AltLayer to launch their Native Utility Token ALT on January 25th via Binance Launchpool

AltLayer, the protocol that brings restaked rollups to the crypto space, is launching its own token, ALT, on Binance Launchpool on Jan. 25. The project will also reward its early supporters with an airdrop of ALT tokens after the listing.

What are restaked rollups and why do they matter?

Restaked rollups are a novel solution that combines the scalability and efficiency of rollups with the security and decentralization of EigenLayer’s restaking mechanism. Rollups are a layer-2 technology that bundle transactions off-chain and periodically submit them to the main chain, reducing congestion and fees. Restaking is a mechanism that allows users to stake their tokens on any rollup and receive rewards in ALT tokens, creating an economic incentive for securing the network.

How can you participate in the ALT token launch?

If you are a Binance user, you can stake your BNB or FDUSD tokens on Binance Launchpool from Jan. 19 to Jan. 25 and earn ALT tokens as rewards. The total amount of ALT tokens allocated for farming is 5% of the total supply. You can also buy ALT tokens on Binance after the listing on Jan. 25.

How can you get the ALT token airdrop?

AltLayer will distribute 1% of the total ALT token supply to its NFT holders and community campaign participants as a way of thanking them for their support. The airdrop will take place after the listing on Jan. 25. AltLayer will also conduct more airdrops in the future, so stay tuned for more updates.

Who are the backers of AltLayer?

AltLayer has raised $22.8 million from two rounds of private token sales, with participation from prominent investors such as Pantera Capital, Multicoin Capital, Alameda Research, and Coinbase Ventures. The private sale tokens represent 18.5% of the total ALT token supply.

Visit their blog post for more info: https://medium.com/altlayer/altlayers-alt-token-launch-f49bf8ac2556

Disclaimer: This is not financial advice. Please do your own research before investing in any cryptocurrency project.