LightLink Will Start a Fair $LL Token Distribution this week


LightLink, a hidden gem EVM L2 with a proprietary architecture and gasless transactions, is preparing to distribute its native token $LL through Fjord Foundry's LBP. About LightLink and $LL LightLink is an Ethereum Layer 2 blockchain that lets dApps and ...

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LightLink Will Start a Fair $LL Token Distribution this week

LightLink, a hidden gem EVM L2 with a proprietary architecture and gasless transactions, is preparing to distribute its native token $LL through Fjord Foundry's LBP.

About LightLink and $LL

LightLink is an Ethereum Layer 2 blockchain that lets dApps and enterprises offer users instant, gasless transactions.

  • Gasless Layer 2.
  • Celestia underneath.
  • 115,000 daily transactions on Mainnet.
  • Partnered with Animoca Brands and 25+ other ecosystem projects.
  • $6.2M in seed round from both Web2 and Web3 investors.

LightLink's mission is to seamlessly integrate millions into the digital economy through user-focused dApps and enterprise partnerships, making blockchain as intuitive and accessible as Web2, without the complexity of gas fees and protocols.

LightLink will distribute its native token called $LL through Fjord Foundry's Liquidity Bootstrapping Pool (LBP).

LBP is a novel approach to token distribution that deters whales and sniping bots to allow enthusiasts to buy tokens at a fair price.

Sign up to receive exclusive updates about $LL LBP!

The scalability problem currently faced by L2s

Layer 2 solutions were built to scale Ethereum by separating consensus and execution layers. L2 executes users' transactions on its chain and then updates its ledger's state on L1 to secure data with Ethereum's consensus. Outsourcing transactions to a separate layer first resulted in reduced transaction fees, but with rising activity, L2 fees started growing.

The problem of high gas fees lies in inefficient storage models. Most L2s utilize Optimistic Rollups architecture to compress batched transactions and post them on L1, dividing those fees among all users, whose transactions were included in the batch. The cost of storage on L1 is high, and the space is limited, so when the demand for transactions reaches a certain level, the fees start rising, sometimes to a level higher than on L1.

The recent Ethereum Dencun upgrade introduced blobs — a cheap space for storing L2s rollups. Still, it can't fully solve the scalability problem and allow L2s to onboard millions of users. The free space on Ethereum isn't infinite.

Introducing LightLink solution to fees and scalability

LightLink aims to solve the scalability problem with a futureproof proprietary Optimum architecture. It separates consensus, execution, and storage layers:

  • LightLink's blocks are stored in blobs on Celestia, a modular network designed for data storage. During tests, LightLink uploaded 4.81 GB to Celestia and optimized the costs of posting transaction bundles from 4.5 TIA to 0.042 TIA.
  • Only block headers are posted on L1 every 25-30 minutes. They have a fixed size of 600 bytes (1000x less than a typical rollup), so Ethereum's fee surge doesn't affect LightLink gas fees as sharply as they bother Optimistic Rollups.

By leveraging Optimum design, LightLink achieves:

  • Low transaction fees: During the biggest gas fee surge caused by mass-minting, LightLink users paid only $0.008 per TX.
  • Scalability: LightLink can increase the gas block limit and achieve up to 10,000 TPS, as the specialized DA layer can fit more transactions than L1. If one DA wouldn't be enough, LightLink can explore and enable additional DA solutions.
  • Safety: Block headers stored in Canonical State Contract on L1, DA oracles, and fraud-proof contracts are enough to effectively verify the validity of LightLink transactions and punish malicious actors.

These factors will help LightLink to achieve its goal of popularizing Web3 technologies within enterprises, building enterprise solutions, and onboarding millions of users to the Web3 space.

Exploring use cases for LightLink native token $LL

First, the $LL token will be used in the featured Enterprise Mode to enable gasless transactions for users.

With Enterprise Mode, dApps and enterprises whitelist their apps' contracts and buy gas quotas for their users. By interacting with whitelisted contacts, users spend quotas, thus they can mint free NFTs, claim tokens, or chat in decentralized social networks without holding ETH or any other tokens in their wallets. No special wallet or custom contracts are needed, as Enterprise Mode simply sets 'tx.gasPrice = 0' in the transaction code.

Enterprise Mode users buy gas quotas at a discount, so this is a win-win situation for all. The projects can predict their expenses, hide the blockchain interactions in the interface, and simplify onboarding. At the same time, the users don't have to understand how gas fees work or why they have to buy ETH to benefit from Web3.

Second, validators will need the $LL tokens to purchase NFT nodes and acquire validator rights.

Third, the $LL token will be used by projects as a medium of exchange and a store of value.

Fourth, LightLink will launch a DAO governed by $LL holders and will use $LL to fund various initiatives.

Why LightLink chose to distribute $LL on the Fjord Foundry platform

The LightLink team designed its tokenomics to benefit its community.

The team has trimmed their and advisors’ allocations to increase LightLink Community Airdrop allocation to 6% and provide additional value like Luminary NFTs to the Airdrop leaders.

By pursuing the goal of benefiting the community, LightLink picked Fjord Foundry's Liquidity Bootstrapping Pool (LBP) as the fairest approach to token distribution.

LBP employs a unique price decay model: the token distribution starts at a recommended price and then gradually decays over a few days. The users might buy at the current price or wait to buy cheaper.

Buying volumes will drive prices higher. The whales are discouraged from buying in large quantities, as they will push the price only to see it go back down, while the users have an opportunity to purchase tokens without overpaying. In the end, the users receive their tokens, while the projects raise liquidity.

Fjord Foundry's LBPs have become quite popular in the Web3 space, with more than $131M raised by projects in Q1 2024. The most successful projects raised $7-9M each, and LightLink has allocated a significant amount to the initial LBP liquidity and carefully selected pool weights.

Join the LBP to acquire $LL at a fair price!