PANews reported on May 10 that the Layer3 Foundation, a distribution and identity protocol, announced that its token $L3 will be launched in early summer this year with a total supply of 300 million, of which 51% will be allocated to the community. The detailed token economics plan will be announced in June 2024. The Genesis airdrop accounts for 5% of the total supply, and a snapshot was taken for early users and first season participants (CUBE minters) at 2:00 pm UTC on May 10, 2024.