๐ชLAY token overview
Introduction to the LAY Token
The LAY token serves as a fundamental element within the Lay3rs ecosystem, functioning as an ERC-20 fungible token designed to materialize and weigh financial flows and contributions. With its diverse functionalities, the LAY token plays a crucial role in facilitating various aspects of digital twin creation, licensing, redistribution, and community participation.
Functions of the LAY Token
The LAY token enables users to:
Contribute to Digital Twin Creation: Users can utilize LAY tokens to finance data acquisition or produce 3D models, thereby contributing to the creation of digital twins within the Lay3rs ecosystem.
Purchase Licenses: LAY tokens serve as the currency for purchasing licenses for the use of exports in all types of digital creations, providing access to a diverse range of content for creative projects.
Automate Redistribution: LAY tokens automate the redistribution of products to complex and dynamic rights-holder structures, ensuring fair and transparent distribution mechanisms within the ecosystem.
Weight DAO Contributor Powers: LAY tokens play a critical role in weighting the powers of contributors within decentralized autonomous organizations (DAOs), granting access to digital twins and influencing decision-making processes based on token holdings.
Participate in Community Mechanics: LAY tokens enable participation in various community mechanics and marketing events, fostering engagement and collaboration among Lay3rs users.
Token Availability and Deployment
While the LAY token is scheduled for public availability in Q1 2024, a testnet token known as $PLAY (Prototype of $LAY) is already accessible on the Build3rs.io platform. Deploying a prototype cryptocurrency token on a testnet prior to public deployment offers several advantages, including safe testing, bug detection, user feedback, and optimization.
Token Specifications
The LAY token is designed with the following characteristics:
Total Supply: 1,000,000,000 tokens
Decimals: 18
Name: Lay3rs
Symbol: LAY
Burnable, Non-mintable: Tokens are burnable, meaning they can be permanently removed from circulation, and non-mintable, ensuring a fixed supply over time.
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