Fellow Binancians,
Binance is excited to announce the 45th project on Binance Launchpool - AltLayer (ALT), a platform to launch native and restaked Rollups with both Optimistic and ZK Rollup Stacks. The webpage is estimated to be available in 24 hours, before the Launchpool starts.
Users will be able to stake their BNB and FDUSD into separate pools to farm ALT tokens over six days, with farming starting from 2024-01-19 00:00 (UTC).
Listing
Binance will then list ALT at 2024-01-25 10:00 (UTC) and open trading with ALT/BTC, ALT/USDT, ALT/BNB, ALT/FDUSD and ALT/TRY trading pairs. The Seed Tag will be applied to ALT.
ALT Launchpool Details:
Token Name: AltLayer (ALT)Max Token Supply: 10,000,000,000 ALT Launchpool Token Rewards: 500,000,000 ALT (5% of max token supply)Initial Circulating Supply: 1,100,000,000 ALT (11% of max token supply)Smart Contract Details: BNB Chain, EthereumStaking Terms: KYC required
Hourly Hard Cap per User: 277,777.77 ALT in BNB pool69,444.44 ALT in FDUSD pool
Supported Pools:
Stake BNB (webpage will be available in around 24 hours): 400,000,000 ALT in rewards (80%) Stake FDUSD (webpage will be available in around 24 hours): 100,000,000 ALT in rewards (20%)Farming Period: 2024-01-19 00:00 (UTC) to 2024-01-24 23:59 (UTC).
ALT Farming Distribution
Dates (00:00:00 - 23:59:59 UTC each day)Total Daily Rewards (ALT)BNB Pool Daily Rewards (ALT)FDUSD Pool Daily Rewards (ALT)2024-01-19 - 2024-01-2483,333,333.3366,666,666.6616,666,666.66
Read about AltLayer (ALT) in our research report here, which will be available within 30 minutes of publishing this announcement.
Project Links
Website: https://altlayer.io/
Whitepaper: https://docs.altlayer.io/
X: https://twitter.com/alt_layerDiscord: https://discord.com/invite/altlayer Telegram: https://t.me/altlayerMedium: https://blog.altlayer.io/
Please note:
Snapshots of user balances and total pool balances will be taken multiple times at any point of time each hour to get users’ hourly average balances and calculate user rewards. User rewards will be updated each hour. Users will be able to accumulate their rewards (calculated each hour) and claim these rewards directly to their spot accounts at any time.Each pool’s annual percentage yield (APY) and total pool balance will be updated in real time.Tokens can only be staked in one pool at a time. For example, User A cannot stake the same BNB into two different pools at the same time, but can allocate 50% of their BNB into pool A and 50% into pool B.Users will be able to unstake their funds at any time with no delay and participate in any other available pools immediately.Tokens staked in each pool and any unclaimed rewards will be automatically transferred to each user’s spot accounts at the end of each farming period.Binance BNB Vault and Locked Products will support the Launchpool. Users who have staked their BNB in BNB Vault and Locked Products will automatically participate in the Launchpool, and receive new token rewards.If there are more than one Launchpool projects running concurrently, users' BNB assets in BNB Vault and Locked Products will be split and allocated into each project equally unless otherwise specified.BNB Vault assets collateralizing against Binance Loans (Flexible Rate) are not entitled to Launchpool rewards.BNB staked into Launchpool will still provide users with the standard benefits for holding BNB, such as airdrops, Launchpad eligibility and VIP benefits.
Participation in Launchpool is subject to eligibility based on the user's country or region of residence. Please refer to the instructions on the Launchpool page.
Please note that the list of excluded countries provided below is not exhaustive and may be subject to changes due to evolving local rules, regulations, or other considerations.Users need to complete their account verification and also be from an eligible jurisdiction to participate in farming ALT.
Currently, users residing in the following countries or regions will not be able to participate in farming ALT: Canada, Cuba, Crimea Region, Iran, Japan, New Zealand, Netherlands, North Korea, Syria, United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands) and any non-government controlled areas of Ukraine
This list may be updated periodically to accommodate changes in legal, regulatory, or other factors.
Note: There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
Thank you for your support!
Binance Team
2024-01-17

AltLayer is a project having strong fundamentals, similar to $TIA , and is one that has a viable idea and a narrative that addresses market challenges. Read this article now and consider investing in AltLayer 👇
1. What is #AltLayer ? 🔥
In simple terms, $ALT Layer is a tool that allows both developers and non-technical individuals to create a custom rollup in just 2 minutes with a few simple mouse clicks. This tool is called the Rollups-as-a-Service model (RaaS), which is flexible and does not require coding skills.
One interesting aspect of AltLayer is that it is designed for multi-chain and multi-virtual machine environments, supporting both EVM (Ethereum Virtual Machine) and WASM (WebAssembly). It is compatible with various SDK (Software Development Kit) rollup frameworks such as OP Stack, Arbitrum Orbit, Polygon zkEVM, ZK Stack by zkSync, and StarkWare.
👉You guys should research more about RaaS model to know how it works!

2. Tokenomics 🤖
Some basic metrics about $ALT
Total supply: 10,000,000,000 ALTLaunchpool: 500,000,000 ALT (5%)Initial circulating supply: 1,100,000,000 ALT (11%)Token Release schedule as shown in the image below:

3. Funds & Backers 🐳🦄
a. Funds
Investment funds come from all tier-1 investors with a strong presence in crypto, such as
Polychain Capital, Binance Labs, Jump Crypto, Breyer Capital, DAO5, Balaji Srinivasan (former CTO of Coinbase and former GP at a16z), Gavin Wood (Co-Founder of Ethereum, Parity), Sean Neville (Co-Founder of Circle), and Ryan Selkis (Founder of Messari)...
b. Backers
Up to now, AltLayer has partnered with more than 30 projects, including prominent names such as Ethereum, CelestiaOrg, Eigen Layer, Injective, RiscZero, NEAR, Biconomy, etc.
It has a large community, and its media channels have good engagement with over 500k followers.
4. Seed rounds and Listing Price Prediction
AltLayer raised $22.8M in two rounds
18.50% sold for $0.008/$ALT (fully diluted valuation of $80M)$0.018/$ALT (fully diluted valuation of $180M).
👉Key milestones to note:
Market Cap of $200M => price of $0.18/$ALTMarket Cap of $150M => price of $0.136/$ALTMarket Cap of $100M => price of $0.09/$ALTMarket Cap of $50M => price of $0.045/$ALT
To put it into perspective, if $XAI raised funding through 3 rounds with a fully diluted valuation ranging from $25M to $85M and listed on an exchange with an all-time high market cap of $300M, AltLayer would potentially have a much higher valuation.

$ALT is currently being traded OTC at around $0.3 with a market cap of approximately $300M.
👉 Therefore, the public price could potentially range from $0.25 to $0.5.
5. Other information
The allocation rate for AltLayer's airdrop is as follows:
72.5% of the airdrop is dedicated to NFT holders and campaign participants. This portion is primarily intended for OG (original) holders and participants in the modular narratives. Therefore, the likelihood of a significant sell-off is not high.17.54% of the airdrop is reserved for EigenLayer stakers. As EigenLayer is set to list, there may be criteria for receiving $ALT rewards for staking EigenLayer.$ALT is required as a fee for using services on the protocol. This creates an incentive for accumulation and staking to receive EigenLayer rewards and participate in the pump for modular narratives and restaking. Selling pressure is expected to come from a portion of the Launchpool and retailers.

6. Conclusion
This project is quite "smart" in leveraging the tooling developed by other partners. It builds upon the foundations laid by major projects. Have you participated in staking BNB to receive the $ALT airdrop yet?
AltLayer ($ALT) will be listed on Binance Spot at 10:00 UTC today, January 25, 2024. You should DYOR deeper into the project to fully assess its potential.

#ALT #AltLayerLaunch