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Manta was first launched on Binance and attracted much attention. It went straight to 3u after it was launched. Congratulations to the partners who participated in the first-level Manta community. They recognized 0.15 and won 30 times again. This rising star did not disappoint everyone. Time has given the answer. Look for the Wall Street Crypto Research Institute!
AltLayer (ALT) will be listed on Binance soon
This Launchpad has many highlights. In 2022, AltLayer received its first round of financing from well-known VCs and institutional founders such as Jump Crypto, Polkadot founder Gavin Wood, former Coinbase CTO and former a16z partner Balaji Srinivasan, etc. In the three rounds of testnets, AltLayer has been very popular and has developed a prosperous development. Let's learn about this project together.
Project Description
AltLayer is a decentralized, elastic Raas protocol. Its core network Beacon Layer builds a codeless Rollups-as-a-Service dashboard that enables developers to quickly customize Rollups with fraud and zero-knowledge proofs. In addition, AltLayer also integrates the innovative concept of Restaked Rollups.
Main process of the project
In October 2022, Ethereum scaling project AltLayer launched the Alpha developer network, where developers can try to deploy Solidity contracts and test cross-chain solutions.
In April 2023, AltLayer's Rollups-as-a-Service announced support for the L3 blockchain Arbitrum Orbit. Users can launch any L3 application bound to Arbitrum in minutes through code-free tools.
In May 2023, AltLayer announced the launch of the multi-sorter testnet Rollup, promising to mitigate censorship and enhance the security and usability of Rollup.
In July 2023, Ethereum scaling project AltLayer announced that more than 100,000 Flash Layers had been deployed as part of the third phase of Altitude.
project financing
AltLayer was founded by Yaoqi Jia, the former CTO of Zilliqa. In July 2022, AltLayer completed a $7.2 million seed round of financing led by Polychain Capital, Jump Crypto and Breyer Capital, with participation from Polkadot founder Gavin Wood, former Coinbase CTO and former a16z partner Balaji Srinivasan, Circle co-founder Sean Neville, and Synthetix and Bodhi Ventures co-founders Kain Warwick and Jordan Momtazi.
In addition, AltLayer won the third prize in BNB Chain's European Innovation Incubator Project in 2022 and received investment from Binance Labs in August 2023.
Token Economics
The total amount of ALT is 10 billion, 18.5% of which is allocated to investors, 5% to Binance Launchpool, 15% to the team, 5% to strategic advisors, 20% to protocol development, 21.5% to the treasury, and 15% to the ecosystem and community.
In addition, Binance Research reported that AltLayer raised $22.8 million through two rounds of private token sales, of which 18.50% of the total ALT was sold at 0.008 USDT and 0.018 USDT respectively.
Summarize
Binance has recently launched a lot of new products. Have you noticed? This is a very good phenomenon, because everyone knows that the first Binance tokens can get results. At present, Binance's various new products are springing up, which perfectly corresponds to the next market explosion!
The primary market is currently experiencing unprecedented heat. Ethereum is rising, and Starknet, as the leading center of L2, is naturally attracting much attention. The zk (zero-knowledge proof) series, zks, linea, and stark all belong to this series. The current valuation of starknet has reached tens of billions, and it will definitely be a dazzling star when it goes online!
V God Ethereum Foundation has strongly supported it and is currently actively participating. What kind of surprises will Binance OKX bring in March? Please see below!
@Starknet from the ZK-Rollup camp is about to launch the $STRK token. The launch time is expected to be March 2024, when the STRK token will be used as TX fee in the mainnet operation process. Look forward to it.
01
Project Introduction and Vision
StarkWare is a solution developed based on STARK's zero-knowledge proof technology and focused on the blockchain industry. It is committed to promoting the development of secure, trustless and scalable blockchain applications to ensure a safe, fast and seamless user experience on Ethereum.
StarkWare has developed two products, StarkEx and StarkNet. StarkEx is an independent licensed Validity-Rollup (also known as "ZK-Rollup"); StarkNet is a permissionless decentralized ZK-Rollup.
Starknet runs as an L2 network on Ethereum, enabling any dApp to achieve unlimited computational scale - without compromising Ethereum's composability and security, first of all due to Starknet's reliance on STARK, the most secure and scalable cryptographic proof system;
Secondly, Starknet contracts and Starknet operating system are written in Cairo language, which can support the deployment and expansion of any use case.
02
Features and advantages
When asked about the features and advantages of the project in a media interview, Eli Ben-Sasson, co-founder of StarkWare, replied: StarkWare has a first-mover advantage in terms of the huge transaction volume and carrying capacity among all L2 solutions. In addition, the ZK-STARK system and the Turing-complete Cairo programming language are regarded by the team as the advantages of the StarkWare project that distinguish it from other Layer2 public chain projects.
Huge transaction volume and carrying capacity
According to StarkWare’s official website, as of May 4, 2023, the current cumulative transaction volume of the StarkWare project is US$947 billion, and the total locked value (TVL) is 552 million.
Compared with the Polygon project, which is known for its rich ecological scale, according to its official website, Polygon's current cumulative transaction volume is US$2.44 billion.
In January 2018, StarkWare raised $6 million in seed round financing from investors including Ethereum founder Vitalik Buterin (V God), Paradigm, Pantera Capital PolyChain;
In July 2018, the Ethereum Foundation invested $12 million in StarkWare;
In October 2018, the company raised USD 30 million in Series A financing, with Sequoia, Paradigm, Scalar Capital, Multichain Capital, Intel Capital, Semantic Ventures, Pantera and others participating in the investment;
On March 24, 2021, the B round of financing was US$75 million, with Sequoia, Wing Venture Capital, Paradigm, and Pantera Capital continuing to participate in the investment, including Three Arrows Capital, DCVC, etc.;
In November 2021, it raised US$50 million in Series C funding with a valuation of US$2 billion, led by Sequoia Capital, with participation from well-known crypto venture capital firms such as Paradigm, Three Arrows Capital, and Alameda Research.
On May 25, 2022, StarkWare completed a $100 million Series D financing round with a valuation of $8 billion. This round of financing was led by Greenoaks Capital, Tiger Global and other institutions, and the funds raised will be used for product and business development and ecosystem development.
03
Foundation and Tokens
StarkWare believes that although StarkNet is mature and secure in terms of technology, it still needs to be more decentralized so that it can achieve the status of a public good like Ethereum. The StarkNet Foundation will grant StarkNet a one-time token grant to maintain public goods as a non-profit organization.
The StarkNet token is used to operate, maintain and protect this ecosystem. It will be used in governance, transaction payments and participation in consensus mechanisms.
StarkNet Token Distribution
04
Starknet Funding
Currently, Starknet's company Starkware has disclosed a total of 7 rounds of financing, with a total financing amount of US$273 million, and a valuation of US$7.9 billion in the D round of financing.
Among them are many venture capital funds that we are familiar with, such as Sequoia Capital, Tiger, Paradigm, Coinbase, etc. In the seed round, Vitalik Buterin and the Ethereum Foundation also participated in the financing. The financing lineup is very luxurious.
05
Team Information
According to the official website, there are currently 78 employees, 7 technical consultants, and 5 traditional consultants. The two founders, Ben, have in-depth research in cryptography and zero-knowledge proof. He is also the co-inventor of Stark and Zerocash protocols and the founding scientist of Zcash. The other founder is a serial entrepreneur who has founded many technology companies and has rich entrepreneurial and corporate management experience. The team has comprehensive capabilities.
06
Summarize
StarkNet Advantages
Unlike other ZK rollups like zkSync, StarkNet is not a “zkEVM” — meaning smart contracts (which power your favorite Dapps on Ethereum like Uniswap and OpenSea) must be written in StarkNet’s own programming language, Cairo.
Cairo is a very powerful language that is optimized for ZK rollups. It allows you to do everything you can do on the EVM, and more, because the computational cost is much lower.
This creates entirely new possibilities that were not possible on the blockchain before, such as true blockchain gaming!
StarkNet quota is extremely scarce. There are only two factions on Ethereum Layer 2, one is the OP series: OP and ARB belong to the OP series! The other faction is the ZK (zero-knowledge proof) series, ZKS, Linea, Stark all belong to this series. At present, the valuation of StarkNet has reached 10 billion, and it will definitely be a dazzling star when it goes online!
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