Layer3, a community-driven initiative centered on constructing an omnichain infrastructure for distribution, id, and incentives, has adjusted its tokenomics and elevated the preliminary airdrop to 7.5% of the overall provide, Layer3 Basis shared in a current put up on X.
To match the size of the imaginative and prescient for Layer3, we have now made 2 key adjustments:
• Whole provide of L3: 3,333,333,333.
• The preliminary airdrop will likely be elevated to 7.5% of whole provide.
Detailed tokenomics may be discovered within the Layer3 Basis’s docs.https://t.co/xmeaXcv88G pic.twitter.com/hxH0dj91Fv
— Layer3 Basis (@Layer3FDN) July 5, 2024
As detailed in Layer3’s documentation, the overall provide of L3, Layer3’s native token, is ready at 3,333,333,333. It’s deliberate that 51% of the overall provide will likely be distributed to the neighborhood, round 25% to core contributors, 23% to buyers, and the remaining to advisors.
Supply: Layer3 Basis
Of the 7.5% of the overall L3 token provide allotted for launch on the preliminary airdrop, 6% is devoted to rewarding the venture’s early adopters (OG) and S1 program members. These are customers who actively participated within the venture’s early levels and demonstrably contributed to Layer3’s preliminary growth.
The remaining 1.5% is allotted to S2 reward program members. The snapshot to find out eligibility for the OG and S1 airdrop occurred on Could 10, 2024.
The newest updates come as Layer3 gears up for its summer season token launch and airdrop.
Final month, the venture mentioned it secured $15 million in Collection A funding led by ParaFi and Greenfield Capital, with participation from Electrical Capital, King River, and Tioga Capital, amongst others. The spherical additionally noticed participation from angel buyers from LayerZero and notable figures like Scott Keto, Chief Working Officer at CoinList, and Mats Olsen, Dune’s co-founder.
Layer3 goals to make use of the funds to assist its progress, together with a deliberate group enlargement and operations extension into the Asia-Pacific area.