Layer3 has announced that it will launch its governance and utility token, $L3, with an initial launch scheduled for this summer. Posted on.
According to the protocol, the total supply consists of: Of the 300 million tokens, 51% will be allocated to Layer3 community members. Layer3 Foundation plans to release detailed token economics in June 2024.“Holders can participate in governance regarding specific aspects of the protocol as well as stake to access enhanced utility across products built on top of the protocol, including incentives in eligible circumstances,” Layer3 said. Blog post.
According to Layer3, “The initial airdrop will distribute 5% of the total $L3 supply to early adopters and CUBE miners.” “There will be multiple airdrops, with more details to come,” the post said.
CUBE (Credential to Unify Blockchain Events) is an ERC-721 token created by completing “unique interactive on-chain experiences” that Layer3 calls “quests,” according to its website.
The protocol aims to decentralize the “market of interest” that Layer3 values at $1 trillion. According to Layer3, this has facilitated 96 million interactions across more than 500 ecosystems.
“The opportunities to enable crypto-attention and identity infrastructure are vast,” said Layer3, which aims to power identity and revenue infrastructure for both human and AI agents as millions of ecosystems adopt token-based distribution models. said.
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