LayerZero: 0.5 ETH Bond for Sybil Reporting Bounties, Returnable During TGE
CryptoNewsTerminal Staff25 May, 2024
LayerZero: 0.5 ETH Bond for Sybil Reporting Bounties, Returnable During TGE
LayerZero Labs, a cross-chain messaging protocol, recently introduced a 0.5 ETH bond requirement for its Sybil (multi-account) reporting rewards program. This bond is refundable during the Token Generation Event (TGE) for good faith submissions and reports identifying actual Sybil actors. However, bonds may be forfeited if reports are found to be malicious or plagiarized. This bond requirement aims to whitelist reporters' addresses and expedite the review process for their Sybil reports on a first-come, first-served basis. Previously, LayerZero announced a bounty program offering Sybil reporters 10% of the tokens they would have received. LayerZero's Sybil reporting program is crucial for maintaining the integrity of its cross-chain network by detecting and preventing malicious actors from creating multiple accounts to manipulate the system. The addition of a bond requirement ensures that reports are made in good faith and discourages frivolous submissions.
