#ALT About Altlayer
#ALTLayer is an open and decentralized protocol for rollups. AltLayer brings together a novel idea of Restaked Rollups which takes rollups (spun from any rollup stack such as OP Stack, Arbitrum Orbit, Polygon CDK, ZK Stack, etc.) and provides them with enhanced security, decentralization, interoperability and crypto-economic fast finality by leveraging restaking mechanism.
ALT is AltLayer's native utility token and is used in the following functions:
Economic bond: ALT token will be used alongside restaked assets to provide economic stake. This stake can be slashed if a malicious behavior is detected.
Governance: ALT token holders can vote on governance decisions.
What is AltLayer?
AltLayer is a decentralized protocol that enables developers to create rollups from software stacks such as OP Stack, Arbitrum Stack, ZKStack, and Polygon CDK, described as rollup-as-a-service.
The project also plans to introduce what are known as “restaked rollups” — Layer 2 projects that leverage EigenLayer’s restaking mechanism to bootstrap network security.
ALT token holders will have the ability to participate in the project’s governance. Furthermore, network participants will be required to pay protocol fees using the tokens.
So far, 100.7 million tokens have been claimed by over 29,000 wallets, accounting for 33% of the total airdrop amount. Among these, the top ten addresses received roughly about 4.8 million tokens.
AltLayer has previously raised $22.8 million from two rounds of private token sales, accounting for 18.5% of the total ALT token supply.
Altlayer Price
According to the current market situation, the price could be a maximum of $1.14 by 2026, and minimum price down to $1.08. That being said, the average ALT price could anchor at $1.10.
