A quick look at Binance’s latest Launchpool project AltLayer (ALT)

2024/01/17 20:11

Source: Binance official website Compiled by: Shan Oppa, Golden Finance

At 19:00 on January 17, 2024, Binance announced that the 45th phase of Binance’s new coin mining project will be launched, using BNB and FDUSD to mine AltLayer (ALT).

Users can register at 08:00 on January 19, 2024 (East Eight zone time), put BNB and FDUSD into the AltLayer mining pool on the Launchpad website to obtain ALT rewards. ALT can be mined for a total of 6 days. The website is expected to be updated within approximately twenty-four hours of this announcement and before the mining activity opens.

In addition, Binance will launch in January 2024 ALT will be launched at 18:00 on the 25th (Beijing time), and ALT/BTC, ALT/USDT, ALT/BNB, ALT/FDUSD, and ALT/TRY trading pairs will be opened. The seed tag will be applied to the ALT.

Introduction to AltLayer (ALT)

Token name: AltLayer (ALT)
Token maximum supply: 10,000,000,000 ALT
Initial circulation: 1,100,000,000 ALT (11% of the maximum supply of tokens)
Total mining amount: 500,000,000 ALT (5% of the maximum supply of tokens)
Smart contract details: BNB chain; Ethereum
Restrictions: KYC required
Personal hourly mining hard cap
BNB mining pool: 277,777.77 ALT
FDUSD mining pool: 69,444.44 ALT

Mining pool:

BNB Mining Pool (the website will be updated within 24 hours of this announcement before the mining activity opens): Total number of mines available 400,000,000 ALT (80%)
FDUSD Mining Pool (the website will announce this within 24 hours, mining activities Updated before opening): A total of 100,000,000 ALT can be mined (accounting for 20%)
Mining time: East Eighth District time in 2024 From 08:00 on January 19 to 07:59 on January 25, 2024

Mining quota allocation in stages

< p style="text-align: center;">Note: The above table uses UTC time every day, which is converted to East Eighth District time at 08:00 am on that day: 00 to 07:59:59 the next morning.
AltLayer (ALT) Research Report
< p style="text-align: left;">AltLayer is an open and decentralized protocol designed for rollups. AltLayer brings a novel idea - re-staking Rollups, which takes rollups from any rollup stack (such as OP Stack, Arbitrum Orbit, Polygon CDK, ZK Stack, etc.) and provides them with enhanced security by leveraging the re-staking mechanism sex, decentralization, interoperability, and the rapid finality of the crypto-economy.
ALT is AltLayer’s native utility token and is used for the following functions:
Economic Bonds: ALT tokens will be with re-staking assets Used to provide economic pledge. This stake can be reduced if malicious behavior is detected.
Governance: ALT token holders can vote on governance issues.
Protocol incentives: Operators in the AltLayer ecosystem can receive ALT tokens as rewards for their services.
Protocol fee: Network participants need to use ALT tokens to pay for services within the network.
AltLayer's core product - re-pledged rollups, consists of three key products:
VITAL: an active verification service (AVS), where the operator verifies the blocks and corresponding states submitted by the rollup sequencer and raises fraud proof challenges if necessary.
MACH: A protocol that provides Faster rollups finality.
SQUAD: Provides decentralized sorting with economic support. Decentralized ordering eliminates short-lived issues, bad MEV, rent extraction, and other problems associated with rollups operated by a single sequencer.
AltLayer raises $22.8 million in two private token sales, 18.50% of total ALT tokens Supply was sold at prices of $0.008/ALT and $0.018/ALT respectively.
AltLayer’s investors include Polychain Capital, Binance Labs, Jump Crypto, Breyer Capital, DAO5, Balaji Srinivasan (former Coinbase chief technology Official and former a16z global partner), Gavin Wood (co-founder of Ethereum and Parity), Sean Neville (co-founder of Circle and USDC architect) and Ryan Selkis (founder of Messari), etc.
As of January 17, 2024, the maximum supply of ALT is 10 billion, and the circulating supply at the time of listing will be approximately 1.1 billion (approximately 11.00% of the maximum token supply).
Token sale information
Token distribution
< h2 style="text-align: left;">Token distribution
Token issuance schedule

Preview

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