What do you think of the decentralized attention commoditization cryptocurrency protocol @layer3xyz ? Specifically: layer3 aims to build a Web3 bounty matching platform that can define the full-chain user activity (attention) and the project party's task incentive token distribution mechanism (commoditization) through the unique Tokenomics of Staking+Burn. It belongs to the same Web3 traffic accumulation and distribution track as Galaxy, RabbitHole, etc. Next, let me talk about my opinion:

1) Most people will be confused as to why a Web3 traffic distribution platform is named Layer3. This conflicts with Layer3, a multi-chain application track on the upper layer of Layer2 Stack, which may cause ambiguity.

Moreover, the commercialization protocol of decentralized attention may also cause confusion in people's understanding. However, if the layer is regarded as a "portal" to a higher level, attention is equivalent to "traffic". The goal of Layer3 to become a traffic aggregation and distribution center above the massive L1+L2 can be clearly perceived through the name.

2) The airdrop market has been quite sensitive recently, with some Web3 bounty platforms criticized for being helpers of the project's PUA users. However, it may not be appropriate to let the bounty platforms bear the blame for the project's fight against witches.

The reason is that the goal of the Web3 bounty matching platform is to introduce high-quality projects and match them with a group of early active user groups. On the one hand, it helps excellent projects find the most suitable early audiences to avoid being over-witchd; on the other hand, it allows some active users to get the expected returns they deserve in the early stage.

The fundamental reason for the controversy is that the "concession" of the matching project parties and the "demands" of the participating user groups are misaligned. How to improve this? In response to this, Layer3 has made a basic, fair and efficient on-chain behavior tracking and asset distribution mechanism from the user side:

Specifically, Layer3 builds a user full-chain identity and distribution protocol, which mainly forms a unified on-chain identity view by aggregating the activities of a single user in multiple cross-chain environments and complex dApps applications.

Based on this full-chain identity view, Layer3 can easily generate a detailed user portrait from a longer-term perspective, allowing project owners to find truly valuable "early users". With this full-chain identity view, Layer3 can distribute tokens to appropriate users more systematically based on on-chain activities, CUBE credentials, social graphs, and task participation.

3) However, this alone cannot differentiate Layer3 from many task bounty platforms. For this reason, Layer3 has designed a staking + deflation Tokenomics token economic model. How does it work?

1. 4-year lock-up period: Tokens of core contributors, investors, and consultants have a 4-year lock-up period and will not be unlocked in the first year;

2. Layered staking mechanism: Users need to passively stake to obtain basic rewards and governance rights, but at the same time they can actively earn more tokens by completing tasks, which is equivalent to guaranteeing a guaranteed income and dynamic commissions, and can avoid the emotional backlash of PUA when doing tasks to a greater extent, while also meeting the overall incentive principle of more work, more pay. Staking and activity depth will be used as measurable indicators of the Layer3 ecosystem to unlock rewards, additional benefits, and other privileges, etc.;

3. Burning mechanism: The overall Layer3 of 3.33 billion remains constant, and both users and project parties are encouraged to actively burn. Users can obtain greater privileges in the cooperative ecosystem by burning L3 tokens, while project parties need to purchase and burn L3 tokens to obtain greater traffic allocation power;

In the long run, users will get more privileges through airdrops -> the money-making effect will attract more users to join -> greater traffic will attract more project parties to participate -> users and project parties will continue to burn tokens to obtain privileges -> the value of L3 tokens will continue to rise -> attract more users and project parties to participate. Ideally, a token incentive model with a positive flywheel effect will be created.

In summary, unlike some Web3 bounty platforms that explicitly do not issue tokens or even do not guarantee the return rate of user tasks, Layer3 obviously wants to use the Web3 method to resolve Web3 disputes. Since the disputes surrounding the fairness of token distribution are the greatest, it is better to design a dynamic equilibrium economic model with a high participation threshold (Staking is required) but with Burning function.

In my opinion, the Web3 bounty task platform is essentially a traffic business, and how to maximize the traffic pool is the basis for all positive flywheels to turn. To implement this, the team needs to have a longer-term project growth strategy and use the self-ecological Staking+Burn mechanism to promote the value growth of tokens. Only in the long run can we see results.

Throughout the entire process, data growth will be a mirror that directly reflects the implementation of the entire Tokenomics, and at the same time, value assessment will have linear objective standards.