Dear Community Members,
We are thrilled to announce the official launch of ALT, a token that will power the AltLayer protocol!
The AltLayer Protocol
AltLayer is an open and decentralized protocol for rollups. With AltLayer, we bring together a novel idea of Restaked Rollups which takes existing rollups (spun from any rollup stack such as OP Stack, Arbitrum Orbit, ZKStack, Polygon CDK, etc.) and provides them with enhanced security, decentralization, interoperability, and crypto-economic fast finality. Restaked rollups combine the ease of spinning up rollups using rollup stacks and others with the power of EigenLayer’s restaking mechanism to bootstrap network security and build a decentralized network.
Restaked rollups are essentially a set of three vertically integrated Actively Validated Services (AVSes) created on-demand for a given rollup that works with any underlying rollup stack. These AVSes in conjunction offer three key services to rollups in particular to app-specific rollups:
- Verification of rollups’ state correctness
- Faster finality
- Decentralized Sequencing
The above services are provided via three modular components called:
- VITAL (Decentralized verification of rollup’s state)
- MACH (Fast finality network)
- SQUAD (Decentralized sequencing framework)
AltLayer Ecosystem
The AltLayer ecosystem has grown tremendously big with established infra providers such as EigenLayer, Espresso, Astria, Radius, Celesita, EigenDA, Avail, OP Stack, ZKStack, Arbitrum Orbit, Polygon CDK; service providers such as Blockscout, Dexguru, Parsec Finance, Connext, Celer, HyperLane, Transak, Halliday and many others.
Research Collaborations
We collaborate closely with many infrastructure teams in the Ethereum space to improve existing systems as well as build new ones. We have collaborated with the likes of OP Labs, RISC Zero team and EigenLayer and plan to collaborate with many more on hard challenging problems in the space around MEV, decentralization, security, and privacy.
Projects using AltLayer
Several projects are using AltLayer’s services. These span gaming, DeFi, and other applications.
- Double Jump Tokyo: Double jump.tokyo is a blockchain game development studio based out of Japan. They have worked with notable partners such as SEGA, Bandai & Ubisoft and own game IPs such as Sangokushi Taisen.
- Cometh: Cometh is a game studio based out of France. They have previously worked with prestigious clients, namely La Française des Jeux (FDJ), Lacoste, FanLive Rugby, and Life Beyond Studios for their web3 needs.
- Oasys: Oasys is a game-optimized blockchain that offers a highly scalable Layer 1 hub and specialized Layer 2 using Ethereum’s Layer 2 scaling solution. Among Oasys’ validators are leaders in gaming and Web3, such as SEGA, Ubisoft, and Yield Guild Games, who act as initial validators in our Proof-of-Stake (PoS) based blockchain.
- Avive: Avive is one of the world’s largest geosocial protocols, uniting millions of users from over 130 countries on Alive L2 with Proof of Network consensus.
- Deri: Deri Protocol is the DeFi way to trade derivatives: to hedge, to speculate, to arbitrage, all on chain. With Deri Protocol, trades are executed under AMM paradigm, and positions are tokenized as NFTs, highly composable with other DeFi projects.
- Automata: Automata is a blockchain middleware service provider backed by Binance Labs, Jump Crypto, and others. They recently launched a modular attestation layer with attestation conducted fully on-chain for out-of-protocol computation.
- ALLO: Allo protocol is building novel applications across programmable funds, tokenizing real world assets, trading, and staking. This product is being built as an extension of Allocations — a fund management platform with over $1B of assets currently under administration.
Do check out this more detailed report by Binance on AltLayer: https://www.binance.com/en/research/projects/altlayer.
📅 Official Token Generation Event: January 25, 2024
Mark your calendars as we prepare for the launch of ALT Token on January 25, 2024 at 10:00 (UTC) (token listing date). Join us in celebrating this milestone and be among the first to explore the limitless possibilities our token brings to AltLayer and beyond.
🚀 Launch Process: Binance Launchpool
The token will be launched via Binance Launchpool. Users of Binance can stake BNB, and FDUSD, to farm ALT tokens over 6 days, with farming starting from January 19, 2024 at 00:00 (UTC). Binance will then list ALT on January 25, 2024 at 10:00 (UTC) and open trading with ALT/BTC, ALT/USDT and ALT/BNB, ALT/FDUSD and ALT/TRY trading pairs.
Please refer to the Binance blogpost for further details on how to get involved.
🚨 Airdrop to AltLayer early supporters
To our community, we thank you for your love and support. We could not have come this far without you. And therefore as a token of appreciation, we will have a dedicated airdrop to our community members. High-level information is given below but more details will follow in the coming days.
Eligibility Criteria: If you are: a) AltLayer OG Badge NFT holder b) Oh Ottie! NFT holder, or c) qualified participants of Altitude campaigns, d) Qualified EigenLayer restakers and Celestia stakers, you are eligible for an airdrop. Additionally, to qualify for the airdrop, you should not be a citizen or a resident of any of the sanctioned regions (read below).
Snapshot date: A snapshot of all qualified addresses was taken on Jan-17–2024 12:00:11 AM (Ethereum block number 19022890).
Sanctioned regions: Community members who reside in, or are citizens of, are located in the United States of America, Canada, China, Iran, Cuba, North Korea, Syria, Myanmar (Burma), the regions of Crimea, Donetsk or Luhansk, or any other country or region that is the subject of comprehensive country-wide or region-wide economic sanctions by the United States, EU and the UK (collectively, “Restricted Territories”) will not be eligible for the airdrop.
More details on the airdrop will be shared in the coming days. Do note that this is the first wave of airdrop to our community. More airdrops to our wider ecosystem partners and supporters will follow in the coming months.
Token Information
Token Distribution
🌟 Key Features of ALT Token:
ALT will be AltLayer’s native utility token and will be used in the following functions:
Economic bond: ALT token will be used alongside restaked assets to provide economic stake. This stake can be slashed if a malicious behavior is detected.
Governance: ALT token holders can vote on governance decisions.
Protocol Incentivization: Operators in the AltLayer ecosystem can earn ALT tokens as rewards for their services.
Protocol Fees: Network participants will need to pay for intra-network services in ALT tokens.
🎉 Stay tuned for Launch Day and Airdrop Updates! As we approach the launch, stay tuned for the updates. We can’t wait to celebrate this momentous occasion with our community!
- Website: https://altlayer.io/
- Twitter: https://twitter.com/alt_layer
- Discord: https://discord.com/invite/altlayer
- Telegram: https://t.me/altlayer
Thank you for being a part of the ALT community. Together, let’s embark on this exciting journey into the future of AltLayer!
DISCLAIMER
BY PARTICIPATING IN THE AIRDROP, PARTICIPANT ACKNOWLEDGES THAT THEY HAVE READ, UNDERSTOOD, AND AGREED TO THE AIRDROP T&CS IN THEIR ENTIRETY. THE PARTICIPANT IS RESPONSIBLE FOR MAKING ITS OWN DECISION IN RESPECT OF ITS PARTICIPATION IN THE AIRDROP AND ANY RECEIPT OF TOKENS. ANY PARTICIPATION IN THE AIRDROP IS SOLELY AT THE PARTICIPANT’S OWN RISK AND IT IS THE PARTICIPANT’S SOLE RESPONSIBILITY TO SEEK APPROPRIATE PROFESSIONAL, LEGAL AND TAX ADVICE IN RESPECT OF THE AIRDROP AND ANY RECEIPT OF THE TOKENS PRIOR TO PARTICIPATING IN THE AIRDROP AND PRIOR TO RECEIVING ANY TOKENS.
BY PARTICIPATING IN THE AIRDROP, THE PARTICIPANT EXPRESSLY ACKNOWLEDGES AND ASSUMES ALL RISKS RELATED THERETO INCLUDING (WITHOUT LIMITATION) THE RISKS SET OUT IN THE TOKEN T&CS. IN NO EVENT SHALL THE ORGANISER OR ANY MEMBER OF THE ORGANISER GROUP BE HELD LIABLE IN CONNECTION WITH OR FOR ANY CLAIMS, LOSSES, DAMAGES OR OTHER LIABILITIES, WHETHER IN CONTRACT, TORT OR OTHERWISE, ARISING OUT OF OR IN CONNECTION WITH THE AIRDROP OR THE RECEIPT OF ANY TOKENS.
THE ORGANISER DOES NOT TAKE ANY RESPONSIBILITY FOR THE PARTICIPATION BY ANY PARTICIPANT IN THE AIRDROP AND SO EACH PARTICIPANT MUST SATISFY ITSELF BEFORE PARTICIPATING IN THE AIRDROP AND SHOULD NOT RELY ON THE ORGANISER. THE ORGANISER DOES NOT PROVIDE ANY RECOMMENDATION OR ADVICE IN RESPECT OF THE AIRDROP OR THE TOKENS. THE ORGANISER HAS NOT ASSESSED THE SUITABILITY OF THE TOKENS FOR ANY PARTICIPANT. THE ORGANISER HAS NOT CONSIDERED THE APPLICABLE LAWS, REGULATIONS AND LAWS OF THE JURISDICTION OF ANY PARTICIPANT. EACH PARTICIPANT PARTICIPATES IN THE AIRDROP AT ITS OWN RISK AND RECEIVES TOKENS AT ITS OWN RISK.
Full version of the Disclaimer:
https://files.altlayer.io/Token-Airdrop-Terms-and-Conditions.pdf
