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Recently, I came across paper Portfolio Optimization via Quantum Zeno Dynamics on a Quantum Processor. In the paper, a new approach to optimization with QAOA is introduced. Instead of employing a penalization function for introduction of constraints to QUBO, Zeno dynamics is used. Under "Zeno" settings, part of a quantum state is "frozen" by high frequency measurement and the quantum state repeated reconstruction. As a result, part of Hilbert space where possible solution of an optimization problem lies is inaccessible. This is equivalent to imposing constraints on the solution. The authors showed that this approach is more effective than the penalization.

I tried to Google implementation of this method, however, without any success. Is anybody aware about Qiskit source code for this "Zeno QAOA"?

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The term that you are looking for is "quantum zeno effect" or "quantum zeno dynamics". As far as I know, there are not quantum zeno effect experiments implemented in Qiskit (yet).

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