Layer3, a token distribution protocol, has announced that it has raised $15 million in Series A round funding as it prepares to launch its token and conduct a token distribution. The funding round which has been closed recently has been co-led by ParaFi and Greenfield Capital, Electric Capital, Immutable, Lattice, Tioga, LeadBlock, Amber, and other investors.
Layer3 Operations
Layer3 acts as a token distribution platform that allows projects to distribute their tokens across multiple layers of the blockchain. In particular, Layer3 integrates user activity and targeting to offer an efficient distribution service to more than 100 cryptocurrency projects such as Uniswap, Base, Arbitrum, and Linea. Users from more than 120 countries have benefited from the platform, with over 3 million users.
AI-Powered Protocol and Improving Client-Oriented Services
Layer3 is also working to create an AI-based protocol in token distribution strategies which is planned to be released later this year. This will open up new possibilities for creating projects for issuing and distributing tokens, as well as improving client-oriented services.
Layer3 Token and Airdrop
Layer3 has recently launched its native utility and governance token, L3, with a total circulation supply of 300 million. The first airdrop is going to drop 5% of the total supply, which is 15 million tokens, for early birds and CUBE creators. CUBE or Credential to Unify Blockchain Events is a dynamic NFT that is created after accomplishing various tasks. Layer3 has kept 51% of the total Token supply for the community and the details of the rest of the distribution have yet to be disclosed.
Image Source: Layer3
Working Strategy used by Layer3 AI
Layer3 on the other hand uses a protocol that is based on Artificial Intelligence to determine the best ways to distribute tokens. Layer3 gathers information about user activity, token circulation, and other events relating to the blockchain. It is from this data that the AI system seeks to establish trends, likes, and even potential constraints.
Token distribution is specifically customized depending on users’ profiles and historical patterns concerning tokens. It accounts for aspects such as user interactions, geographical area, and preferred platforms. Tokens in an airdrop are also dynamically divided by the AI.
Certain criteria such as the level of usage or specific accomplishments are rewarded with a corresponding amount. Layer3’s AI can forecast the gas fees in one or another blockchain. It smartly manages tokens to ensure low costs of transactions for users. Here, the AI learns and responds to new trends or shifts in market trends and users’ habits. It constantly updates distribution approaches for improved results.
Significance of Layer3’s AI-powered Protocol
Specifically, the AI-generated protocol proposed by Layer3 has the potential to revolutionize the token distribution process. Based on AI, Layer3 plans to revolutionize the token issuance and distribution process, making it more effective and individualized. Such an approach can be a groundbreaking solution to change the distribution of tokens across different blockchains for the project’s teams and consumers. That is why, with the upcoming token release and airdrop, an AI protocol from Layer3 will be able to make a revolution in the world of cryptocurrencies.
Conclusion
With this new capital, Layer3 aims to increase its workforce from 13 to 20 employees, including engineers, data scientists, and business developers during the year. It is the time to get excited about Layer3 as it gears up to release its token and disrupt token distribution in the crypto niche. As for the goals of Layer3’s AI, the idea is to make the distribution of tokens more efficient, non-biased, and satisfactory to users.
Image Source: My Startup World
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