Layer3 $L3
Layer3 is a protocol providing smart contract infrastructure for multiple blockchains such as the Optimism ecosystem and broader Superchain. The protocol innovates on user engagement through its quest mechanism while offering comprehensive omnichain services including cross-chain swaps, bridges, and a launchpad. In terms of agent coordination, Layer3 coordinates platform activities through three key participant groups: Stakers, Builders, and Platform Users.
Layer3 token design description
TL;DR
- L3 serves as both a governance and utility token for the Layer3 ecosystem, enabling staking to earn protocol rewards and participate in governance.
- Staking L3 grants access to premium features such as special launchpads and enhanced reward rates.
- The benefits scale with the amount staked and the duration of commitment, incentivizing long-term participation.
Economic Summary
The Layer3 token (L3) implements its core functionality through a layered staking system that requires tokens to be encumbered in the protocol's staking contract. This staked position enables participation in part of the protocol's value capture system, which combines reward distribution, access-rights, and governance capabilities. The remaining portion of value capture rests with value transfer, which does not initially require staking tokens.
The primary value-capturing mechanism of L3 can be described as a multi-layered staking system centered around the Risk Exposure OoV, represented by the commitment of tokens through staking. This base staking mechanism enables users to capture value through multiple streams while maintaining aligned incentives for long-term protocol participation.
The staking mechanism (Risk Exposure) enables token holders to capture value through:
- Future Cashflow through continuous token emission rewards
- Governance rights within the three-stage governance process
- Access to the launchpad service, exclusive activities (campaigns, quests, incentives), and airdrop multipliers
- Additional Future Cashflow through enhanced protocol privileges (i.e. Boosted staking APYs)
Governance functionality require specific Conditional Actions from users, including active participation in proposal discussions, voting, and protocol operations. The governance process follows a structured three-stage system requiring significant token commitment, with 3,000,000 L3 tokens needed for proposal creation and 33,000,000 positive votes for proposal passage.
Based on the presented overview, the Layer3 token implements two main VCMs, and three interconnected sub-VCMs that can be described formulaically as:
Primary VCMs:
- for Value Transfer
- for Vote-escrowed Access
Sub-VCMs:
- for Staked-Based Reward Access
- for Yield-Bearing Stake
- for Generalized Governance
This implementation represents an evolution of traditional staking mechanisms by introducing multi-layered value capture streams that scale with user participation and commitment levels.