Layer3 CEO Darya: We have created a super channel that users want to access, the "Web3 Google."

Author: Block Media

Layer 3 (L3) aims to make Web3 technology more popular and user-friendly. Our goal is to build a decentralized ecosystem where users can more directly own value, helping them actively participate in the Web3 ecosystem by addressing structural issues in the distribution of existing platforms.

The main objectives of Layer3 include improving user experience, increasing user engagement, gamification elements, and decentralized governance. To achieve this, we simplify complex blockchain technology through gamified tasks and rewards, encouraging user participation via a rewards system and governance.

Currently, Layer 3 has built distribution infrastructure used by over 100 cryptocurrency projects, including Uniswap, Base, Arbitrum, Linea, Polygon, and Celo. It has over 3 million independent users across 120 countries and supports 25 blockchains, including EVM and Solana ecosystems.

In June of this year, Layer3 secured $15 million in Series A funding, bringing total funding to $21 million since 2021. Following this, we plan to provide faster and cheaper services by collaborating with various Layer 2 solutions. Block Media met with Layer 3 co-founder and CEO Dariya Khojasteh to learn about their dream of becoming the "Google of Web 3."

Q: Can you briefly introduce Layer 3?

1. I am the co-founder and CEO of Layer 3. We are building a comprehensive solution to help cryptocurrency protocols and users navigate the industry. The goal is to enhance the efficiency of cryptocurrency distribution through the Layer3 protocol and to create the best consumption platform, identity positioning, and incentive distribution open-source tools for users.

Full-chain identity, token distribution, and incentive infrastructure

Q: What are the main issues Layer3 is currently focusing on? I am particularly curious about your goals in the blockchain and network infrastructure-related fields.

A: One of the main issues Layer3 aims to address is that blockchain teams lack the distribution efficiency that internet builders gain from advertising on platforms like Facebook or Google.

New teams will consider all deployment strategies from the start. We need to find a way to collect Twitter followers and distribute tokens to the right users. Inefficiencies arise in this process, hindering overall growth.

Therefore, we are developing and optimizing crypto-native solutions to tackle these issues. We have created a structure that allows users to learn about projects they are interested in and acquire tokens. This enables protocols and blockchain teams to attract the users they want and optimize for long-term user acquisition rather than short-term speculation.

Q: There seems to be a lot of awareness and criticism regarding the marketing of Web 3 projects. How is Layer3 addressing this issue?

A: Currently, there is no platform in the Web3 ecosystem optimized for using cryptocurrency. Layer3 is dedicated to creating an integrated ecosystem where users can trade cryptocurrencies, discover new projects, and earn tokens.

Layer3's significant advantage is that all these features are gathered in one place. Any consumer interested in cryptocurrency can easily find elements of interest on this platform, and the structure of this process is very engaging.

Ultimately, what cryptocurrency users want is fun and profit. If you can provide both services on one platform, users will stay and return time and again. From this perspective, I believe Layer3 is a very impactful product. It is not easy to have people visit multiple times a day and continue returning for hundreds of days.

If you look at the Layer 3 leaderboard, you can find that the top 100 users have visited continuously for 100 days, 200 days, 300 days, or even 800 days or more. This kind of sustained engagement is very rare in the Web3 ecosystem.

Typical internet companies are very aware of how much their customers contribute to the company. If a customer spends $100 at your company, attracting them at a lower cost is a good business outcome. However, the cryptocurrency industry lacks this long-term vision.

For example, when we collaborated with Base, we estimated that the long-term value of a user could be $1,020, even though we do not know what this ecosystem will look like in 10 years. If that is the case, Base can devise a strategy to attract users at a cost of less than $1,020. This ensures successful business outcomes and provides users with a valuable sense of ownership.

Failing to do so would result in losses for both users and protocols, potentially harming the entire industry. Therefore, we are taking this approach to create a sustainable ecosystem.

Q: It is said that Layer 3's goal is to be the "Web3 superhighway, the Google of Web3." As Layer 3 potentially evolves into a centralized platform like Google or Facebook, how do you plan to maintain decentralization?

A: That’s a good question. We seek to decentralize the attention economy currently driven by platforms like Meta and Google.

To this end, we are building a Layer3-centered platform. This platform serves as the interface users visit daily, designed to reward users directly for spending time or investing money on it.

The tokens users earn in the Layer 3 ecosystem are rewards based on the time and attention they spend on the platform. For example, when a user discovers and uses the XYZ protocol through Layer3, he or she will earn that protocol's token. In this regard, it is very different from Google or Facebook, which profit massively from user attention. In Layer3, users make money.

Moreover, our ultimate goal is to decentralize the model of large, centralized platforms on the internet. Layer3 is at the center, but users receive most of the value, and that value is also something they can manage. This can be considered an innovation compared to existing internet business models.

Q: In a multi-chain, multi-protocol environment, what is Layer3's strategy? What are your plans to support OmniChain protocols?

A: Our protocol is compatible with all EVM (Ethereum Virtual Machine) chains. Since deploying new chains is very easy nowadays, it is important that we support new chains from the moment they launch and the teams building within that chain's ecosystem.

For users, this gives them the opportunity to explore everything in new ecosystems, find alpha, and earn tokens. To this end, we adopt a full-chain approach. Many non-EVM chains may emerge in the coming years, and we are preparing to ensure our users gain as much value as possible from these chains from day one.

Whenever a new chain appears, there will be no situation where Layer 3 is not on that chain. That is our goal.

Q: How will the L3 token be used within the platform?

1. In the Layer3 ecosystem, tiered staking is a way to align incentives with long-term users. Those who hold L3 tokens can access more parts of the ecosystem than those who do not. Additionally, staking L3 tokens allows access to more parts of the ecosystem, while locking tokens allows access to an even more extensive ecosystem.

This provides all users with the opportunity to participate in Layer3 while ensuring that those whose values align most closely receive the greatest long-term benefits. Many people complain that airdrops diminish the consumer experience in cryptocurrency because they often lead to short-term gains, token dumping, and project demise.

Layer3 staking token economics

We focus on providing real value to users. We care about how much they can contribute to our protocol in the long term and how long we can sustain this ecosystem.

Ultimately, we believe that long-term aligned incentives are the right model for any ecosystem. In the end, this is the source of token utility.

1. How has the feedback been since the launch of the L3 token? I am curious if there are any concerns related to token economics.
2. Currently, the circulating market cap of the L3 token is around $20 million, with a trading volume of about $3 million (as of August 23, Korean time). This is a very large numerical discrepancy. We are still researching various factors as the reason for this high interest.

I believe this is because consumers using the L3 token really appreciate its utility. I think the fact that you can use the token immediately upon receiving it makes it very appealing. It seems to be popular because it is widely used across various exchanges, has many utilities that consumers can actually use, and because these utilities are provided across three layers.

We place great importance on user feedback. In cryptocurrency projects, we believe we might be the best at analyzing what users find interesting and what they consider important.

We have received a wide range of user feedback, some positive and some negative, but what most users want is more activities and experiences. One of these is the Launchpad.

The Launchpad makes sense, especially in terms of issuing tokens in a centralized exchange environment and providing services for those issuing these tokens. The existing approach involves simple farming or passive token staking.

However, the Launchpad built by Layer3 aims to provide users with an immersive experience of projects before token issuance. This means that users are not just those who stake, but those who genuinely want to participate in the project will receive tokens.

Q: What potential new partnerships and future plans can Layer 3 users expect?

There are two upcoming partnerships that are particularly exciting. One is the launch of a highly anticipated blockchain, and the other is a recently funded infrastructure project that has garnered significant attention on social media and among consumers. We plan to promote the entire ecosystem they support. Both projects are set to launch on Layer3's Launchpad.

Layer 3 onboarding ecosystem list

We also plan to deploy on non-EVM chains. The goal is to allow users from different ecosystems to enjoy all the benefits of Layer 3. We also plan to transfer tokens to these chains so that users who only have liquidity in that ecosystem can stake their tokens and gain the same utility as EVM users.

Q: Please convey your final message to investors in the Korean Web3 ecosystem.

A: Layer3 has generated nearly $10 million in revenue, issued about 30 million vouchers (CUBEs), and allocated incentives in the process. We serve hundreds of thousands of users every month.

So far, over 110 million Layer 3 tokens have been staked, increasing demand for exchanges. This is because you need Layer 3 tokens to stake them and access utilities within the ecosystem.

In the future, I believe that as we collaborate with more projects, bring new users into the ecosystem, and deploy on more chains, we will be able to grow the platform and truly achieve the goal of being the "Google of Web 3."

If anyone has not yet used Layer 3, it is a good idea to register and give it a try. I also hope you provide me with some feedback. If you have any questions about Layer 3, feel free to ask. We will work together to help Koreans participate in the Layer 3 ecosystem.