L2 GOVERNANCE TOKEN
$L2 is the Gluon Network Governance token.
Gluon is a high speed Layer 2 solution designed to power fast transaction apps such as Decentralized Spot and Derivatives Trading.
EXECUTIVE SUMMARY / TLDR
- Clarity over tokenomics & supply — both now and estimated in 12 months.
- Announcement of key initiatives to bootstrap growth (liquidity rewards, ecosystem incentives).
- Progress towards further decentralization. Co-creating an environment for success.
While we were building out our core Gluon Layer 2 high-speed solution and the leverj.io platform which takes full advantage of Gluon’s functionality, we have observed significant changes in the crypto market. We always intended to update our tokenomics to sync with maturing macro-trends and have been discussing many innovative concepts with our community and partners. It’s become clear that burning supply has only limited and momentary benefits.
One of the many great articles covering the subject is this one from PlaceHolder VC, title “Stop burning tokens, Buy Back and make instead”
GOAL
Implement the best ideas that have longevity and create an environment which activates a wide range of market participants. Doing any one thing such as airdrops or yield farming has a shelf-life.
Our plan is to create a gravity well, which draws a wide array of interest and participation to ensure a bright future.
NEW TOKENOMICS
Tokenomics released October 2020
Percent | # of LEV | Holder | ||
Control of Keys with Leverj: | ||||
20.41% | 204,116,643 | Treasury – Staking | Not in circulation – Staking only. | |
21.33% | 213,250,000 | Team | Not in circulation – Staking only. | |
0.60% | 6,000,000 | Treasury – Opex | Not in circulation – Issued over time. | |
6.00% | 60,000,000 | Go To Market / Marketing | Not in circulation – Issued over time. | |
6.00% | 60,000,000 | Liquidity Rewards & Market Makers | 50m over 12 months (traders), 10m over 3 years (MM’s) | |
3.50% | 35,000,000 | Ecosystem Fund, Grants / Bounties, Validator Nodes, Insurance | Issued over time. Approval via DAO. | |
12.33% | 123,324,275 | Locked Treasury | Not in circulation for another 7 years. | |
Free Float Circulating Supply: | ||||
29.83% | 298,309,082 | Public Wallets | Current circulating supply | |
Total | 100.00% | 1,000,000,000 |
SO, LET’S BREAK THIS DOWN
Total vs Circulating supply.
Since the Token Generation Event in mid 2017, there have been 298.3M L2 tokens in free-float supply.
This represents 29.83% of total supply today.
We intend on increasing circulating supply from 29.83% to an estimated 41.23% by Oct 2021.
The reason for this increase is to activate all the exciting initiatives, including 50m tokens to reward traders on Leverj as incentive to move their trading over from other platforms.
LET’S BREAK THIS DOWN FURTHER BY INITIATIVE:
ESTIMATED SUPPLY AFTER 12 MONTHS
This is an **ESTIMATE** of how the circulating supply may look like by Oct 2021:
Percent | # of LEV | Holder | ||
Control of Keys with Leverj: | ||||
20.41% | 204,116,643 | Treasury – Staking | Not in circulation – Staking only. | |
21.33% | 213,250,000 | Team | Not in circulation – Staking only. | |
0.20% | 2,000,000 | Treasury – Opex | Estimate remaining pool size. | |
1.50% | 15,000,000 | Go To Market / Marketing | Estimate remaining pool size. | |
0.67% | 6,666,000 | Liquidity Rewards & Market Makers | 66% of the MM part ;eft (2 more years of use) | |
2.33% | 23,331,000 | Ecosystem Fund, Grants / Bounties, Validator Nodes, Insurance | 66% of the MM part ;eft (2 more years of use) | |
12.33% | 123,324,275 | Locked Treasury | Not in circulation for another 7 years. | |
Free Float Circulating Supply: | ||||
41.23% | 412,312,082 | Public Wallets | Current circulating supply | |
Total | 100.00% | 1,000,000,000 |