Layer3: Will open airdrops and support token staking on July 30

Token distribution protocol Layer3 announced that it will open its airdrop application on July 30th. Users can choose to stake L3 to receive rewards, and there is a 7-day withdrawal period after staking is released. The locked tokens of the team, investors, and advisors will begin to unlock after 12 months and cannot participate in staking.

Layer3 stated that the amount of staking, lock-up period, and activity may affect future token distribution. The current L3 token has not yet been launched. Previously, the Layer3 Foundation announced the L3 token economic model, with a total supply of 3,333,333,333 tokens: 51% reserved for the community; 25.3% distributed to core contributors; 23.2% distributed to investors, and 0.5% distributed to advisors. The initial airdrop during TGE is 7.5% of the total supply, with 200 million L3 tokens (6%) distributed to early users and S1 participants, and 50 million tokens (1.5%) distributed to S2 participants. The early user and S1 snapshot was taken on May 10, 2024, and the S2 snapshot was taken on July 22.