information coming soon. pic.twitter.com/NyMpJFVg9S
— LayerZero Labs (@LayerZero_Labs) May 2, 2024
On May 3, the project team announced efforts to combat airdrop hunters creating multiple accounts to increase profits.
We believe it is in the protocol’s best interest to distribute tokens to durable users — not sybil farmers.
If you are a sybil, you have two options:
– Self-report sybil addresses for 15% of your intended allocation. No questions asked. The deadline to do so is May 17th.
– Do… pic.twitter.com/Kme9ZKckC7
— LayerZero Labs (@LayerZero_Labs) May 3, 2024
The company offered two options for “sybils”: disclose their actions to receive 15% of the reward, or do nothing and risk being identified by the security system and missing out on the drop. Reports of improper farming must be submitted by May 17.
Back in April 2023, LayerZero Labs raised $120 million in a Series B funding round, valuing the company at $3 billion.