ALT is listed on Binance and surges by 5000%. What is AltLayer? Features, Token Economy, How to Apply for Airdrops

The 45th new currency mining project AltLayer (ALT) released by the exchange Binance last week has been opened for trading on time at 18:00 Taiwan time yesterday (25th) evening.

The increase at the opening was astonishing, soaring over 5000% from US$0.006, reaching a high of US$0.349 late at night, and was still fluctuating at a high of US$0.312 at the time of writing. The moving area reminds that the token fluctuates violently, please be careful of investment risks.

What is AltLayer (ALT)?

According to Binance Research Report, AltLayer is an open decentralized protocol designed specifically for rollups. Its core network builds a Rollups-as-a-Service (Raas) dashboard, which uses Optimistic and ZK Rollup stacks to enable Developers can quickly customize Rollups with fraud proofs and zero-knowledge proofs.

In addition, AltLayer also uses the "Restaked Rollups" re-pledge mechanism to enhance its security, decentralization, interoperability and convenience. Its core product consists of three key components:

VITAL: An Active Validation Service (AVS) where the operator will verify blocks and corresponding states submitted by the rollup sequencer and raise fraud proof challenges if necessary

MACH: This is a protocol that allows operators to re-stake Ethereum-based assets to support any claim on rollup status, providing faster rollups finality

SQUAD: This section provides decentralized sorting with economic support to facilitate the elimination of short-term viability issues, bad MEV, rent extraction, and other issues associated with rollups operated by a single sorter

Officially open for AltLayer airdrop applications

Facing the airdrop plan of early supporters, AltLayer has been able to officially open applications at 5 pm Beijing time on the 25th. This time users do not need to sign the wallet, but only need to post the address. The application period will last for one month until February 25th.

Airdrop targets include: AltLayer OG Badge NFT holders, Oh Ottie! NFT holders, Altitude event qualified participants, qualified EigenLayer restakers and Celestia stakers.

AltLayer Token Economics

According to the official description:

The total amount is 10 billion, and the initial circulation is 1.1 billion.

18.5% of total investor allocation

Binance Launchpool allocates 5%

Development team allocates 15%

Strategic Advisor Allocation 5%

Protocol Development Allocation 20%

Treasury allocation 21.5%

Ecosystem and Community Allocation 15%

Public account: Crypto Bear $BTC $ETH $ALT #ALT #BTC #ETH #rollup