{"id":18364,"date":"2023-06-05T10:17:39","date_gmt":"2023-06-05T14:17:39","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/hop-protocol-rewards-sybil-hunters-with-innovative-airdrop-tool-how-does-it-work\/"},"modified":"2023-06-05T10:17:41","modified_gmt":"2023-06-05T14:17:41","slug":"hop-protocol-rewards-sybil-hunters-with-innovative-airdrop-tool-how-does-it-work","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=18364","title":{"rendered":"Hop Protocol Rewards Sybil Hunters with Innovative Airdrop Tool \u2013 How Does it Work?"},"content":{"rendered":"
\n

As Sybil farming ahead of anticipated airdrops is becoming increasingly popular in the cryptosphere, Hop Protocol is unveiling a new initiative under which it will reward Sybil hunters for their diligence in combating Sybil attackers who target such airdrops.\u00a0<\/p>\n

Sybil attacks are carried out by persons who set up numerous accounts on selected blockchain projects which are moving towards token airdrops, and subsequently attempt to collect as many tokens as possible.<\/p>\n

\u201cWhen 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,\u201d said a post on Snapshot.org, an off-chain voting platform for blockchain-focused communities.<\/p>\n

With this in mind, the protocol\u2019s community voted on proposal which seeks to reward the involved Sybil hunters with 25% of the saved tokens now, roughly a year after the DAO was launched.<\/p>\n

Community agrees to reward Sybil hunters<\/h2>\n

The results of the latest vote indicate that a vast majority of the Hop community was in favor of rewarding the hunters for their efforts. Users representing some HOP 7.4 million, or 99.48% of the total, agreed to the proposal. In contrast, users in possession of HOP 33,000, 0.45% of the total, voted against it, and those holding HOP 5,500, or 0.07%, abstained from the vote, as indicated by data released by the off-chain voting platform.<\/p>\n

\u201cBeyond the direct benefits of token recovery, the Sybil hunters also contributed to promoting the DAO in indirect ways. Both the SAFE airdrop and the Arbitrum airdrop adopted elements of Hop\u2019s airdrop design as a result of the hunters\u2019 effort and innovation, thus validating and enhancing the DAO\u2019s influence,\u201d the post said. \u201cEach of those teams specifically called out Hop as inspiration during their airdrop process.\u201d\u00a0<\/p>\n

Innovative tool to reward Sybil hunters<\/h2>\n

As a result of the latest vote, a total of 869,566.51 tokens are to be allocated to some 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 which were sent to the contract.<\/p>\n

\u201cThe contract claim start time will be Fri Jun 09 2023 10:48:36 GMT+0000, which is the same start time as all of the HOP vesting contracts created at the beginning of the DAO\u2019s lifetime,\u201d according to the post.<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

As Sybil farming ahead of anticipated airdrops is becoming increasingly popular in the cryptosphere, Hop Protocol is unveiling a new initiative under which it will reward Sybil hunters for their diligence in combating Sybil attackers who target such airdrops.\u00a0 Sybil attacks are carried out by persons who set up numerous accounts on selected blockchain projects […]<\/p>\n","protected":false},"author":1,"featured_media":18365,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-18364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nHop Protocol Rewards Sybil Hunters with Innovative Airdrop Tool \u2013 How Does it Work? | iFintechWorld<\/title>\n<meta name=\"description\" content=\"As Sybil farming ahead of anticipated airdrops is becoming increasingly popular in the cryptosphere, Hop Protocol is unveiling a new initiative under\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=18364\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hop Protocol Rewards Sybil Hunters with Innovative Airdrop Tool \u2013 How Does it Work? 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