L_ Token is a kind of asset deposit certificate. After you deposit the asset, according to the contract agreement, you will get L_ Token.For example, if you deposit the BUSD-T (USDT based on BSC), it will generate L_ BUSD-T. You can see it in your wallet, which is a BSC based token.
Token: The exchange rate of L_Token is usually 1:50. For example, if you deposit 100 BUSD-T (USDT based on BSC), you will get 50,000 L_BUSD-T. When Token starts to flow into the market, this exchange rate will produce a certain dynamic change based on the total amount and proportion of lending asset pools in the Layer deposit contract. But this change will not affect your earnings.
L_Token can be transferred and traded, but this is not recommended. When the amount of L_Token in your account decreases, it means that your deposit certificates are reduced, it means that the number of certificates of your deposit decreases. Deposits without certificates will not be recognized, which means that your deposit decreases.