L3 is the fuel that keeps the Layer3 protocol running. The native token connects the network's partners and users. Products on Layer3 from various partners are available to $L3 token holders. Your job is to engage as necessary. For example, you can take quizzes on NFTs. The idea is to drive interactions, which help to retain users. If you prefer early adoption for crypto, then $L3 is a good bet. The token generation event (TGE) for Layer3, which aimed to release 15 million of the token's total supply, took place this summer.
A Bit About Layer3
It's the token that powers the Layer3 protocol. The Layer3 distribution network helps other projects attract and retain users by allowing them to distribute their tokens. Partners create quests, social tasks, and on-chain activities to reach new audiences. It's one of the burn mechanisms the token provides. Apart from deploying incentives, communities and users can burn $L3 to access CUBE credentials, which help tailor rewards for certain users. $L3 gives access to the protocol's governance layer. It also allows participation in quizzes, races, and other tasks. As a token holder, you get launchpad access for the project, which means being among the first to participate in upcoming events.
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You are not alone if you have never heard of Layer3 and $L3. The protocol and its mode of operation are novel to most people. The Layer3 token opens doors to this unique ecosystem, enabling you to take advantage of the benefits it offers. Staking is $L3's primary use. Through layered staking, your Layer3 (L3) can earn other governance tokens, such as ARB and OP. Additionally, you can burn $L3 in exchange for perks from the varied partners on the network. The Layer3 token runs on the Ethereum Mainn
Utility of Layer3?
By now, you can tell the Layer3 token is not the same as other popular coins. It works differently. Therefore, expect something a little out of the ordinary in terms of use cases. Not too much, though. After all, it's still a crypto token.
One way $L3 is similar to other tokens is that it lets you join the community and be part of the decision-making process. Owning Layer3 tokens allows you to participate in community governance. What exactly does that entail? Well, you can vote on some of the decisions impacting the project. This process is three-phased. It involves forum discussions, tally token holder voting and finally, the security council review and execution. Check out the Layer3 L3 whitepaper to understand better how to capitalize on your voting rights.
You can multiply your tokens through staking by earning rewards. The most common option is to lock your assets for a period and wait for the yields. Staking for a longer time frame guarantees a higher APY. Layer3 allows you to have multiple stakes. Yes, you can stake your $L3 in different batches, at any one time. For example, you can have 5, 000 tokens for 1 year and 10,000 tokens for 2 years, with each stake generating individual rewards.
Layer3 goes on to offer another passive income alternative you might want to try - layered staking. You can maximize the token utility by actively using $L3 while staking. It's one of the protocol's USP. The first layer is where you earn passively. In the second layer, you can earn exclusive quests from Layer3 and its partners. You can join special races available in different tiers according to the amount staked. The third layer involves earning multipliers on $L3 distributions based on your activity.
Note that everything you do with your tokens speaks to your alignment with the ecosystem. The higher your alignment is, the more benefits you unlock.
However, you intend to use $L3, remember that, as with any other crypto coin, the token carries risks and uncertainties. We took on the grunt work to tell you what you need to know, but this review isn't investment advice. So, take the time to learn more about Layer (L3) and its use cases before going all in.
Layer3 Price details
ETH Contract address: 0x88909D489678dD17aA6D9609F89B0419Bf78FD9a
›› Details & Tokenomics
Advantages of Layer3
+ Stake your tokens and qualify for a range of incentives based on your activity+ Layer3 (L3) offers one staking pool with three layers of rewards - passive staking, campaign rewards, and the L3 airdrop multiplier
+ Burning L3 tokens comes with various benefits across partner ecosystems, such as exclusive NFTs, fee discounts, and early access
+ Audits by two different firms speak to the project's, and by extension, the token's, legitimacy and security
+ The improved efficiency and scalability of Layer3 translates to low transaction costs for $L3
Disadvantages
- Layer (L3) comes with a steep learning curve for beginners, which can make investment decisions difficult- Compared to L1 and L2 tokens, $L3 faces slow adoption, thus affecting usability and growth
- Besides the general leaderboard, users should get product-specific leaderboards to make it easier to support particular projects
- Interacting with products from different partners could mean shouldering higher costs than usual
- At more than 25%, the inflation rate for $L3 is relatively high
Costs
▪ Rated at 7/10A big selling point for the Layer3 token is reduced transaction fees. Since the protocol boosts efficiency, then you can count on the lower costs of using its native token. Withdrawal fees when transacting with $L3 range from $0.60 to $5.19. Keep an eye out for crypto exchanges with the lowest rates.
Reputation and Buzz
▪ Reputation rated at 7.5/10▪ Buzz rated at 7.5/10
The Layer3 protocol is all the rage in the current crypto space. So, the attention the token is getting is expected. Crypto enthusiasts are eagerly waiting for the TGE in the summer of 2024. The activity-based rewards the token promises are some reasons for the excitement. $L3 is looking to be a game-changer in the crypto sector, which is drawing a lot of attention. The project has attracted backing from several reputable investors, including ParaFi Capital, Saber Group, and Immutable. Nothing says 'bright future' like the support of big-name funds and backers.
FAQ
Who founded Layer3 (L3)?
Dariya Khojasteh, who has been in crypto since 2016, and Brandon Kumar, an expert in cryptography asset management, are the founders of the Layer3 protocol.
When is the Layer3 TGE?
The company announced its TGE for the summer of 2024. It was successfully completed on 30 July 2024. Check out the Layer Foundation official page for news on future distributions.
How many L3 tokens are on the market?
The token's total supply is 300 million, with 5% allocated for the initial airdrop.
History of Layer3
May 10 2024 - The Layer3 Foundation introduces $L3, the Layer3 protocol governance and utility token. It gives users access to partner products, among other use cases.
June 5 2024 - Layer3 announces its native token's release and airdrop. The event is scheduled for the summer of 2024.
July 30 2024 - Token launches.
Screenshots from Layer3
More sites where to buy/sell/trade Layer3
Below you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this token. Click on the logo to read our review.
Layer3 details and tokenomics
