LayerZero has successfully identified over 800,000 potential Sybil addresses, marking a significant milestone in its efforts to safeguard its network from fraudulent activities. The self-reporting phase, which concluded recently, allowed users to report fake or duplicate Sybil addresses created to deceive the system. Initially, over 2 million addresses were flagged, which was later narrowed down to 803,093 potential Sybil addresses.

The self-reported addresses will receive 15% of their intended tokens, while qualified users will receive the remaining 85%. In a bid to further enhance network security, LayerZero is launching a bounty hunt from May 18 to May 31, 2024. During this period, users can identify and report suspicious activities, with a minimum requirement of 20 Sybil addresses and a clear methodology. Successful reporters will be eligible to receive 10% of the tokens allocated to the fraudulent addresses, allowing community members to earn a share of the tokens.

The initial list will be held, and the final Sybil list will be released after the bounty hunt concludes on May 31. This initiative demonstrates LayerZero's commitment to transparency and community engagement in maintaining a secure and fair ecosystem. By offering Sybil farmers the opportunity to self-report, LayerZero has taken a significant step in protecting its network from the threats of Sybil attacks, which can manipulate voting processes, token distributions, or governance mechanisms.

LayerZero's approach to network security is a testament to its dedication to integrity and transparency. By leveraging community engagement and making activities transparent, LayerZero aims to create a reliable and secure decentralized network. The self-reporting initiative and bounty hunt are significant steps towards achieving this goal, and the community looks forward to a more secure and fair ecosystem.