Magic Square Introduces AutoLayer As New Road-to-IDO Project, and Offers $200,000 In LAY3R Tokens Prize Pool With Extra $100,000 IDO Whitelists
In Brief
Magic Square has launched the Road-to-IDO with AutoLayer, offering $200,000 in LAY3R rewards, along with $100,000 in initial IDO allocations.
The Web3 application marketplace Magic Square (SQR) announced the start of its second Road-to-IDO campaign and introduced its next project, AutoLayer, a Liquid Restaking Token (LRT) Finance application. The new campaign will offer a total prize pool of $200,000 in LAY3R tokens, along with an additional $100,000 worth of LAY3R tokens in initial DEX offering (IDO) allocations. The campaign is currently underway, with the IDO and the TGE expected to take place in mid-June 2024.
The Road-to-IDO campaign aims to incentivize users by awarding points for the engagement within the protocol’s community leading up to each project’s IDO launch.
Participants in this initiative not only stand a chance to secure a portion of the prize pool but are also assured of additional allocations in the forthcoming AutoLayer IDO on the Magic Launchpad, the new IDO platform. Comprehensive details regarding participation will be made available shortly.
To take part, users are advised to sign up for a Magic Store account, add an EVM Wallet to MagicID, create a username, and undergo email verification, as well as proof-of-humanity verification. Subsequently, they can visit the campaign page to fulfill the required tasks. Claiming will be facilitated directly through the Magic Launchpad account.
Rewards will be allocated based on participant rankings, with individuals receiving a portion of the overall prize, as well as rewards in LAY3R Tokens and Raffle Tickets for the IDO. Raffle victors will gain entry to an IDO pool. Active engagement and increased participation levels can enhance users’ opportunities to accumulate more LAY3R tokens. Top performers will secure an exclusive whitelist spot in the AutoLayer IDO hosted on the Magic Launchpad.
What Are AutoLayer And LAY3R?
AutoLayer is a Liquid Restaking Tokens (LRT) finance application on the Arbitrum network. It facilitates an entry to a variety of assets, liquidity pools, farms, and vaults/strategies. Specifically, the platform supports approximately 800 assets, 400 liquidity pools, 50 farms, and over 100 vaults/strategies. The primary focus of AutoLayer is optimizing LRT, Liquid Staked Tokens (LST), AVSs, operators, and incentives.
The LAY3R token is a versatile ERC-20 utility token with a polyhedric design. The total supply is capped at 32,000,000 tokens. The AutoLayer token plays a vital role in the ecosystem of decentralized applications (dApps), increasing in value as the user base grows and providing rewards to its holders.
Disclaimer
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, 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 cryptocurrency, zero-knowledge proofs, 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.
