The Layer3 Foundation announced the launch of its new governance and utility token, L3, scheduled for early summer.

This initiative marks a major milestone in blockchain and is crucial for the expanding community.

L3 will be the cornerstone of the Layer3 ecosystem, supporting more than 96 million interactions across 545 ecosystems worldwide. The foundation plans to distribute 51% of the 300 million total tokens to the community, highlighting its dedication to decentralized governance and user empowerment.

The first major event, a Genesis Airdrop, will distribute 5% of the tokens. This action aims to reward early supporters and boost their engagement and loyalty.

“The initial airdrop will distribute 5% of the total L3 supply to early adopters and CUBE minters. There will be multiple airdrops, more details to come,” Layer3 team said.

L3 token holders can access diverse incentive programs, engage in advanced on-chain experiences, and influence the protocol’s governance. Still, detailed tokenomics will be released in June, offering potential investors and community members valuable insights into L3’s economic structure and future opportunities.

Read more: Best Upcoming Airdrops in 2024

Soon, the Layer3 Foundation’s website will let users check their eligibility for community tokens. The foundation’s Twitter accounts, @layer3xyz and @Layer3FDN, will also keep the community updated.

By focusing on interactive quests and hands-on educational experiences, Layer3 aims to build a knowledgeable community equipped to address challenges and opportunities.

The post Layer3 Foundation to Launch L3 Token This Summer appeared first on BeInCrypto.

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