LAMINA1 Tokenomics & Governance Updates (November 2024)

This just in from the LAMINA1 core team and Open Metaverse Foundation — LAMINA1’s Tokenomics & Governance plan just underwent a major update in the lead-up to some upcoming mergers, and the official L1 go-to-market. Read below for details.

To read the updated whitepaper in its entirety, check out: https://tinyurl.com/2ae6t79u

This just in from the L1 core team and the Open Metaverse Foundation — in advance of some exciting merger/acquisition updates and major movements on the official L1 go-to-market, we have a new version of the LAMINA1 Governance & Tokenomics whitepaper published and ready for community review.

The paper’s release follows an AMA we hosted on Friday, 11/8 with LAMINA1 Co-Founder/CEO Rebecca Barkin, and Dinghan Luo from the Open Metaverse Foundation, who publicly announced the following updates to the Foundation plan (originally released in April 2024):

1. The L1 token supply is increasing from 1 billion L1 to 1.5 billion L1
2. The RLI supply has been increased to 750MM
3. The LL1 supply has been increased to 700MM
4. The remaining 50MM L1 tokens will be allocated to a strategic reserve to fund future Foundation/OMMA operations, partnerships, and creator programs/incentives
5. 90MM L1 tokens have been set aside for upcoming airdrops

Also included in the paper is new info about the overall supply allocations to the LAMINA1 founding team, investors, foundation and community, as well as cliff/lock-up periods that will help protect the L1 economy in its early days for its community of builders.

To read the updated whitepaper in its entirety, visit: https://tinyurl.com/yzxmknap

For context on why these changes were made, and more information about LAMINA1’s upcoming go-to-market, direct from LAMINA1 core team leadership and the Foundation, listen in to the AMA below:

You can also access a transcript of the full AMA at: https://tinyurl.com/2s49xc87

Please note that the official L1 listing date was NOT announced during this AMA, and will be announced by the exchanges themselves once the token goes to market.

That said, expect this announcement to happen very soon (e.g. before the end of Q4 2024)— alongside the launch of Staking and LL1/RL1 token unlocks on the platform, which will officially mark the next era of the LAMINA1 economy.

Over the next few weeks, the LAMINA1 core team will be announcing some exciting new mergers with companies across the global open metaverse — a main component informing this latest Tokenomics update, alongside the rapid growth of the LAMINA1 community we’ve seen since launching Mainnet in May 2024.

We’ll also be publishing some major updates to the LAMINA1 Users & Developers Guide over the next few weeks that will explain to community members in more detail how to get assets/rewards tokens, start staking, begin unlocking their LL1/RL1 rewards tokens, and other key elements of the economic launch we’re preparing for.

To ask questions, provide commentary, and talk about these updates with fellow L1 builders, creators, and community members, visit us on Discord on our dedicated #governance-whitepaper channel, and stay tuned for more info about an upcoming Tokenomics Town Hall we’ll be hosting after the community has had a chance to read through and digest the changes.

We appreciate everyone’s excitement, engagement, and continued patience as we get things locked in and updated on the network prior to launch!