AltLayer Airdrop Puts $100 Million Into the Wallets of Ethereum Users
ALT is available now to claim for early AltLayer users and select ecosystem participants, and the token has already jumped 18% today to a current price of about $0.327, according to CoinGecko. It began at a price above $0.27 just after 5am ET.
With 300 million ALT tokens made available through this initial drop, that means that the total AltLayer airdrop is currently valued at just under $100 million. Airdrops are a way for crypto apps and protocols to both reward early users and contributors, while also decentralizing the governance process by distributing tokens to a wide array of holders.
Nearly 500,000 wallets are currently eligible for the airdrop, which includes owners of AltLayer NFTs and participants in the protocol’s pre-launch testing and engagement campaigns. Users of EigenLayer’s restaking features can also claim ALT.
AltLayer is a decentralized protocol designed to let Ethereum developers deploy rollups and other scaling options, and is compatible with existing scaling networks like Arbitrum, Optimism, and Polygon. In addition to its open protocol, AltLayer offers a “rollups-as-a-service” feature to custom-build scaling integrations.
