According to news from Foresight News, the Layer3 token distribution protocol recently announced the tokenomics of the L3 token.
According to the project's documents, L3's total supply will be 3,333,333,333 tokens. Among them:
51% (L3 1.69 billion) goes to the community
25.3% (843 million L3) goes to major contributors
23.2% (773 million L3) for investors
0.5% (16 million L3) for advisors.
Besides, the Layer3 Foundation said that 7.5% of the total L3 supply will be released at the time of TGE. Specifically:
200 million L3 (6%) for OG users and S1 reward program participants: These are users who have been involved in the project since the early days and contributed to the initial development of Layer3.
50 million L3 (1.5%) for S2 reward program participants: This group will receive a smaller amount of tokens than the OG and S1 groups but still plays an important role in the community.
Layer3 said the snapshot for OG and S1 users was taken on May 10, 2024. Meanwhile, the snapshot for S2 users will be taken on July 22.
Tokenomic of Layer3
Layer3 is a multi-level Web3 discovery platform that allows projects to distribute their tokens to attract and retain users. This protocol provides a unique experience and simplifies learning Web3 features or applications through tasks.
In addition, Layer3 is developing a new protocol integrated with artificial intelligence (AI) to optimize token distribution strategies for users through this platform, expected to launch later this year.
On June 13, Layer3 announced it raised $15 million in Series A, led by ParaFi and Greenfield Capital, with participation from Electric Capital, King River, Tioga Capital and several investment funds. other. In addition, this funding round also has the participation of angel investors from LayerZero and famous individuals from other projects such as COO Coinlist - Scott Keto, CTO Dune - Mats Olsen.
With the capital raised, Layer3 plans to expand the team from 13 people to 20 people by the end of this year. The project also plans to expand operations to the Asia-Pacific (APAC) region.
Layer3 also revealed two previous investment rounds, with 3.7 million USD from the strategic round in 2022 and 2.5 million USD from the Seed round in 2021. With this Series A round, Layer3's total capital raised after 3 rounds of capital calling is 21.2 million USD.