Multiple Rewards of ALT Restaking Token 💰
AltLayer has launched its reALT token as part of the second phase of its staking program, marking a significant milestone for the platform.
The reALT token is automatically generated and compounded from staked ALT tokens within AltLayer's primary staking pool, offering users enhanced benefits and rewards.
AltLayer, known for its rollup platform, has initiated the second phase of its staking initiative, unveiling the reALT token for stakers.
AltLayer operates as a decentralized protocol allowing developers to build rollups using software stacks like OP Stack, Arbitrum, and Polygon CDK, termed as rollup-as-a-service. The platform is also planning to introduce "restaked rollups," which are Layer 2 projects utilizing EigenLayer's restaking mechanism to enhance network security.
The native ALT token from AltLayer debuted in January, followed by ALT staking activation in March. The introduction of reALT, an auto-compounding ERC-20 token, rewards users staking ALT in the primary staking pool with weekly accumulated rewards.
Additionally, holders of the underlying stALT token (representing staking contributions) can convert to reALT through AltLayer's staking portal tool.
How reALT Operates
Upon issuance, reALT becomes usable in various pools for restaked rollups, like the Xterio pool, expanding user engagement and rewards across multiple communities without unstaking from the main ALT staking pool.
Notable updates in phase two include replacing the initial Xterio LaunchPool with a reALT-powered pool, allowing existing stakers to migrate seamlessly. Although immediate withdrawals are currently possible from the main ALT staking pool, a cooldown period of 21 days, reinstated seven days into phase two, will enhance stability, as mentioned by the team.
The introduction of reALT plays a pivotal role in enhancing staker involvement, aligning with AltLayer's upcoming MACH Alpha launch—a rapid finality service aimed at enhancing security and scalability for Layer 2 rollups.
