AltLayer launches reALT token for phase 2 staking program. Join us to find out what's special about this phase 2, is $ALT likely to increase in price?
- What is reALT?
reALT is an auto-aggregated ERC20 token, designed to collect the holder's staking contribution and accumulate the resulting compound interest rewards. This token will be issued to users participating in staking $ALT in AltLayer's main staking group.
- What is stALT?
stALT is a token that represents the staking contribution of the holder in the main staking pool. This token can be manually converted to reALT through the AltLayer portal.
- Role of reALT:
+ Once released, reALT can be delegated to multiple Launchpools involved in Rollup reStake, such as the Xterio pool.
+ AltLayer will periodically take snapshots of real ALTs and use them to calculate future pool rewards.
- Important changes:
+ This Phase II brings important changes, including deprecating the original Xterio LaunchPool and replacing it with a new pool staked by reALT, allowing existing stakers to withdraw and transfer immediately instantly.
+ The main ALT stake pool is also allowing instant withdrawals. However, a waiting period of 21 days will apply to receive the withdrawal amount.
+ In the future when AltLayer launches more restaked rollups there will be more pools like Xterio, so reALT was launched to increase the ability to participate in multiple pools simultaneously, allowing maximum access to the rewards of the another restored rollup.
+ The new staking design through reALT brings benefits summarized as:
+ Automatically accumulates ALT staking rewards.
+ Eliminates the need to unstake from the main ALT stake pool to join the LaunchPool, thus maximizing APY from staking.
+ Instead of staking ALT tokens, users now need to stake reALT to earn more rewards from the pools.
+ To determine the reward received, the system will regularly snapshot the reALT balance then calculate and decide the reward for the user.
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