At the beginning of the year, Altlayer airdrop was launched. Early interactive users held OG Badge and Oh Ottie! NFTs and received hundreds of thousands of ALT airdrops, earning lucrative returns.
Chuxiao Chain also received a minimum living allowance airdrop due to staking TIA and was eligible to receive 240 ALT, but due to negligence, it did not pay attention to the deadline for collection and lost $80 in vain.
Recently, Altlayer launched reALT and started the second phase of the staking plan. Let’s learn how to participate in the Altlayer re-staking gameplay.
What is Altlayer?
AltLayer (ALT) is a decentralized, elastic Rollup-as-a-Service (RaaS) protocol dedicated to providing highly scalable Layer 2 solutions for blockchain applications.
ALT was established at the end of 2021. It has helped more than 40 projects to customize and release exclusive application chains based on rollup technology, and assisted projects such as Xterio and SWELL to release Restaked Rollup using the re-staking model; it is also one of the earliest AVS (Active Verification Service) launched on the EigenLayer mainnet.
ALT recently launched the re-staking “reALT” token, kicking off the second phase of the staking program.
ALT users can obtain basic rewards by staking ALT tokens in the main reward pool, and delegate ALT to different Launchpool pools by re-staking to win future rewards from projects such as Xterio, SWELL, and DODO.
How to participate in ALT re-staking?
ALT re-staking allows ALT holders to stake ALT to obtain higher APR returns and other project airdrop rewards.
After purchasing ALT on Binance and transferring it to the Ethereum chain, or exchanging ALT on Uniswap, stake it on the official website stake.altlayer.io. After staking ATL, you will automatically obtain stALT.
The current TVL of the ALT staking pool is 188,585,890 ALT, with a cumulative total of more than 60 million US dollars. The staking APR yield is 13.3%, and rewards are issued once a second.
ALT can be unlocked at any time, but it takes 21 days to unbind.
reALT's Advantages and Innovations
reALT is the re-staking ALT token, an automatically compounding ERC20 token issued to users who stake ALT in the main staking pool. It captures the holder's ALT staking contribution and accumulates the compounding rewards obtained.
stALT is an ERC1155 token that represents the holder’s staking contribution in the main staking pool.
stALT tokens can be manually converted to reALT tokens.
reALT's innovative design allows reALT to be delegated to multiple staking pools at the same time and obtain the benefits of multiple LaunchPools.
For example, in ALT’s current LaunchPools, Xterio and DODOchain are both ongoing, and users can stake their reALT to receive triple returns, 14.1% APY, and returns from both launch pools.
Re-staking is one of the popular ways to play in 2024. Holding and staking a certain token will generate corresponding liquidity tokens, which can be re-staking in other related projects to obtain income from multiple projects at the same time.
Although many people have doubts about the re-pledge gameplay, it does not affect various projects from continuing to launch various forms of re-pledge gameplay.
Since you can’t change market trends, you might as well follow and participate.
In addition, the current on-chain GAS is low, the interaction cost is low, and the gas fee is not a big deal.
Moreover, the market has been less volatile recently and we don’t know where the market will go in the future. It is better to hold the coins on the official website. There is a chance that they will return to zero, but there is also a chance that they will double.
The above is just my personal opinion, not investment advice. I am Chuxiaolian, and I am paying attention to the crypto market and web3.
