Native Currency: L1

L1 is the native currency of Lamina1. It’s the fundamental unit of the Lamina1 ecosystem –– used to pay for fees and services, secure the platform through staking, and provide a basic unit of account between Subnets and applications created on Lamina1. 1 nL1 is equal to 0.000000001 L1.

On the Lamina1 Hub, native L1 is referred to as usable L1. This digital currency is liquid, tradeable, unlocked and can be used to pay for usernames, content creation, transaction fees, gas fees, assets, access and experiences on the platform. L1 can also be wrapped into ERC-20 L1 for support in applications, and when L1 is represented on other networks. For example, on the Avalanche network itself, where AVAX is the native token, you will see L1 as an ERC-20 token. Likewise, on Lamina1, AVAX is represented as an ERC-20 AVAX token.

To date, 1.5 billion L1 have been created for the LAMINA1 token and creator economy, with 50% going to the Lamina1 community, 16.1% going to the Lamina1 founding team, 14.7% going to investors, 13.2% going to the Open Metaverse Foundation, and 6% going to community airdrops (including Airdrop ADb, the Hubmania airdrop, and future drops for exchanges, market makers, and community members participating in building, creating, testing, and questing on the platform).\

For more information, see the latest update to the LAMINA1 Tokenomics & Governance Whitepaper.