What we did…
If you didn’t catch our announcement during #Layer1Live on Monday, Layer1 is partnering w/ Roll to initiate the launch of LADZ, a social currency which will allow active community members within our ecosystem to be rewarded via tokens that can be accessed, stored, and exchanged across the web, including being interoperable w/ the Ethereum blockchain.
It’s a move we have been planning for some time, having interviewed multiple members (Alex Masmej $ALEX and Sid Kalla of Roll) of the social currency movement and we’re thankful for @tryrollhq for guiding us through the process!
The #LADZ salute you!
Why we tokenized..
TL;DR? We’ve got a great community of initial members (AND potential future members) that we want to reward for traveling with us on this “journey of crypto”, all while improving Layer1 in the process.
The concept of “social money” is incredibly new to most people…and even within the confines of the crypto space, an industry known for light-speed levels of innovation, many still scoff at the idea of tokenizing an individual, group, or podcast. Put simply, anything outside the realm of more common tokenization structures we see today, from traditional firm allocations all the way down to governance DAOs, is likely seen as radical.
Truthfully, when you’re in an industry where moving fast and breaking things is the norm, a few actors will come under the fire of regulatory scrutiny. And yet innovation must go on, and Lady Fortuna favors the bold…
At the heart of Roll’s bold vision is the idea that individuals are moving farther and farther away from consuming content from large incumbent, monolithic entities, and are instead opting for smaller tribes, communities, and creators where trust, incentives, and meaning can all be easily established and aligned.
All while a parallel paradigm shift occurs, from individuals PAYING to consume content, to being REWARDED for doing so.
These events have set the stage for SOCIAL currency and formed the vision for $LADZ
If you want a in-depth breakdown of WHAT social currency is, check out our interview w/ Sid or head over to tryroll.com.
Here’s what to expect initially:
A “community-points” based token earned through activity on Layer1
A token distribution model/roadmap (Released 7/24)
A community competition to determine future LADZ utility
Off-chain signups and functionality, but interoperable w/ your Ethereum-based wallet
Here’s what NOT to expect:
A token sale
Moon Lambo
100x
A finished product
Governance capability (initially)
A static roadmap