Layer3 To Launch L3 Token This Summer, Allocating 51% Of Total Supply To Community
In Brief
Layer3 will introduce its L3 token this summer, allocating 51% of the total token supply, which is set at 300 million, to the community.
Distribution and identity protocol, Layer3 announced it intends to introduce its token L3 this summer, allocating 51% of the total token supply, which is set at 300 million, to the community. Further details regarding the tokenomics will be unveiled in June 2024. The Token Generation Event (TGE) is scheduled to commence later in summer.
The initial airdrop is set to distribute 5% of the total L3 supply to early adopters and CUBE minters. The Genesis airdrop snapshot was captured for early users and season 1 participants at 2:00 PM UTC on May 10th. Additional airdrops are planned, with further information forthcoming.
Users eligible for the initial community supply can verify their eligibility on the Layer3 Foundation webpage. Notifications will be sent out upon the allocation checker and claim submission tools availability.
The L3 utility encompasses various features such as staking for earning the L3 incentives, reward multipliers, tiered experiences, an opportunity to join the Layer3 launchpad. Additionally, users can burn L3 to create on-chain experiences via distribution and identity infrastructure, and take part in governance over specific areas of Layer3 protocols. The community, supported by the Layer3 Foundation, will control important decisions governed by L3 holders and contribute to the development of the ecosystem.
Keep track of cryptocurrency distributions in our Airdrops Calendar.
What Is Layer3?
Layer3 is an innovative distribution and identity protocol designed to unlock the $1 trillion ‘attention’ market. Its primary goal is to establish a fluid market for attention, considered the internet’s most valuable resource, utilizing a unique identity and incentive infrastructure. Layer3 stands out as the sole omnichain identity and earning solution spanning across Ethereum Virtual Machine (EVM), Solana, and Cosmos networks.
Since its inception, the protocol has enabled more than 96 million interactions spanning 545 ecosystems, engaging community members from nearly 150 countries.
Recently, Layer3 underwent an audit of its protocol by the blockchain engineering and auditing firm Three Sigma. Moreover, the project collaborated with Mode to retroactively award users who explored its collection with $50,000 rewards.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
