L1Q — Layer 1 Quality Index

Uniting the power of the biggest blockchain solutions

tl;dr: Longdrink is launching its second index $L1Q, offering diversified exposure to major blockchain architecture. You can start staking its underlyings from tomorrow, 30th July, and $L1Q will launch one week later on 6th August.

Dear customers of the bar,

as loyal diversifiers, you’ve been sipping on $BEV for a while now. Being the curious minds that you are, a request we regularly overheard at the counter was the one for more drinks, more diversification, more indices.

Of course, the bar staff wants nothing more than to respect your unquenchable thirst — after all, that’s what we’re here for. As we were busy trying out new recipes, shaking up some drinks along the way, we distilled one creation that particularly stood out. We want to get it out to you asap, and couldn’t be more excited to serve you this behemoth of a drink in our bar.

That being said, we are proud to unveil our newest index, complimenting $BEV as our menu of longdrinks is being expanded. Everyone, welcome $L1Q, our Layer 1 Quality Index.

$L1Q — Layer 1 Quality Index

L1Q — Layer 1 Quality Index

$L1Q provides you with a diversified position in all major Layer 1 solutions, combining eight tokens from the likes of BTC, ETH and DOT in one product.

Talks of “Ethereum killers” and “the new chain on the block” have been making rounds ever since — cutting through the noise and distinguishing actual signals from clutter is among the hardest tasks in an industry that is dynamic as this one.

We see $L1Q as another great addition to our product suite, standing side-by-side with $BEV. Whilst $BEV is your gateway drink to get into DeFi on BSC, $L1Q exposes you to the whole megatrend of blockchain architecture.

Who’s in? 🎭

$L1Q captures the growth of Layer 1 solutions. For a low mint/burn fee of 0.75%, you will gain exposure to the native tokens of eight major layer 1 solutions. These tokens are BTC, ETH, BNB, ADA, XRP, DOGE, DOT, and LTC.

$L1Q is market-cap weighted, with allocations having been initialized at a price of $100 per $L1Q, and a weight cap of 25% per underlying, resulting in the relative distribution visualized below.

Initial allocations of $L1Q with market-cap weighting and employing a 25% weight cap

Launch Timeline 💣

Operation Bombshot: $L1Q Edition starts 30th July, at 2PM EST

Similar to our first drink, the launch of $L1Q will involve what we dub Operation Bombshot. For those of you that have participated in our hugely successful first bombshot (migrating over $1.5m in liquidity over to $BEV), you know what to expect. For those of you that haven’t heard about it:

For one week only, Operation Bombshot will enable you to receive rewards in $LONG, Longdrink Finance’s official governance token, for staking the underlyings of $L1Q on our website. That means you can stake your BTC, ETH, BNB, ADA, XRP, DOGE, DOT and LTC as well as their corresponding Pancakeswap LP tokens, and receive $LONG as the bombshot progresses.

At the end, all staked assets will be migrated, and you will receive an equal amount of $L1Q in return for your staked assets. Loyal stakers staying through the migration of Operation Bombshot will be able to claim additional $LONG after the migration has been completed.

You can read more about bombshots in our previous articles on the topic here, here and here.

To further entice bombshot participation, all $L1Q received through the migration will enjoy a reduced mint fee of 0.5%, allowing you to invest into Layer 1 solutions at even more attractive conditions.

$L1Q will be launched with the end of Operation Bombshot on 6th August at 2PM UTC, after which you can regularly mint it on our website and trade it on the open market, just like you are used to with $BEV.

We are excited to get this new drink in your hands, and have you sipping on both $BEV and $L1Q soon.

Turn diversions into diversification. Get $L1Q on Longdrink.finance!

Safety first 💂

$L1Q builds upon the safest, most trusted blockchain protocols. Changes to index composition & additional strategies can be chosen by the community. You can join the discussion on Discord.

Expand the menu 📋

As always, Longdrink Finance intends to create more community-governed drinks to improve the intoxication of this space.

For any future drinks you want to see, spearhead the discussions in our socials and get involved in our Discord and Telegram.

So $LONG, everyone!

Feel free to contact us through our socials (links below).

Links 🔗

Twitter: https://twitter.com/LongdrinkDefi

Discord: https://discord.gg/an55rkyDG3

Telegram: https://t.me/LongdrinkFinance

Github: https://github.com/longdrinkdefi

Docs: https://docs.longdrink.finance

Governance: https://vote.longdrink.finance

Website: https://longdrink.finance

Email: longdrinkfinance@protonmail.com

Longdrink Finance creates index tokens on Binance Smart Chain