Hop Protocol’s Innovative Airdrop Tool Rewards Sybil Hunters. How it Works?
The practice of Sybil farming ahead of anticipated airdrops is becoming increasingly popular in the cryptocurrency community. In response, Hop Protocol has announced a new initiative to reward Sybil hunters for their efforts in combating Sybil attackers who target airdrops. Sybil attacks are carried out by individuals who create numerous accounts on selected blockchain projects that are moving towards token airdrops and then try to collect as many tokens as possible.
“When the Hop DAO was launched, Sybil hunters submitted reports that ultimately removed Sybil attackers from the HOP airdrop, resulting in the DAO keeping almost 3.5 million tokens that would have otherwise been in the hands of Sybil attackers,” said a post on Snapshot.org, an off-chain voting platform for blockchain-focused communities.
The community of Hop Protocol voted on a proposal to reward the Sybil hunters with 25% of the saved tokens. The latest vote results indicate that the majority of the Hop community was in favor of the proposal. Users representing 99.48% of the total agreed to the proposal, while users in possession of 0.45% of the total voted against it, and those holding 0.07% abstained from the vote.
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As a result of the vote, a total of 869,566.51 tokens are to be allocated to 35 recipients. The selected token distribution method will see the DAO send the earmarked funds to an OpenZeppelin PaymentSplitter contract which allows the addresses to claim the due tokens that were sent to the contract.
