Binance has announced AltLayer (ALT) as the 45th project on its renowned Binance Launchpool. AltLayer is not just another blockchain initiative; it represents a significant leap in rollup technology. As an open and decentralized protocol, AltLayer spearheads the concept of Restaked Rollups. This innovative approach combines existing rollup stacks like OP Stack, Arbitrum Orbit, and Polygon CDK with enhanced security, decentralization, and interoperability. The unique selling point of AltLayer lies in leveraging the restaking mechanism for crypto-economic fast finality.
What is ALT Token?
ALT, the native utility token of AltLayer, plays a multifaceted role in the ecosystem. It serves as an economic bond, requiring staking alongside restaked assets to provide economic security, with a mechanism to slash stakes in case of malicious behavior. Moreover, ALT token holders are vested with governance rights, allowing them to make pivotal decisions about the protocol’s future. The token also incentivizes protocol operators for their services and is used for paying intra-network services fees.
What are the Core Offerings of AltLayer?
AltLayer’s core offering revolves around three key products:
- VITAL: An Actively Validated Service (AVS) enabling operators to verify blocks and state commitments by rollup sequencers and to raise fraud-proof challenges.
- MACH: A protocol that accelerates the finality of rollups by allowing operators to restake Ethereum-based assets.
- SQUAD: This service offers decentralized sequencing, thereby addressing issues like liveness concerns and bad MEV, which are prevalent in rollups with single sequencers.
Additionally, AltLayer introduces the concept of Ephemeral Rollups. These are tailor-made for dApp developers expecting a surge in demand, enabling them to quickly spin up scalable rollups secured by Layer 1, and then dispose of them post-usage.
Alt Token Sales, Funding, and Economics
AltLayer has impressively raised 22.8MM USD from two rounds of private token sales. The investor list is illustrious, featuring names like Polychain Capital, Binance Labs, TRGC, Jump Crypto, and notable individuals like Balaji and Gavin Wood in the crypto space. With a total supply of 10,000,000,000 ALT and an initial circulating supply of 1,100,000,000 ALT (11% of the total), the token economics are designed to support sustainable growth.
Binance Launchpool: How to Farm ALT on Binance?
Binance’s Launchpool presents an enticing opportunity for users to farm ALT tokens by staking BNB and FDUSD.
With the allocation of 500,000,000 ALT (5% of the total supply) for Binance Launchpool, it offers a straightforward avenue for participants to get involved in the AltLayer ecosystem.
Farming Details
- Staking Terms: KYC required
- Supported Pools: Stake BNB for 400,000,000 ALT rewards, Stake FDUSD for 100,000,000 ALT rewards
- Farming Period: January 19 to January 24, 2024
ALT Token Listing
ALT token is getting listed on Binance.
- Date: January 25, 2024
- Trading Pairs: ALT/BTC, ALT/USDT, ALT/BNB, ALT/FDUSD, ALT/TRY
Other than Binance, many other crypto exchanges will be listing Alt on the first day.
Roadmap and Updates: What’s Next for AltLayer?
AltLayer’s roadmap is ambitious, with milestones like the RaaS launchpad private launch, support for multiple sequencers, and integration of restaking with ephemeral rollups.
The upcoming testnet launches and mainnet supports for various technologies are eagerly anticipated.
Key Milestones:
- Integration with Arbitrum Orbit and Celestia
- Launch of game-dedicated rollup SDKs
- Expansion of support for non-EVM rollups
Altlayer Partnerships
AltLayer has already formed strategic partnerships with entities like EigenLayer and RISC Zero. I
ts clientele includes innovators in the gaming and blockchain sectors, such as Cometh and Double Jump Tokyo. These collaborations highlight AltLayer’s potential to redefine the rollup landscape.
ALT Airdrop Criteria: Are you eligible?
AltLayer is conducting an airdrop for its early supporters, targeting AltLayer OG Badge NFT holders, Oh Ottie! NFT holders, participants of Altitude campaigns, EigenLayer restakers, and Celestia ($TIA) stakers.
Note: If you would like to learn about how to get airdrop staking Celestia and ATOM in 2024, I highly recommend you to read this article: Cosmos Ecosystem Airdrop – Complete Guide
Eligibility excludes individuals from sanctioned regions, and the airdrop distribution will align with the ALT token listing. A snapshot for determining eligible addresses was taken on January 17, 2024, at Ethereum block number 19022890. This gesture by AltLayer aims to reward the contributions of its early community members.
Summary table for ALT token airdrop:
Conclusion
AltLayer (ALT) stands at the forefront of rollup technology, promising to transform how blockchain networks handle scalability and security. With its advanced framework and robust partnerships, AltLayer is poised to be a game-changer in the blockchain world. As it debuts on Binance Launchpool, it represents not just an investment opportunity but a glimpse into the future of blockchain technology.
I might invest in ALT once the token lists on Binance and takes a dump, because of the airdrops.
