ZkSync Faces Criticisms For Anti-Sybil Measures In Token Distribution

zkSync is attracting criticism from across the industry. Many are saying that the layer-2 scaling solution based on Ethereum lacked sufficient measures against Sybil attacks. Allegations have come at a time when zkSync has its focus on token airdrop. The allegation is that while it has listed seven criteria, they are easy to miss by legitimate users and easier to notice by Sybil attackers.

Critics go on to state that multiple wallets may end up accumulating the zkSync tokens unfairly. In other words, those who should be getting their share of tokens may ultimately be deprived of the privilege because zkSync lacks anti-Sybil measures.

Such criticisms started coming on June 11, 2024, when Mudit Gupta voiced his concern. The Chief Information Officer at Polygon did not hesitate to define the airdrop process of zkSync as the most farmable and farmed. Adam Cochran from Cinneamhain Ventures mentioned the eligibility criteria as the root cause. Adam has said that Sybil attackers could easily target those criteria for an unfair token collection.

Cochran clarified that he does have a lot of love for the zkSync team but such a plan for token airdrop goes against the kind of perspective the market has for them.

Ignas, a DeFi researcher, believes that zkSync is deliberately avoiding taking stern measures against Sybils, adding that there is a potential for the exclusion of genuine users via arbitrary filters. Nansen, a crypto analytics firm, has clarified its role by highlighting that it has only provided data on specific wallet segments. This includes known scammers and whales, adding that they have not conducted anti-sybil checks.

It is now estimated that at least 135 million ZK tokens, worth approximately $50 million, could end up in Sybil wallets. Sybil Horror 6, a Sybil tracking X account, has published this number. Sybil Horror 6 and the community members hope that zkSync will revise its eligibility criteria and remove Sybils from the process.

Criticisms like these challenge the fairness of token distribution and further highlight the importance of taking measures against Sybils to prevent potential attacks that affect genuine users.

The development comes after reports that zkSync is expected to airdrop almost 3.68 million tokens to 695,232 wallets in the coming week. This roughly translates to 17.5% of the total supply. Eligibility is said to be dependent on members’ interaction with zkSync Era plus Lite networks ahead of the snapshot date. Every eligible wallet can receive a maximum of 100,000 ZK tokens.

The remaining portion of the supply after the airdrop will support native projects, builders, and on-chain communities hosted by the zkSync ecosystem.

RECENT NEWS

Ether Surges 16% Amid Speculation Of US ETF Approval

New York, USA – Ether, the second-largest cryptocurrency by market capitalization, experienced a significant surge of ... Read more

BlackRock And The Institutional Embrace Of Bitcoin

BlackRock’s strategic shift towards becoming the world’s largest Bitcoin fund marks a pivotal moment in the financia... Read more

Robinhood Faces Regulatory Scrutiny: SEC Threatens Lawsuit Over Crypto Business

Robinhood, the prominent retail brokerage platform, finds itself in the regulatory spotlight as the Securities and Excha... Read more

Ethereum Lags Behind Bitcoin But Is Expected To Reach $14K, Boosting RCOF To New High

Ethereum struggles to keep up with Bitcoin, but experts predict a rise to $14K, driving RCOF to new highs with AI tools.... Read more

Ripple Mints Another $10.5M RLUSD, Launch This Month?

Ripple has made notable progress in the rollout of its stablecoin, RLUSD, with a recent minting of 10.5… Read more

Bitcoin Miner MARA Acquires Another $551M BTC, Whats Next?

Bitcoin mining firm Marathon Digital Holdings (MARA) has announced a significant milestone in its BTC acquisition strate... Read more