YEREVAN (CoinChapter.com) – AltLayer (ALT) token price reached $0.32 on Jan 2, after listing on Binance. The exchange announced its intention to launch the trading on Jan 17, as AltLayer is a new project on the Binance Launchpool platform.
AltLayer on Binance Launchpool
AltLayer is designed as a platform for launching native and restaked Rollups with both Optimistic and ZK Rollup Stacks. The idea is to improve the scalability and efficiency of blockchain networks. Binance users had the opportunity to stake their BNB and FDUSD to farm ALT tokens over a six-day period starting from Jan 19.
The listing of Altlayer (ALT) on Binance was scheduled for Jan 25, 2024, and it was made available for trading against various pairs including ALT/BTC, ALT/USDT, ALT/BNB, ALT/FDUSD, and ALT/TRY.
Binance is excited to announce the 45th project on Binance Launchpool – AltLayer (ALT), a platform to launch native and restaked Rollups with both Optimistic and ZK Rollup Stacks. Users will be able to stake their BNB and FDUSD into separate pools to farm ALT tokens over six days, with farming starting from 2024-01-19 00:00 (UTC).
announced the platform on Jan 17.
As of Jan 25, Binance was responsible for over 80% of ALT trading.
Binance also applied a seed tag to ALT, which is a feature for lower-liquidity projects that may exhibit higher volatility. Users owning assets with seed tags need to pass quizzes every 90 days to ensure they are aware of the associated risks before trading these tokens.
Notably, the ALT token experienced a significant price surge following its listing on Binance. Sources report it rocketed by 5,380% from $0.006 to $0.32 within minutes, indicating a strong market interest.
Token Airdrop Commenced
Additionally, as of the New York session, AltLayer Airdrop went live, as per the latest announcement. The platform provided the necessary links and a step-by-step to claim the airdrop tokens
Meanwhile, one of the key features of AltLayer is its capability to equip both EVM (Ethereum Virtual Machine) and non-EVM chains (like Polkadot) with an on-demand execution layer. This layer is capable of handling surges in transaction processing requests, which enhances the overall user experience while minimizing fees and avoiding congestion on primary blockchain layers.
AltLayer’s protocol introduces the concept of restaked rollups. This involves merging existing rollups from various stacks, such as OP Stack, Arbitrum Stack, ZKStack, and Polygon CDK, with EigenLayer’s restaking mechanism. This approach aims to boost network security and foster the development of a decentralized network.
