AltLayer Unveils ALT Token Launch on Binance

AltLayer, the decentralized protocol for restated rollups, has unveiled plans to launch its native ALT token through Binance Launchpool next week. Users on Binance can stake BNB and FDUSD stablecoin to farm ALT tokens for six days starting Friday at 00:00 UTC. They will list the utility token on Jan 25 at 10:00 UTC, featuring trading pairs such as ALT/BTC, ALT/USDT, ALT/BNB, ALT/FDUSD, and ALT/TRY.

In Binance Launchpool, 500,00million part of which is equivalent to the total percentage of ALT token supply amounting to ten billion. AltLayer has also planned an airdrop for early project supporters, such as NFT holders and campaign members. On 17 Jan, a snapshot will determine eligible, qualified addresses; further details will be released later.

The community characterizes the initial airdrop as its first wave. Additional distributions to wider ecosystem partners are planned in the following months. However, residents in the United States cannot partake in airdrop or ALT token farming.

AltLayer’s protocol focuses on restated rollups, including OP Stack, Arbitrum Stack, ZKStack, and Polygon CDK’s existing rollup networks. It also incorporates EigenLayer’s staking mechanism. Goal: Improves network security and decentralized networks.

ALT Token: Rewards & Fees in Decentralized Network

The project’s native utility token, ALT, acts as an economic guarantee that actively supports a position that is managed to be decreased if any malignant behavior takes place. Token holders have governance participation rights, and operators receive ALT rewards. Network participants pay protocol fees in the form of ALT.

AltLayer raised $22.8 million in private token sales or 18.5 % of the ALT total supply. The group underlines that this airdrop is only the first one, implying further drops for restockers and Celestia stakes. The project aims to prioritize creating a strong decentralized network characterized by diversity. We will achieve this by introducing several token initiatives and fostering active community participation.

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