LayerZero CEO: Transactions of less than 5 times from 3 million wallets will be reduced by 80% in weight for transactions under one dollar

PANews reported on June 11 that Bryan Pellegrino, co-founder and CEO of LayerZero, shared their extensive considerations for user eligibility on Twitter. Pellegrino stated that their goal is to ensure real users can obtain the fairest and most widespread distribution, with particular attention paid to highly aligned and enduring user groups.

According to Pellegrino's tweet, there are currently 6 million initial wallets, of which 3 million have fewer than five transactions. Therefore, only these 3 million wallets are actually considered. All transactions valued at less than $1 will be reduced by an 80% weight but still count as one-fifth of a normal transaction. All "worthless NFT" transactions will also be reduced by an 80% weight but still count as one-fifth of a normal transaction (in this case worthless is defined as listed value below 0.00001 ETH or extremely low trading volume). These measures address the majority of inorganic network spam issues which largely disappear after snapshotting.

In addition, Pellegrino mentioned that Gas-Drop counts as valid transactions and standardizes them according to specific protocol fees rather than the fees from the underlying blockchain where the transaction takes place. The minimum and maximum values will serve as eligibility criteria; early adopters, long-term users, liquidity providers etc., will receive rewards with the aim being achieving fairer and optimal protocol distribution.