What is Layer3? Information about L3 Token

Table of Contents

What is Layer3 Project?

Established in September 2021, Layer3 is an engaging and rewarding platform for learning and exploring the world of blockchain. Users can enjoy an unlimited educational space on topics like blockchain, NFT, metaverse, Web3, and interact with numerous potential projects to receive attractive rewards.

Layer3 offers a network of multi-level games and missions, suitable for both newcomers to the market, airdrop enthusiasts, and seasoned investors looking to discover new potential projects. The project develops a toolkit that helps projects design rewards, marketing campaigns, and education based on various on-chain and off-chain activities. Layer3 helps projects expand their user base, better reach the community, and attract more users.

What are the Product Features of Layer3?

Essentially, Layer3 operates like an advertising distribution platform, with its primary function being to generate traffic for projects. Users, motivated by the expectation of receiving airdrops or other rewards, complete various incentivized tasks posted by projects on the Layer3 platform.

By doing this, they can earn Experience Points (XP), token rewards, or corresponding NFTs. Project owners, aiming to attract customers, also collaborate with the Layer3 platform. At this point, project owners need to pay a certain fee to the platform and provide specific rewards to users.

Users are primarily motivated to engage in tasks on the platform for three reasons:

They are attracted by the airdrop rewards of the platform itself. For example, Layer3 provides token airdrops for early users and recently announced the release of its native token, L3, along with a new airdrop.
They are interested in token airdrops from the projects they interact with, such as tasks published by projects like Arbitrum. With many available projects, users may find it challenging to independently identify compliant, high-quality projects, increasing the risk of fraud. Therefore, choosing a marketing platform can be more cost-effective.
Users are driven by the rewards provided by the projects they interact with, as many projects issue corresponding interactive rewards.

Layer3 currently supports ecosystems such as Base, Arbitrum, zkSync, Solana, Op Mainnet, Scroll, and Ethereum. The platform partners with leading projects in various influential fields, including Aave and Uniswap. Projects participating in the Layer3 platform primarily aim to acquire and retain valuable users. In doing so, they incur Layer3 service fees, with the specific amount determined by the nature of the cooperation.

Team

Dariya Khojasteh: Co-Founder & CEO, graduated in Computer Science from the University of Southern California.
Brandon Kumar: Co-Founder & COO, holds a bachelor’s degree from The George Washington University.

Investors

Layer3 has successfully raised over $21 million through 3 funding rounds, with participation from several major funds and investors such as Balaji Srinivasan, ParaFi Capital, Amber Group. Specifically:

September 30, 2021: Pre-seed round, raised $2.5 million.
March 1, 2022: Seed round, raised $3.7 million.
June 12, 2024: Series A round, raised $15 million.

What is L3 Token?

After understanding what Layer3 is, let’s explore the project’s token – L3.

Basic Information about L3 Token

Token Name: Layer3
Token Symbol: L3
Blockchain: Arbitrum, Base, Optimism, …
Smart Contract: 0x1195cf65f83b3a5768f3c496d3a05ad6412c64b7 (Arbitrum)
Total Supply: 3,333,333,333 L3
Circulating Supply: 1,373,093,092

L3 Token Allocation

Community: 51% (1.69 billion L3)
Airdrop: 25% (845 million L3)
Core Contributors: 25.3% (843 million L3)
Investors: 23.2% (773 million L3)
Advisors: 0.5% (16 million L3)

L3 Token Release Schedule

Community: 51% (1.69 billion L3) 51% of the total L3 supply is reserved for the community, over a 4-year period with 40% in year 1, 30% in year 2, 20% in year 3, and 10% in year 4. 200 million L3 (6%) is the OG & S1 airdrop. 50 million (1.5%) is the S2 allocation. This entire allocation is unlocked at TGE. 25% is the initial budget allocated by the Foundation to planned airdrops and incentives. The remaining 26% will go to the community and governed by the DAO and Foundation to be allocated to future airdrops, incentives, and ecosystem initiatives over time.
Core Contributors: 25.3% (843 million L3) All tokens allocated to core contributors are subject to a 4-year lockup period. During the first year, no tokens will be unlocked. Starting in the second year, 33% of the tokens will be unlocked annually, distributed daily until the end of the 4-year period.
Investors: 23.2% (773 million L3) All tokens allocated to investors are subject to a 4-year lockup period. During the first year, no tokens will be unlocked. Starting in the second year, 33% of the tokens will be released annually, distributed daily over the next three years. This gradual release schedule reduces large supply shocks that often occur when a significant percentage of tokens become available after the first year.
Advisors: 0.5% (16 million L3) All tokens allocated to advisors are subject to a 4-year lockup period. During the first year, no tokens will be unlocked. Starting in the second year, 33% of the tokens will be released annually, distributed daily over the next three years.

What is the L3 Token Used For?

Governance.
Staking for rewards.
User incentives.
Access to new features and Layer3 launchpad.
Burning L3 to create on-chain experiences through distribution and identification infrastructure.

Roadmap

Updating

Similar Projects

Layer3 is a project in the SocialFi category, similar to Galxe, Open Campus, and others.

Project Information Channels

Website: https://layer3.xyz/
X (Twitter): https://x.com/layer3xyz
Discord: https://discord.com/invite/layer3

Conclusion

In this article, AZC.News introduced you to information about Layer3 and the L3 Token. If you have any questions, please leave them in the comments section to be answered immediately!