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Getting L1

To create content, send transactions, transfer items, reserve Premium usernames, or participate in staking on the LAMINA1 platform, you’ll need some L1, the platform’s native token.

Right now, there are several ways to get L1 tokens and begin using them on the network. 

Buy L1 directly from an exchange

Starting November 24, 2024 the L1 token will be listed on Gate.io and MEXC, with more exchanges coming soon. \

To do this, you’ll need to create an account on either exchange, complete their required KYC/security verification, and choose your preferred method of purchase (from FIAT/credit card, to another kind of cryptocurrency you own).

From there, follow the steps as guided to connect your wallet to the exchange (either your LAMINA1-connected Metamask account, or a wallet you can use to easily forward L1 to your LAMINA1 Hub account once the transaction is complete). Then you can proceed to purchase L1 on the relevant exchange.

For step by step guides created by each exchange on how to use their platforms to buy/sell cryptocurrency tokens, see:

Note that the two platforms above are the ONLY official exchanges partners of the LAMINA1 network. For regulatory reasons, LAMINA1 and the Open Metaverse Foundation will never sell native L1 directly on the LAMINA1 Hub platform, or on its official social or community channels.

Unlock via L1 Rewards Tokens

If you are the recipient of LL1 or RL1 on the network, either by participating in recent airdrops/rewards campaigns, staking, or receiving a partner/developer grant from the Open Metaverse Foundation, you can unlock these tokens into liquid L1 over time via your LAMINA1 Wallet.

L1 rewards tokens will begin unlocking on the LAMINA1 network alongside the L1 token listing and the launch of Staking on the platform on November 24, 2024.

To begin claiming these tokens and unwrapping them into liquid L1, navigate to your Wallet by clicking on the L1 dropdown next to your Profile picture at the top of the LAMINA1 Hub, or by going directly to https://lamina1.com/wallet.

Under “Rewards” click the “Unwrap” button, which will pull up a modal showing you the number of RL1/LL1 tokens that are currently available to you (e.g. have completed their designated locking/waiting period and no longer have restrictions on their use or transfer). Confirm the amount you’d like to unwrap, and pay a small network fee to do so. 

You can also unwrap tokens for free once per day via the Staking Tab by clicking on the “Collect” button on the top left section of the page.

Note that all airdrop recipients, featured artists, partners, and insiders who are eligible for rewards in the initial onboarding period will receive a small quantity of L1 when they first onboard or claim their airdrops to help pay for the gas of unwrapping their tokens. Return to your LAMINA1 Wallet regularly to keep unwrapping rewards into usable L1 as they unlock.

Right now, the current unlock rate for LL1 is 5% per quarter, or 0.05% per day. The unlock rate for RL1 is 10% per quarter, or 0.10% per day. These rates are subject to change according to rules and parameters laid out in the LAMINA1 Tokenomics & Governance whitepaper.

Earn Through Tips, Services, Content Creation on LAMINA1

LAMINA1 users can also send L1 to each other directly via Profiles (via a dedicated tipping feature) and the LAMINA1 Wallet (via dedicated Send/Receive buttons that allow you to send any amount of L1 to a username or address that you know).

Already, we have several on-chain projects that have begun receiving L1 in exchange for creative and services on the platform. Much of this activity is currently happening on the #nfts and #project-launches channels on the LAMINA1 Discord via off-platform auctions, however, the upcoming launch of Storefronts and Spaces will open up the economy even further so much of this trading can happen directly on the LAMINA1 Hub. 

Eventually, we see the trading of open metaverse content, services, and experiences as the primary way creators, builders, and developers will begin earning liquid L1 on the platform. For now, if you want to begin monetizing your content on LAMINA1, look for inspiration on how fellow community members are kickstarting the L1 economy via the channels above, and stay tuned for upcoming feature launches on https://lamina1.com

Participate in Questing, Partner Activations, Creator Competitions & Beyond

The Open Metaverse Foundation also has several million L1 tokens set aside for future airdrops, partner activations, and community incentives designed to help grow the platform and reward active participants on the LAMINA1 network. While the majority of these tokens will be wrapped in RL1/LL1 prior to distribution, some drops may include small amounts of liquid L1 to help users onboard/pay for gas on the network, or power engagement for marquee partnership/listing activations.

The best way to stay up-to-date on these potential L1-earning opportunities is to join the LAMINA1 community at https://discord.gg/lamina1 and/or follow the LAMINA1 Telegram or Bluesky for rewards announcements.