GateLive AMA Recap-LightLink

2024-05-22, 04:22

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## Q1: What is LightLink? Describe it in simple terms.
LightLink is an <a href="/ru/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> Layer 2 blockchain that lets dApps and enterprises offer users instant, gasless transactions.

LightLink is built on proprietary tech that allows it to reach over 10 thousand transactions per second while maintaining less than 1 cent gas fees.

We are pushing for the mass adoption of millions of enterprise users. Enterprises can launch their Web3 services on LightLink and offer them to their users free of charge and without technical complications of gas fee mechanisms.

## Q2: How do LightLink's gasless transactions work?
Gasless transactions are achieved with our Enterprise Mode. Enterprises and projects whitelist their contracts via Enterprise Mode and buy gas quotas with fiat or the LL token for their users to spend.

Then, when users interact with whitelisted contracts, the network uses gas quotas instead of ETH from users' wallets. This way, we achieve gasless transactions: users can swap USDT for LL on DEX, claim or mint NFTs, play Web3 games, and more without holding ETH in their wallets.

Enterprise Mode simplifies user onboarding from Web2, as a combination of custodial wallet and gasless transactions can completely hide the blockchain from the users, enabling them to benefit from Web3 tech without facing technical complexities.

For enterprises and projects, Enterprise Mode allows them to predict their gas fees based on their users’ activity and fix the fees in fiat equivalent.

## Q3: How is LightLink different from other L2s?
LightLink utilizes an Optimium architecture design with proprietary tech. Regular L2s based on Optimistic Rollups store transactions on L1, while LightLink stores them on a separate Data Availability layer and posts only L2 block headers to L1.

DA storage fees are 10-100 times cheaper than on L1, so LightLink manages to store transactions for a fraction of the cost. A separate DA allows us to upload data faster and achieve a maximum of 10,000 transactions per second to onboard millions of users. Also, L2 headers that LightLink posts on L1 have a fixed size, so the storage fee for L1 doesn't depend on network activity.

These features allow us to offer <$0.01 gas fees at any time, no matter how high the activity is on the LightLink network.

## Q4: How would you describe LightLink's tokenomics?
We designed tokenomics to be community-oriented. In December, we cut the private investors' allocation from 20% to 14% and the team allocation from 17% to 14% to increase the community airdrop allocation from 2.5% to 6%.

Then we eased lockups for Airdrop participants: Phase 1 participants received 20% of their allocation at TGE and 80% vested for the period they chose themselves. We are thrilled to state that 65% vested their $LL tokens for a year!

Now, only 8% of $LL is in circulation. The team has its tokens locked for 15 months, while VCs have a 12-month cliff, both followed by 18-month vesting.
## Q5: Could you tell us more about the upcoming node NFTs sale?
Node NFTs are NFTs issued by LightLink. To run a validator node, users must hold node NFTs in their wallets - it's simple. Node NFTs will be sold for LL tokens which should increase LL utility. Also, the nodes will come in different rarities with additional benefits based on them.

Nodes will help us simplify staking and delegation while limiting the number of validators, which is crucial for L2s.
We're also running a lock-and-earn campaign with Gate.io, and we're working on more staking campaigns as we speak.

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<div>Author:** GateLive**, Gate.io Team
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
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