LayerZero Labs

LayerZero Labs: The deadline for submitting feedback on the Protocol RFP TGE allocation is June 1

ChainCatcher news, LayerZero Labs has released a reminder on social platforms regarding the Protocol RFP: all projects that deployed OApp, OFT, or ONFT contracts on the mainnet before Snapshot #1 are eligible to submit proposals for feedback on the Protocol RFP. The deadline for submitting feedback regarding TGE allocations is May 31st, 23:59 UTC (June 1st, 7:59 Beijing time).ChainCatcher previously reported that LayerZero Labs released the "Protocol RFP" proposal in the community, marking the first step in finalizing TGE allocations.It stated that developers are the lifeline of LayerZero, and this RFP allows each project to establish its own allocation standards based on its overall token distribution. Additionally, LayerZero requires each team to provide developer addresses to ensure that the development team directly receives 10% allocated to developers.The proposal indicates that all projects that deployed OApp, OFT, or ONFT contracts on the mainnet before Snapshot #1 and declared them on LayerZero Scan are eligible to submit proposals. An example of project allocation is: 50% allocated to users of cross-chain OFT, 20% allocated to LPs, 15% allocated to token holders, and 15% allocated to community members. Meanwhile, the LayerZero Foundation will filter based on the final witch report, and witch addresses will automatically be disqualified from allocations.

LayerZero Labs: The self-reporting phase for witches has ended, with an initial determination of 803,093 addresses as potential witches

ChainCatcher news, LayerZero Labs posted on the X platform stating that the self-reporting phase for witches has now ended. Each eligible address will receive 15% of its expected token allocation, while the remaining 85% will be returned to qualified users. A total of 803,093 addresses have been identified as potential witch addresses.The team initially marked over 2 million addresses as potential witches but later adopted stricter criteria to reduce false positives.A complete list of self-reported addresses, along with address information identified in preliminary analyses conducted by LayerZero, Chaos Labs, and Nansen, has been published. Please note that this list is preliminary and is intended to remove a large number of addresses from bounty-hunting eligibility; it should not be considered definitive information before the final report is released. For example, relevant addresses may be removed from the witch list when the official calculation method is updated.The team will continue to refine and improve the methodology during the bounty-hunting process over the next two weeks. The initial list will not be updated during this period and will not affect bounty hunters. The final witch list will be published after the bounty-hunting concludes on May 31.

OKX Web3 Wallet Mobile Head Felix Fan: Taking on the Role of Industry Builder and Innovation Leader

ChainCatcher news, Felix Fan, the head of the OKX Web3 wallet mobile team, stated during his keynote speech at the Ethereum Singapore 2023 conference that blockchain technology is one of the most distinctive innovations in the fintech sector, providing a variety of decentralized application solutions for asset storage, circulation, and appreciation.On this basis, the OKX Web3 wallet is actively innovating technology and firmly implementing user experience, having completed deep integration with over 70 public chains, automatic recognition of popular cryptocurrencies, and consistently keeping up with on-chain trends. In addition, the OKX Web3 wallet strengthens security for users through packaged security solutions such as the KYT on-chain eye database, automatic detection of suspicious domains, and blocking malicious airdrop NFTs. By actively building and embracing Vitalik's vision and blueprint for a decentralized society, it has taken the lead in promoting the implementation and application of AA technology on the OKX Web3 wallet, thereby simplifying on-chain transaction steps and achieving innovations like one-click authorization + transaction and multi-currency payment for GAS.In the future, the OKX Web3 wallet will continue to promote the realization and application of blockchain technology through more convenient tools and infrastructure, taking on the role of an industry builder and innovation leader.It is reported that many heavyweight guests, including the Ethereum Foundation, Vitalik Buterin, KPMG, Google Cloud, Circle, Huawei, Matter Labs, Scroll, Coinbase, MakerDAO, Pendle Finance, Zksync, Arbitrum, and LayerZero Labs, will also attend this conference.

FTX sues LayerZero Labs to recover $86 million transferred on the eve of bankruptcy

ChainCatcher news, according to The Block, FTX, led by CEO John Ray III, is suing LayerZero Labs to recover $86 million transferred just before its bankruptcy. The lawsuit primarily concerns a transaction made by former Alameda Research CEO Caroline Ellison on November 7, 2022 (four days before filing for bankruptcy) with LayerZero Labs. As part of the deal, Alameda agreed to sell its 5% stake in LayerZero (valued at $150 million based on LayerZero's current valuation) in exchange for LayerZero waiving a $45 million loan provided to Alameda.The lawsuit claims that at the time of the transfer, FTX was already insolvent, and therefore these transactions constitute fraudulent activity under bankruptcy law and should be rescinded. Alameda also agreed to sell 100 million Stargate (STG) tokens to LayerZero for $10 million. The company had paid $25 million earlier that year to purchase these tokens. The lawsuit states that although LayerZero Labs made efforts to regain control of the tokens by reissuing them to a wallet controlled by the company, the transaction was never completed and was later halted due to the threat of FTX property litigation.The lawsuit also seeks to recover the withdrawals made by LayerZero and its former COO Ari Litan from the FTX.com and FTX.US exchanges within 90 days prior to FTX's bankruptcy filing. During this period, LayerZero withdrew $21 million from its account on FTX.com, of which about $16 million was withdrawn by the end of October (before FTX's issues became widely known). The lawsuit notes that the remaining $5 million was withdrawn on November 7, the same day LayerZero made a repayment. Additionally, the lawsuit names Litan as a defendant and questions approximately $19.6 million withdrawn from the FTX.US account just days before FTX filed for bankruptcy, with these withdrawals made in Litan's name and under his limited liability company Skip & Goose.
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