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

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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 full provide, Layer3 Basis shared in a current publish on X.

To match the dimensions of the imaginative and prescient for Layer3, we have now made 2 key adjustments:

• Complete provide of L3: 3,333,333,333.

• The preliminary airdrop will probably be elevated to 7.5% of complete provide.

Detailed tokenomics might 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 full provide of L3, Layer3’s native token, is about at 3,333,333,333. It’s deliberate that 51% of the full provide will probably be distributed to the neighborhood, round 25% to core contributors, 23% to traders, and the remaining to advisors.

Supply: Layer3 Basis

Of the 7.5% of the full L3 token provide allotted for launch on the preliminary airdrop, 6% is devoted to rewarding the venture’s early adopters (OG) and S1 program individuals. 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 individuals. 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 time 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 traders 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 help its development, together with a deliberate crew growth and operations extension into the Asia-Pacific area.

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