Layer3 is a token distribution protocol, aiming to help projects distribute their tokens more efficiently to attract and retain users. It enables web3 startups to create various social, on-chain, and product-related quests, and allows users to complete them and earn XP, Cubes, and token airdrop rewards.
The Layer3 quest platform is powered by the native $L3 token, the main role of which is to grant users access to DAO votings, launchpad, token burn incentives and exclusive features on Layer3.
Since its inception in 2021, the project has raised over $21.2M from leading funds and backers, including Electric Capital, ParaFi Capital, Balaji Srinivasan, and others.
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🤔 What is Layer3?
Layer3 is one of the token distribution protocols with over 3M users, designed to connect newcomers in the crypto space with web3 startups.
It allows blockchain companies to attract new audiences by creating a wide range of quests and tasks, including:
To complete the Layer3 quests, users receive XP and mint Cubes and NFTs from crypto projects, which allows blockchain startups to identify the most active community members and reward them accordingly.
🪙 Layer3 token: On June 5th, 2024, the company announced the upcoming release and airdrop of its native $L3 token. According to TheBlock, the main criteria for the airdrop will be the amount of XP and Cubes users acquire when completing quests from other crypto projects.
$L3 will provide users with access to the governance layer of the platform, launchpad, and exclusive features via staking $L3, such as stake-to-earn exclusive quests, a tiered reward system, exclusive incentivized programs, and future airdrop multipliers.
The protocol has also introduced a few token-burning mechanisms, offering users who participate in such programs various perks across partner ecosystems, as well as enabling projects to post quests on its platform, deploy incentives, and access CUBE credentials.
Considering the possible release of the token soon, the CoinLaunch team conducted complete research on the Layer3 crypto platform. Here are some major pros and cons we found:
✅ Layer3 pros:
❌ Layer3 cons:
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