LayerZero Labs CEO Bryan Pellegrino recently addressed concerns regarding company employees participating in the upcoming airdrop. In a post on May 7, Pellegrino stated that all LayerZero Labs employees are strictly prohibited from taking part in the platform’s highly anticipated airdrop, first mentioned in December 2023. This restriction has been communicated internally and any violation is considered a fireable offense.

The LayerZero team disclosed the tokenomics of the ZRO token on May 1, 2023, with 25% allocated to the ecosystem fund, 19% earmarked for early adopters and users through an airdrop, including a 5% allocation for an Initial DEX Offering (IDO). Additionally, 19% will go to core contributors, 17% to investors, and 20% to Retroactive Public Goods Funding (RPGF) for projects benefiting the platform.

Following the snapshot on May 1, LayerZero is actively identifying Sybil actors who create fake accounts to exploit airdrop rewards. The company plans to launch the airdrop in the first half of 2024 after addressing security concerns. In a previous incident in July 2023, a fake LayerZero airdrop led to a phishing attack that drained user wallets, although the extent of the losses remains undisclosed.

Bitcoin’s price surged above $65k amidst a Federal Reserve report and increased ETF inflows, showcasing the ongoing growth and interest in the cryptocurrency market. For more updates and news on cryptocurrencies, continue exploring Global Crypto News.

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