Sybil Attack
Creating multiple fake identities to gain disproportionate influence or rewards in a system.
In-Depth Explanation
In crypto, sybil attacks often target airdrops—one person creates hundreds of wallets to farm multiple allocations. Protocols combat sybils through on-chain analysis, social verification, and identity systems. The arms race between sybil attackers and detection continues. Named after the book/film about dissociative identity disorder.
Related Terms
More in Tokenomics
View all →Emissions
New tokens distributed by a protocol as incentives, typically to liquidity providers or users.
Liquidity Mining
Earning token rewards by providing liquidity to a DeFi protocol.
Token Buyback
When a protocol uses revenue to purchase its own token from the open market, reducing circulating supply.
Dividend
Direct distribution of protocol revenue to tokenholders, typically in ETH, stablecoins, or the protocol's native token.