Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Layer3 increases initial airdrop to 7.5% of total supply ahead of token launch

Layer3 increases initial airdrop to 7.5% of total supply ahead of token launch

Cryptobriefing2024/07/06 16:58
By:Cryptobriefing

Key Takeaways

  • Layer3's airdrop increase to 7.5% supports its vision for a scalable omnichain infrastructure.
  • With new funding, Layer3 plans to expand its team and operations, targeting growth in the APAC region.

Layer3, a community-driven initiative focused on building an omnichain infrastructure for distribution, identity, and incentives, has adjusted its tokenomics and increased the initial airdrop to 7.5% of the total supply, Layer3 Foundation shared in a recent post on X.

As detailed in Layer3’s documentation , the total supply of L3, Layer3’s native token, is set at 3,333,333,333. It is planned that 51% of the total supply will be distributed to the community, around 25% to core contributors, 23% to investors, and the remaining to advisors.

Layer3 increases initial airdrop to 7.5% of total supply ahead of token launch image 0 Layer3 increases initial airdrop to 7.5% of total supply ahead of token launch image 1 Source: Layer3 Foundation

Of the 7.5% of the total L3 token supply allocated for release at the initial airdrop, 6% is dedicated to rewarding the project’s early adopters (OG) and S1 program participants. These are users who actively participated in the project’s early stages and demonstrably contributed to Layer3’s initial development.

The remaining 1.5% is allocated to S2 reward program participants. The snapshot to determine eligibility for the OG and S1 airdrop occurred on May 10, 2024.

The latest updates come as Layer3 gears up for its summer token launch and airdrop.

Last month, the project said it secured $15 million in Series A funding led by ParaFi and Greenfield Capital, with participation from Electric Capital, King River, and Tioga Capital, among others. The round also saw participation from angel investors from LayerZero and notable figures like Scott Keto, Chief Operating Officer at CoinList, and Mats Olsen, Dune’s co-founder.

Layer3 aims to use the funds to support its growth, including a planned team expansion and operations extension into the Asia-Pacific region.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

What’s behind ‘bearish’ altcoin action: Amberdata

Even before LIBRA, altcoins were having a rough start to the year

Blockworks2025/02/21 01:22

Ethereum Staking ETFs: SEC Moves Closer to Approval

The SEC acknowledges 21Shares’ Ethereum ETF staking amendment, bringing ETH staking ETFs closer to reality.Institutional Money Flowing into ETH ETFsPotential Price Surge for ETH

Coinomedia2025/02/21 01:11

One SOL Alternative Is All You Need for 100x Gains – Currently at $0.003

Ozak AI ($OZ) leverages AI and DeFi for high-growth potential, outpacing Solana ($SOL) with innovative blockchain and predictive analytics.Ozak AI Presale Details and Growth PotentialThe Competitive Edge of Ozak AI Over Traditional Cryptocurrencies

Coinomedia2025/02/21 01:11

Crypto Market Cools Off After Failed Bitcoin Rally

Bitcoin, Ethereum, and Solana retreat as the crypto market loses momentum. Memecoins face the sharpest correction after explosive gains.Altcoins Face Heavy LossesWhat’s Next for the Market?

Coinomedia2025/02/21 01:11