- Layer3 declared that it will introduce $L3, its governance and utility token, this summer. An initial 5% reduction in the total supply is planned.
According to a post on X, Layer3 stated that it will launch its governance and utility token, $L3, with an initial drop scheduled for this summer.
According to the protocol, the Layer3 community will receive 51% of the 300 million tokens that make up the overall supply. In June 2024, the Layer3 Foundation will release comprehensive tokenomics,” the protocol added.
According to a blog post by Layer3, holders will be able to take part in governance pertaining to certain features of the protocol as well as staking to gain access to greater utility across products created on top of the protocol, including incentives, when appropriate.
Early adopters and CUBE minters will receive 5% of the entire $L3 supply in the first airdrop, according to Layer3. The article also stated that there will be several airdrops and that further information will be released soon.
According to Layer3’s website, CUBEs, or Credential to Unify Blockchain Events, are ERC-721 tokens that are created by finishing “unique, interactive onchain experiences” (referred to as “Quests”).
Layer3 assesses the “attention market” at $1 trillion; the protocol seeks to decentralize it. Over 500 ecosystems and 96 million interactions have been made possible, according to Layer 3.
According to Layer3, which intends to power the identity and earning infrastructure for both humans and AI agents as millions of ecosystems adopt token-based distribution models, there is a vast opportunity to enable cryptonative attention and identity infrastructure.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
