AltLayer Airdrop Season One

Last week, we made an exciting announcement: AltLayer token (ALT) launch on Binance come January 25, 2024. This marked a significant milestone for our team, and we want to express our heartfelt gratitude to the incredible community that has been an unwavering source of support. From the initial stages of conceptualization to the development of a fully-fledged product now utilized by leading projects in the industry, our journey has been enriched by your enthusiastic cheers.

Your active involvement in spreading the AltLayer message, testing our products and services, and, more broadly, contributing to the growth and cohesion of our community has been instrumental in bringing us this far. We deeply recognize and appreciate the vital role you’ve played in propelling us to this point, and we eagerly anticipate the continued collaboration and shared achievements that lie ahead.

Today, after about 2 years of starting the project, our AltLayer community spans over 1M people across Twitter, Discord, and beyond. Our work at AltLayer also builds on top of the other projects in the space such as EigenLayer and Celestia, and we are extremely grateful for contributions made by their respective ecosystems which has allowed us to imagine and build beyond what was possible when we had started.

Your contributions mean the world to us! As a token of our gratitude, we would like to invite you to be a part of our “ALT Token community”. To this end, we have planned an airdrop to reward early supporters and partners. This post details the airdrop mechanism, qualifying criteria, and other relevant information.

Before, we dive in, a quick reminder that 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 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.

Airdrop Overview: Season One

For ALT Airdrop Season One, we have reserved a total of 300,000,000 ALT Tokens (3% of the total supply) to be distributed across our NFT Holders (OG Badge and Oh Ottie! collections), ‘Altitude’ campaign participants, EigenLayer restakers, EigenLayer ecosystem partners and Celestia stakers.

The table below breaks down the allocated ALT tokens across different communities and categories.


NFT Holders
Since the launch of AltLayer, we have issued two NFT collections namely AltLayer OG Badge and Oh Ottie! Collection. Addresses that own the NFTs at the snapshot time qualify for the airdrop.

We would like to highlight that only circulating NFTs are eligible for airdrops. The OG Badge NFT collection has a circulating supply of 389 and Oh Ottie! Collection has a circulating supply of 1,768. The non-circulating NFTs in our Treasury are not qualified to receive any ALT airdrop.

Altitude Campaign Participants
We also ran 4 Galxe campaigns to involve our community with testing our early products and services. These campaigns were called AltLayer Altitude Campaigns and were run in four phases. The table below lists the number of qualified addresses for each of these phases.


* Number of Qualified Address: We have used anti-sybil analytics to identify non-sybil addresses that qualify for the airdrop. The selection criteria was:

• A wallet address should have engaged with at least 1 on-chain transaction on the Ethereum mainnet besides participating in the AltLayer Altitude Campaigns for the past year (Ethereum block number 16107850 to 18769911) to be qualified.

• Wallet addresses with the same source of funding are disqualified altogether. For instance, if more than 10 wallet addresses have received funds from one treasury account that holds a lot of funds and does not belong to a faucet, and these addresses perform similar trading behaviors at the same time, then these addresses will be deemed as one sybil cluster and will be disqualified.

EigenLayer Restakers
Our core offering of Restaked Rollups leverages EigenLayer’s restaking mechanism and therefore, we have a dedicated ALT token pool for the restaking community.

The number of ALT token airdropped to EigenLayer restakers is based on the five tiers of “Restaked Points” (as presented in the table below). We obtained Restaked Points data from the EigenLayer team, as well as Renzo, Ether.fi, and KelpDAO teams.

For more information on Restaked Points calculation, please refer to the EigenLayer docs: https://docs.eigenlayer.xyz/restaking-guides/restaking-user-guide/restaked-points


EigenLayer Ecosystem Partners
We will also airdrop to the EigenLayer team and their ecosystem partners as thanks for their continued support for our ‘Restaked Rollup’ services.


Celestia Stakers and others
Due to technical differences in the claiming mechanism, we would make the airdrop to TIA stakers available for claim at a later time post-listing. We are working on the token airdrop portal for TIA stakers with the support of the Celestia team. Please stay tuned for updates. We apologize for not being able to get it ready pre-token listing. Rest assured that you will not be forgotten and we are doing our best to get it ready as soon as possible.

Claim Duration
The airdrop claim site will be open for 1 month starting from January 25, 2024 to February 25, 2024. Any unclaimed ALT tokens post the end of the claim period will be returned to AltLayer’s Treasury.

This is the Airdrop Season One. We’ll provide more incentives for partners and participants adopting restaked rollups. We’ll keep you posted.

Claim Portal
The claim portal will be announced closer to the opening time.

Season One, if you will
Once again, we extend our heartfelt appreciation for your incredible love, support, and contributions to AltLayer. Your involvement has been invaluable, and we earnestly hope that you’ll continue to extend your support as ALT takes on the role of aligning incentives across the ecosystem.

We genuinely treasure every individual contribution that has fueled AltLayer’s success, and for those who did not qualify for this airdrop, we express our regret. However, it’s important to note that this is just the beginning — Season One, if you will. There is more to come! Stay tuned.

See you on January 25th!

Sanctioned regions: Community members who reside in, or are citizens of, or are located in the United States of America or Canada, the People’s Republic of China, or countries which are the subject of any sanctions administered or enforced by any country or government or international authority, including without limitation Cuba, North Korea, Timor-Leste, Cambodia, Republic of the Union of Myanmar, Lao People’s Democratic Republic, Tanzania, Pakistan, Uganda, Mali, Afghanistan, Albania, Angola, Botswana, Chad, Central African Republic, Eritrea, the Republic of Guinea, Guinea-Bissau, Somalia, Zimbabwe, Democratic Republic of the Congo, Republic of the Congo, Ethiopia, Malawi, Mozambique, Madagascar, Crimea, Kyrgyzstan, Haiti, Bosnia and Herzegovina, Uzbekistan, Turkmenistan, Burundi, South Sudan, Sudan (north), Sudan (Darfur), Nicaragua, Vanuatu, the Republic of North Macedonia, the Lebanese Republic, Bahamas, Kosovo, Iran, Iraq, Liberia, Libya, Syrian Arab Republic, Tajikistan, Uzbekistan, Yemen, Belarus, Bolivia, Venezuela, the regions of Crimea, Donetsk, Kherson, Zaporizhzhia 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.

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.

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