AltLayer opened a claim airdrop, there are currently more than 169 million ALT left

AltLayer's native ALT token was officially released and listed on the Binance exchange yesterday afternoon (January 25).

AltLayer opened a claim airdrop, there are currently more than 169 million ALT left unclaimed

On the afternoon of January 25, AltLayerhas opened the airdrop claim portal for users, based on the snapshot results on January 17. The first airdrop allocation is 300 million ALT tokens, accounting for 3% of the total supply of 10 billion tokens and worth approximately 87 million USD.

Airdrop recipients include those who participate in staking on Celestia (TIA) and EigenLayer, hold NFT OG, or have participated in the project's community campaigns. According to the announcement, AltLayer will let TIA stakers receive airdrops next week.

Up to now, 130.7 million airdrop tokens have been claimed in more than 29,000 wallets, accounting for 34% of the allocation, meaning there are more than 169 million ALT left without owners . Of these, the top 10 wallets received 4.8 million tokens.

Source: Dune Analytics

At the same time, Binance announced the listing of ALT at 05:00 PM on the same day. Within the first 4 hours, ALT attracted more than $300 million in trading volume, according to CoinGecko data.

ALT is currently changing hands at $0.29 per coin, for a fully diluted valuation of $2.9 billion. 15m chart of ALT/USDT trading pair on Binance, screenshot at 08:20 AM on January 26, 2024 AltLayeris a decentralized protocol that helps developers create rollups from OP Stack, Arbitrum Stack, ZKStack and Polygon CDK software, as rollup-as-a-service. At the end of last year, the project cooperated with EigenLayer to introduce the Retaked Rollup model, aiming to decentralize the Sequencer network (by reallocatingMEV activity), Increase authentication speed (Finality)and restructure the cost-benefit problem Units post proof as Data Availability (DA). In the future, ALT holders will have the right to participate in governance decisions or become operators for the ecosystem. ALT will also be used to reward network contributors such as operators or validators, as well as pay transaction fees on the network. The project has successfully raised 22.8 million USD from two private sale rounds, with the amount of tokens for sale accounting for 18.5% of the total supply.