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AltLayer has introduced its restaked ALT (reALT) token as the rollup platform begins the second phase of its staking program.
Restaked ALT is an auto-compounding ERC-20 token issued to users staking ALT in AltLayer’s main staking pool. AltLayer is a decentralized protocol that enables developers to create rollups from software stacks such as OP Stack, Arbitrum, and Polygon CDK, described as rollup-as-a-service. Important changes in phase two include the deprecation of the initial Xterio LaunchPool, with a new reALT-powered pool taking its place, enabling existing stakers to immediately withdraw and migrate. The main ALT staking pool also currently enables immediate withdrawals, though the cooldown period will be reinstated to 21 days, seven days after the start of phase two, the team said.
