Web3 bounty task platform is essentially in the business of traffic, and how to maximize the expansion of the traffic pool is the foundation for all positive flywheels to turn.
Author: Haotian
How to view the decentralized attention commodity encryption currency protocol Layer3? Specifically: Layer3 aims to create a Web3 bounty matching platform that can define the overall user activity (attention) and project task incentive token distribution mechanism through the unique Tokenomics of Staking+Burn. It belongs to the Web3 traffic aggregation and distribution track along with Galaxy, RabbitHole, and others. Next, let me share my thoughts:
1) Most people will be confused as to why a Web3 traffic distribution platform is named Layer3. This may cause ambiguity as it collides with the Layer2 stack's multi-chain application track Layer3. Furthermore, the decentralized attention commodity protocol may also cause understanding confusion. However, if the layer is viewed as a more upper-level "entry" existence, where attention is equivalent to "traffic," Layer3's goal of aggregating and distributing traffic above a massive L1+L2 can be clearly perceived through its name.
2) Recently, the airdrop market has been quite sensitive, and some Web3 bounty platforms have been criticized for being helpers of project parties in attracting users. However, it may not be appropriate to completely burden the bounty platform with the responsibility of combating witchcraft on behalf of the project parties.
The reason is that the goal of the Web3 bounty matching platform is to introduce high-quality projects and match them with an early active user base. On one hand, it helps excellent project parties find the most suitable early audience, avoiding excessive witchcraft. On the other hand, it allows some active users to receive the expected early returns.
The controversy arises from the mismatch between the project parties' "concessions" and the user groups' "demands." How to improve this? In response to this, Layer3 has established a basic, fair, and efficient on-chain behavior tracking and asset distribution mechanism from the user end:
Specifically, Layer3 has built a user's full-chain identity and distribution protocol, mainly by aggregating individual users' activities in multiple cross-chain environments and complex dApps applications to form a unified on-chain identity view.
Based on this full-chain identity view, in the longer term, Layer3 can easily generate a detailed user profile, allowing project parties to find truly valuable "early users." With this full-chain identity view, Layer3 can more systematically distribute tokens to suitable users based on on-chain activities, CUBE credentials, social networks, and task participation criteria.
3) However, this alone is not enough to differentiate Layer3 from many other task bounty platforms. Therefore, Layer3 has designed a staking + deflation Tokenomics token economic model. How is this done?
4-year lock-up period: Tokens of core contributors, investors, and advisors are all subject to a 4-year lock-up period, with no unlocking in the first year.
Layered staking mechanism: Users need to passively stake to receive basic rewards and governance rights, but they can also earn more tokens actively by performing tasks, which is equivalent to a guaranteed income and dynamic commission, to a greater extent avoiding emotional backlash from being PUA while doing tasks. Staking and activity depth will serve as measurable indicators of the Layer3 ecosystem, unlocking rewards, additional benefits, and other privileges.
Burning mechanism: Layer3's total of 3.33 billion tokens remains constant, while both the user side and the project side are encouraged to actively burn tokens. Users burning L3 tokens can obtain greater privileges in the cooperative ecosystem, while project parties need to purchase and burn L3 tokens to obtain greater traffic distribution rights.
Over time, users will seek greater privileges through airdrops, attracting more users to join, leading to greater traffic, attracting more project parties to participate, and both users and project parties will continue to burn tokens to gain privileges, forming the basis for the continuous increase in the value of L3 tokens, attracting more users and project parties to participate. Ideally, a token incentive model with a positive flywheel effect is generated.
In summary, unlike some Web3 bounty platforms that explicitly do not issue tokens or even guarantee user task return rates, Layer3 clearly aims to solve Web3's disputes in a Web3 manner. Since the disputes surrounding the fairness of token distribution are the most significant, why not design a high participation threshold (requiring staking) but with a dynamic balance economic model that also has burning functionality?
In my opinion, the Web3 bounty task platform is essentially in the business of traffic, and maximizing the expansion of the traffic pool is the foundation for all positive flywheels to turn. To achieve this, the team needs to have a longer-term project growth strategy and use the self-ecosystem staking + burning mechanism to drive the value growth of the token, which will eventually yield results.
Throughout the process, data growth will serve as a mirror, directly reflecting the implementation of the entire Tokenomics, while value assessment will also have linear and objective standards.
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