LayerZero to fire employees participating in internal airdrops

Bryan Pellegrino, co-founder and CEO of LayerZero Labs, discussed concerns about the company’s employees participating in the upcoming airdrop.

In a May 7

Something will be made public about this, every LayerZero lab employee is 100% restricted from making requests and has no eligibility – this would be a fireable offense and has been made known internally for some time and always has been

— Bryan Pellegrino (臭企鹅) (@PrimordialAA) May 7, 2024

He added that the matter had already been shared within the company and was a “fireable offence”.

On May 1, 2023, the LayerZero team announced the tokenomics of the ZRO token as follows:

25% of ZRO tokens are allocated to the ecosystem fund. 19% will be airdropped to early adopters and users of the platform; this includes a 5% allocation for the Initial DEX Offering (IDO). 19% will be sent to core contributors. 17% of the tokens are allocated to investors. 20 percent is allocated to the Retroactive Public Goods Fund (RPGF), actors who have completed projects on LayerZero and have already benefited from the platform. ZRO token allocation | Source: LayerZero

After completing its snapshot on May 1, LayerZero is currently hunting down Sybil actors, which are users who create multiple fake accounts to earn more rewards from an airdrop. Notably, the company announced that its airdrop will be launched in the first half of 2024.

In July 2023, a fake LayerZero airdrop emptied user wallets in a phishing attack. The fake website stole money from crypto wallets immediately after connecting. However, the total amount of losses was not reported.