On the evening of July 1, 2022, AltLayer announced the completion of a 7.2 million seed round of financing. At that time, it immediately tweeted to everyone to rush forward. The scene was vivid in my mind.
After a year and a half, AltLayer finally landed on Binance. Congratulations to those who persisted.
On the eve of the celebration, you might as well re-understand this important infrastructure of the Ethereum ecosystem. (Reference: https://www.binance.com/en/research/projects/altlayer )
1) Project introduction
AltLayer is an open and decentralized rollup protocol that provides enhanced security, decentralization, and interoperability by adopting Rollup stacks (such as OP Stack, Arbitrum Orbit, ZK Stack, etc.) on the one hand, and on the other hand through EigenLayer's The re-pledge mechanism improves economic security and also lays the foundation for the stability and sustainability of the network.
Official website: https://altlayer.io/
2) Financing situation
In July 2022, AltLayer completed a 7.2 million seed round of financing, led by Polychain, Jump Crypto and Breyer Capital, with participation from industry leaders such as Polkadot founder Gavin, former Coinbase chief technology officer and former a16z partner.
Since then, AltLayer won the third prize of BNB Chain’s European Innovation Incubator Project in 2022, and received investment from Binance Labs in August 2023.
3) Core products
VITAL: Active verification service that helps operators verify the corresponding status of blocks and summary sequencer submissions, and raise fraud proof challenges when necessary.
MACH: Provides faster finality to rollups by allowing operators to re-hold Ethereum-based assets to support any claim on rollup status.
SQUAD: Provides decentralized sequencing with economic support to eliminate short-term activity problems, bad MEV and other problems.
4) Ecological status quo
As a modular Ethereum expansion solution, AltLayer provides a fully open execution environment, supports on-demand expansion, gives developers more flexible application space, and has reached cooperation with many agreements.
It should be noted that there are many star projects in these protocols such as EigenLayer, and it is not ruled out that they will provide benefits to $ALT stakers in the future.
5) Token information
Total amount: 10 billion
Initial circulation: 11%
Two rounds of private placement price: US$0.008/0.018
Token allocation: Binance Launchpool-5%; Team-15%; Investors-18.5%; Advisors-5%; Protocol Development-20%; Ecosystem and Community-15%; Treasury-21.5%
Note: Binance Lanchpool will be closed on the 25th
Portal: https://t.co/wv8B7j1NdT
6) Airdrop range
AltLayer has completed the snapshot at 12:00:11 AM on January 17 (Ethereum block height 19022890). Airdrop targets include AltLayer OG Badge NFT holders, Oh Ottie! NFT holders, Altitude event qualified participants, qualified EigenLayer restakers and Celestia stakers.
Official document: https://blog.altlayer.io/altlayers-alt-token-launch-f49bf8ac2556
7) Currency price prediction
Compared with several previous projects that debuted on Binance, AltLayer is obviously more popular in the community and has a wider airdrop coverage. Right now, the biggest concern is undoubtedly the $ALT price. It is recommended to take a look at the market value comparison chart made by Shapolang.
