Layer3 Unveils L3 as Default Currency for CUBE Credential Minting (30 Oct)

New York, NY, October 30th, 2024,

This strategic shift begins in November and will enhance user engagement and streamline operations across over 30 chains where Layer3 has already established a top-10 protocol presence. 

The Rollout

Layer3, now a leading innovator in blockchain technology, has consistently ranked as one of the most active protocols by processing 170 million interactions and minting 35 million credentials since February. This achievement has generated $12 million in platform revenue YTD, cementing Layer3’s position as the industry’s leading distribution network. 

The transition to L3 as the default currency is anticipated to drive further adoption, as traders can now benefit from 0% trading fees on L3-denominated pairs. By eliminating trading fees, Layer3 offers an unparalleled incentive for users seeking to maximize trading efficiency and cost savings.

Additionally, Layer3 has introduced a feature allowing users to convert their rewards into L3 tokens automatically. With over $4 million in incentives deployed, this feature empowers participants to seamlessly integrate into the Layer3 ecosystem, enhancing liquidity and fueling token demand.

The Vision Is a Fully Integrated Platform

Layer3’s innovative approach extends to its token model, drawing parallels with Binance's BNB by positioning L3 as a core component of crypto distribution. The platform's vision includes expanding liquidity to additional Layer 2 solutions, starting with Base, and integrating L3 into all credential interactions across its deployed chains.

In a bold move towards inclusivity, Layer3 will also transition to a fully permissionless model, enabling teams and individual creators to access its distribution network using L3 as the access key. This openness removes participation barriers, fostering ecosystem growth and aligning value with protocol success.

About Layer3 

Layer3 is a leading blockchain company founded in 2021 by Brandon Kumar and Dariya Khojasteh. With a mission to revolutionize user engagement through tokenized incentives, Layer3 provides a unique marketplace where protocols can leverage tokens to influence user behavior. 

The company stands out for its innovative use of no-code platforms and its commitment to user-owned data and rewards.

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