What is AltLayer (ALT)? Everything you need to know about ALT token.

AltLayer – Binance's latest project on the Launchpool platform. Let's explore AltLayer today to see what makes this project stand out.

What is AltLayer?

AltLayer is an open and decentralized protocol designed for rollups. AltLayer introduces a new concept of Restaked Rollups, incorporating rollups derived from any rollup stack such as OP Stack, Arbitrum Orbit, Polygon CDK, ZK Stack, etc. AltLayer enhances their security, scalability, interactivity, and fast-finite cryptocurrency economics by leveraging the restaking mechanism.

Core Products of AltLayer

The core products of AltLayer for Restaked Rollups include three main products:

1. VITAL
2. MACH
3. SQUAD

Highlights of the Products:

AltLayer is a decentralized protocol that facilitates the launching of original rollups and their restaking, both for optimistic rollups and ZK rollups.
AltLayer introduces a rollup framework known as Restaked Rollups.

Restaked Rollups combine the strengths of:

• Rollup stacks to launch specialized versions for the applications of all major rollups.
• EigenLayer's restaking mechanism into the bootstrap network with borrowed economic security from Ethereum.

Key Features:

Restaked Rollups: A common framework for application-specific rollups leveraging EigenLayer's restaking mechanism to provide enhanced security, decentralization, interactivity, and fast-finite economic characteristics in the realm of cryptocurrency.

Three AltLayer products

How Retaked Rollups work

VITAL: Actively Validated Service (AVS), where operators validate blocks, and the corresponding states are committed by the rollup sequencing mechanism, providing fraud proofs when necessary.MACH: A protocol aimed at providing faster finality for the rollup process by allowing operators to restake assets based on Ethereum to support any disputes regarding the rollup state.SQUAD: Provides a decentralized sequencing with economic backing. The decentralized sequencing eliminates concerns about short-term existence, malicious MEV, rent extraction, and other issues related to rollups operating with a single sequencer.
Ephemeral Rollups: With ephemeral rollups, dApp developers anticipate that the demand for their applications may:

1. Quickly create a rollup tailored to the application's needs that can be rapidly deployed and is securitized by Layer 1.
2. Utilize the synthesized rollup as needed.
3. Eliminate the rollup by performing an "end-of-life" on Layer 1.

Current Products:
Ephemeral Rollups are currently operational, while other products such as VITAL, MACH, and SQUAD are on their respective testnets.
Ephemeral Rollups have been utilized in various use cases, including mini-games, gaming tournaments, NFT minting events, and other activities. Some relevant statistics are provided below:

2048 Game

Cellula: 1.4 million Cellula NFTs have been minted with 1.9 million transactions across 612 thousand wallets.

Information about ALT token:

• Token Name: AltLayer
• Symbol: ALT
• Supply upon listing on Binance: 1,100,000,000 ALT (11% of total supply)
• Maximum Supply: 10,000,000,000 ALT
• Allocation on Binance Launchpool: 500,000,000 ALT (5% of total supply)
• Contract: (Information to be updated)
• Token Type: ERC-20, BEP-20

ALT is the utility token of AltLayer and is used in the following cases:

1. Governance: Holders of ALT tokens can vote on governance decisions within the project.
2. Protocol incentives: Operators within the AltLayer ecosystem can earn ALT tokens as rewards for their services.
3. Protocol fees: Network participants will need to pay for internal services using ALT tokens.

Allocation of ALT
The allocation of ALT will be distributed as follows:

• Binance Launchpool: 5%
• Team: 15%
• Investors: 18.5%
• Advisors: 5%
• Protocol developers: 20%
• Ecosystem/Community: 15%
• Treasury: 21.5%

ALT token release schedule

Development Roadmap

Q1 2024:

• Launch Testnet for integrating Arbitrum Orbit with Celestia, Espresso, EigenDA.
• Launch Testnet for integrating Op Stack with EigenDA and Avail.
• Support ZK stack.
• VITAL, MACH: Launch Testnet with OP Stack support.
• Token Generation Event (TGE).
• Airdrop Season 1.

Q2 2024:

• Launch Testnet for integrating Polygon CDK.
• VITAL, MACH: Mainnet launch with OP Stack support alongside Mainnet EigenLayer AVS.
• Alt staking for restaked rollups.
• VITAL, MACH: Launch Testnet with Arbitrum Orbit support.

Q3 2024:

• Support non-EVM rollups.
• VITAL, MACH: Mainnet launch with Arbitrum Orbit support along with EigenLayer AVS Mainnet.

Development Team

(Information to be updated...)

AltLayer Ecosystem

Collaboration and Customers Using AltLayer's Products

Collaboration:
AltLayer is closely collaborating with EigenLayer to build restaked rollups and provide support for EigenDA. Additionally, AltLayer is engaged in a partnership with RISC Zero to develop a new type of fault proofs named ZK Fault Proofs.
Customers Using AltLayer's Products:
AltLayer's product is being utilized by prominent clients such as "Cometh, Double Jump Tokyo, Injective, Avive, Deri, Automata, ALLO..."
Funding and Investors:
AltLayer has successfully raised a total of 22.8 million USD from two rounds of token sales. Of this, 18.5% of the total ALT supply was sold at prices of 0.008 USD/ALT and 0.018 USD/ALT, respectively.
Investors in AltLayer include notable names such as Polychain Capital, Binance Labs, Jump Crypto, Breyer Capital, DAO5, Balaji Srinivasan (former CTO of Coinbase and ex-GP of a16z), Gavin Wood (Co-founder of Ethereum and Parity), Sean Neville (Co-founder of Circle), Ryan Selkis (Founder of Messari), along with various other individuals.