LAY3R TOKEN
The liquidity-proxy token
This section is presently undergoing updates. Please check frequently for changes.
How LAY3R Works
The AutoLayer token is pivotal to the protocol ecosystem, increasing in value as the user base expands. Currently, no fees are charged, but the platform plans to implement a fee ranging from 0.05% to 0.20% on all transactions conducted via AutoLayer.
After our token launch, we will add a transparent fee to every transaction, with that fee the user will automatically purchase LAY3R and ETH on the market to provide liquidity to the LAY3R/ETH pair. Following this, an Escrowed Liquidity AutoLayer Token (esLAY3R) will be issued to the user's wallet.
Holding esLAY3R tokens will accumulate more LAY3R tokens over time, with the returns increasing the longer they are held. After 30 days, the liquidity provider (LP) tokens begin their maturation process, peaking at 12 months. A user can withdraw his LPs after the 30 days, at any moment, the longer that position is held, the longer the yield.
With this functionality LAY3R works as proxy token, every user is a long-time holder, and the more the protocol grows the more the liquidity is decentralized.
To calculate rewards, we'll use a simple formula:
Community Milestones and LAY3R
Community Milestones are essentially growth goals for AutoLayer. Every time a community milestone is achieved, a certain portion of AutoLayer's incentives is unlocked and distributed to the LAY3R community. Holding LAY3R plays an important role in achieving Community Milestones, and holders will be rewarded as certain milestones are reached.
Read the AutoLayer Points Sytem for more information about the Community Milestones.
Token Distribution and Release Schedule
Ticker: LAY3R
Maximum Supply: 32,000,000
Initial Circulating Supply: 2,386,880
Token Format: Native ERC-20
Lock Up: 92% of LAY3R is initially locked and the tokens will unlock over the course of four years per the Token Release Schedule below:
LAY3R will be distributed across these categories:
Community
25,5% - 8,131,200 LAY3R
AutoLayer wouldn’t be possible without a thriving community of supporters, which is why we are allocating 25,4% of the token supply to the community. This will be distributed through airdrops and other incentives over a 5-year period. These airdrops will be distributed based on Community Milestones, which are activated by goals achieved by the community.
Community Milestones are associated with the maturity of AutoLayer and will be initially defined by the AutoLayer team and subsequently by the AutoLayer community.
Ecosystem
28% - 8,960,000 LAY3R
The Ecosystem and Incubation category represents a portion of LAY3R that will be allocated to strategic contributors to the broad AutoLayer ecosystem, including community organizations, developer community growth initiatives, strategic contributors, and more.
Seed Round
17.2% - 5,499,880 LAY3R
The core contributors to AutoLayer will be allocated 17% of the token supply. This portion is reserved for the decentralized set of organizations who have tirelessly focused on the security, engineering, product, funding, infrastructure, growth, and operations of AutoLayer. Less than 7% of these allocation will be released on TGE.
Public Round
2.4% - 768,000 LAY3R
The public round is going to be held on different Launchpads and it is the first opportunity for our users to be part of the AutoLayer ecosystem as LAY3R holders. The AutoLayer IDO will be held on Poolz and MagicSquare Launchpads.
Liquidity Provision
5% - 1,600,000 LAY3R
This percentage of the total supply will be used to provide liquidity over different decentralized exchanges, to boost price discovery and liquidity on the DeFi ecosystem.
Treasury
4% - 1,280,000 LAY3R
This portion of the token supply is dedicated to AutoLayer's reserves. This aims to drive priority initiatives such as future interoperability research, providing grant funding to ecosystem teams, supporting the developer community, funding operational expenses, and other relevant programs.
Strategic Advisors
4% - 1,280,000 LAY3R
This portion will be allocated to strategic network participants who have taken a vested interest in the long-term success and stability of the network. These participants include strategic angels, builders, and technical partners, with deep crypto expertise in network governance and scaling.
AutoLayer Team
14% - 4,480,000 LAY3R
This 14%, with the longest vesting period, goes to the core AutoLayer Team (our developers, designers, marketers, and analysts).
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