Layer3, a leading blockchain protocol, has announced the launch of its governance and utility altcoin L3, with the first airdrop scheduled for early summer. The announcement was made in a recent post on the company’s official blog.
The protocol announced that the total supply of the new token will be 300 million and 51% of these tokens will be allocated to Layer3 community members. Detailed tokenomics will be published by the Layer3 Foundation in June 2024.
L3 token holders will have the opportunity to participate in governance decisions regarding certain aspects of the protocol. They will also be able to stake their tokens to access advanced services on products built on top of the protocol, including incentives where appropriate.
The first airdrop will distribute 5% of the total L3 supply to early adopters and CUBE (Credentials for Unifying Blockchain Activities) miners. These will be ERC-721 tokens minted by completing unique, interactive on-chain experiences that Layer3 calls “Tasks.”
The company also hinted that there will be multiple airdrops in the future and more details will be announced soon.
*This is not investment advice.
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