AltLayer to Launch its Native Utility Token ALT on Binance
The decentralized protocol has recently announced the launch of its native utility token, ALT, on January 25, which will take place on the Binance exchange platform.
This launch will be done through Binance Launchpool, where users will be able to farm ALT tokens for six days, starting from January 19. To be eligible for ALT rewards, Launchpool participants will need to stake BNB and FDUSD.
Binance will then list ALT on January 25 at 11:00 AM CET. ALT trading pairs available will include ALT/BTC, ALT/USDT, ALT/BNB, ALT/FDUSD, and ALT/TRY. It is important to note that Binance Launchpool has allocated 500 million ALT tokens, which represents 5% of the total supply of 10 billion tokens.
Airdrop Planned by AltLayer
AltLayer also plans to reward its most active community through an airdrop, which includes NFT holders, participants in various community campaigns on the ‘Galxe’ platform, Celestia stakers, and users who have utilized the EigenLayer protocol.
A snapshot of all qualified addresses was taken on January 17, with more details to come. AltLayer emphasized that this will be the first wave of airdrops for its community, with more airdrops planned for ecosystem partners in the months to come.
AltLayer’s protocol utilizes a technology called ‘restaked rollups’ to enhance the performance and security of its network. Essentially, this method combines existing rollups with restaking via EigenLayer.
It is highly likely that, within minutes of its launch, the ALT token will achieve a market cap of several hundred million dollars.