Layer 3 currency is about to be released, is the status of the leading project Glaxe in jeopardy?

Content editor:尧二六

Content arrangement:尧二六

Task platform

Web3 task platform is an innovative Internet application that uses blockchain technology to provide users with the opportunity to complete tasks and receive rewards. Such platforms usually use incentive mechanisms to attract users to participate in various tasks, such as social media interaction, content creation, voting, product testing, etc.

Their position in the market is to provide user output for other new projects through the user data of their own platform, to help some entrepreneurial projects gain better market promotion and visibility, and play an important role in the later development of the project.

The task platform often requires the project team to provide users with corresponding rewards as feedback when listing the project tasks. It is also one of the favorite projects of many Lu Mao Party members. They can often find some high-return airdrop projects from these projects. , which has also created many users in the circle.

Galex (GAL) is one of the most successful case projects of the first mission platform in this track. There are also such projects in this track including QuestN, Tide, Solemp, and CARV, which was previously written by public accounts. Although some of them are projects in DID as a human identity verification section, what they do is all content marketing.

Layer3 task dispatch platform

This Layer3 does not mean the same thing as the third layer of blockchain. Layer3 in this article refers to the task dispatch project of the full-chain identity and distribution protocol.

Layer3’s full-chain identity and distribution protocol creates a flywheel effect, where cryptocurrency consumers discover new projects and projects reward them for their on-chain activity. By aggregating user activity across multiple chains and dApps, Layer3 generates a unified view of a user’s on-chain identity and enables highly targeted and efficient token distribution.

Layer3 solves the dual problems of attention and distribution in cryptocurrency:

Attention, the currency of the Internet, is monopolized by centralized technology giants who make profits at the expense of users; at the same time, challenges The system’s cryptographic protocol faces significant distribution hurdles, namely how to get the product in front of users and reward those users with tokens.

Layer3 is an infrastructure project for users to find value. It is not a fully explorable platform and is supported by Layer3's full-chain identity and distribution protocol. Decentralize the engine behind these trillion-dollar giants by creating a network of open identities, incentives, and interfaces owned by participants.

In order to attract users' attention, project parties need to constantly adjust and optimize their distribution strategies to promote more attractive solutions. Despite investing billions of dollars to launch new social networking graphs (e.g. new user groups, communities, etc.), like Cyber ​​Connect, it often quickly loses favor with those users as they move on to the next hot spot.

The problem of attention has become a scarce resource, because every day there are new blockchain first-tier (L1), second-tier (L2) and third-tier (L3) networks coming to the market to get a share of the cake. , competing for user share and attention.

Layer3 addresses this challenge head-on by:

• enabling projects to engage and build thriving communities and issue value to those users who contribute to growth.
• Let users discover the protocol and earn revenue through permanent incentives, pre-token network and unified cross-chain identity.

Identity

CUBE is an ERC-721 token minted by completing tasks. With the introduction of CUBE, on-chain effects are now unified into every credential.

CUBE is the fastest growing multi-chain identity network, with over 4 million CUBEs minted since its launch 2.5 months ago. With thousands of L1s, L2s, and L3s launched powered by AI, CUBE becomes the first antidote to the problem of on-chain identity fragmentation, unifying on-chain identities and activities. Minting fees ensure the integrity of the network. Additionally, Layer3’s user-owned KYC credentials are coming soon.

Different applications, chains and ecosystems for each task are recorded on each CUBE token. With on-chain credentials, explorers can unlock new opportunities and protocols can identify quality users.

Incentive

The project issues value to users indirectly through points or directly through tokens on Layer3.

Every well-planned or created points program and airdrop in the ecosystem increases our market size. Top ecosystems such as Linea, Base, and Gnosis are increasingly choosing Layer3 as the network to distribute value to users, attracting a wider audience over time.

Layer3 has brought extremely large-scale data expansion to Linea. After the opening of Linea Park, the daily active addresses have almost increased several times.

Layer3 activities are highly customizable – including on-chain points, recommendation systems, advanced loyalty mechanisms, and more. The success of Linea Park also proves the saying that as long as they are built, new users will come.

L3 Economic Model

L3’s deflationary token economics, activity-based rewards, utility, and staking drivers create a self-sustaining ecosystem where token value aligns with network growth and user engagement.

Adopts an innovative staking model called tiered staking.

Users can earn maximum rewards by staking and actively participating on Layer3. Staking and activity levels are measurable metrics aligned with the Layer3 ecosystem and partners, unlocking rewards, perks, governance rights, and exclusive opportunities.

To access the Layer3 protocol and network, the community must purchase and burn L3 tokens to issue tasks, deploy incentives, and access CUBE credentials. The total supply of L3 tokens is 3,333,333,333.

Community: 51% (1.69 billion L3)

51% of the total L3 supply is reserved for the community for 4 years, 40% in the 1st year, 30% in the 2nd year, and 20% in the 3rd year %, and 10% in the 4th year.

• 200,000,000 L3 (6%) is OG and S1 airdrop. 50,000,000 (1.5%) is the S2 allocation. The entire allocation is unlocked at TGE.
• 25% is the initial budget allocated by the Foundation for planned airdrops and incentives
• The remaining 26% will be owned by the community, managed by the DAO and the Foundation, and allocated over time to future airdrops, incentives and ecosystems System Plan.

Core Contributors: 25.3% (843 million L3)

• All tokens allocated to core contributors are subject to a 4-year lock-up period.
• No tokens will be unlocked in the first year. Starting in the second year, 33% of the tokens will be unlocked every year, distributed daily until the end of the 4-year period.

Investors: 23.2% (773 million L3)

• All tokens allocated to investors are subject to a 4-year lock-up period.
• No tokens will be unlocked in the first year. Starting in the second year, 33% of the tokens will be released annually and distributed daily for the next three years. This gradual release schedule reduces the large supply shocks that often occur when large amounts of tokens become available after the first year.

Advisors: 0.5% (16M L3)

• All tokens allocated to advisors are subject to a 4-year lock-up period.
• No tokens will be unlocked in the first year. Starting in the second year, 33% of the tokens will be released each year and distributed daily for the next three years.

The emission of L3 tokens is expected to begin in the second quarter of 2025 with the unlocking inflow of teams and other chips. The overall emission cycle is moderate. L3 is expected to go online and begin circulation in October, and is expected to be in circulation in 2025 In February of this year, the total emissions did not exceed 500 million tokens.

Layer3 Capital Lineup

Layer3 has conducted a total of 2 rounds of financing, with a total financing amount of US$17.5 million. ParaFi Capital is the main participating institution in the project.

The first financing occurred in the seed round on September 30, 2021, completing US$2.5 million in financing, led by ParaFi Capital, with participation from Electric Capital, 6th Man Ventures, Lattice Capital, Red Beard Ventures, Kain Warwick, Balaji Srinivasan, Kinjal Shah, Jai Bhavnani, Nick Emmons, Felix Feng, Jordan Momtazi, Tony Sheng.

The second round occurred on June 12, 2024, in Series A, completing US$15 million in financing, led by ParaFi Capital and Greenfield, with participation from Electric Capital, Immutable, Amber Group, Mirana Ventures, 6th Man Ventures, Lattice Capital, Tioga Capital, Third Prime, GD1 Crypto, King River Capital, Kain Warwick, Balaji Srinivasan, Kinjal Shah, Mats Olsen, Richard Chen, Sandeep Nailwal, Scott Keto, Colin Armstrong, Dave Bean, Elias Simos, Felix Feng , Nick Emmons, Antonio Garcia-Martinez, Derek Walkush, Jordan Momtazi, Siddharth Jain, Tony Sheng and other institutions.

Also raised a previously unannounced $3.7 million in strategic funding in 2022 from Electric, Lattice, ThirdPrime, ParaFi and Sandeep Nailwal.

Final summary

This project is another project that the task distribution platform announced to issue coins after Galxe and CARV. Layer3 also adds a competitor to the task platform, which adds a lot of trouble to GAL in the current market.

GAL: The scenario of "It's over, everyone is coming at me" is very consistent with the current situation. As far as the mission platform track we have seen so far, there are only a handful of projects that can compete with GAL for market share. CARV and Layer3 is the only project among them, and the environment of this track is very large. Although the share of this track is not very large, in terms of gameplay, it is very much.

L3 is a deflationary token, and the project team also provides two methods of deflation.

社区：社区必须购买和销毁 L3 代币才能访问 Layer3 协议和网络，从而发布任务、部署激励措施和访问 CUBE 凭证。另外，可以投票启动向利益相关者的收入流或 L3 协议收入的买入和销毁机制。

用户：用户可以销毁 L3 代币来获取合作伙伴生态系统中的特权，包括早期访问、费用折扣、独家 NFT 等。

这就给了 L3 代币有了一定的健康循环的空间，我们也相信 Layer3 也能够在未来的市场中占据一定的市场，为更多的用户提供丰厚的奖励。

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