LayerZero Foundation, the backbone of the LayerZero cross-chain interoperability platform, has launched an eligibility checker for its upcoming token airdrop, marking a significant step in its community engagement strategy.

According to Bryan Pellegrino, CEO of LayerZero Labs, users can now verify their eligibility for the airdrop and review their activity summary, including start date and transaction history on the platform. The initiative aims to ensure transparency and inclusivity as the foundation prepares to distribute tokens to its community.

A total of 1.28 million wallets have been identified as eligible for the airdrop, underscoring the broad participation anticipated from LayerZero’s user base. The foundation had previously hinted at the airdrop claim date through its inaugural social media post, featuring a stark message of "06.20.2024," signaling the imminent distribution.

Detailing the airdrop mechanics, Pellegrino disclosed that 23.8% of the total 1 billion token supply will be allocated directly to community members and developers. The distribution will commence with an initial release of 8.5% on the first day, followed by phased distributions over the next 36 months. Additionally, retroactive distributions every 12 months and requests for proposals (RFPs) for developers further highlight LayerZero’s commitment to fostering its ecosystem.

In preparation for the airdrop, LayerZero has implemented robust anti-Sybil measures to safeguard the distribution process against fraudulent activities like Sybil attacks. These measures include a bounty hunter program to identify and mitigate fake accounts and a self-reporting system incentivizing honest participation. Notably, participants who fail to self-report accurately risk forfeiting their token allocation entirely, ensuring fairness across the distribution.

LayerZero Labs, the core developer behind the LayerZero protocol, achieved a significant milestone in April 2023 with a $120 million Series B funding round, valuing the firm at $3 billion. The funding underscored investor confidence in LayerZero’s vision and technological advancements in cross-chain interoperability.

As LayerZero gears up for its token distribution event, the foundation remains committed to enhancing user engagement and advancing its interoperability solutions within the blockchain ecosystem.