What is AltLayer?

Summary: AltLayer is reshaping blockchain with its decentralized protocol, enhancing rollup scalability and security through Restaked Rollups. It integrates key services like VITAL, MACH, and SQUAD for improved efficiency and decentralization.

AltLayer's Rollups-as-a-Service (RaaS) platform caters to diverse blockchain applications, while its strategic tokenomics and community-focused airdrop program emphasize its commitment to a robust and inclusive blockchain ecosystem.

What is AltLayer?

AltLayer is an innovative open and decentralized protocol specializing in rollups, revolutionizing blockchain scalability and security. It introduces Restaked rollups, a unique concept that enhances existing rollup frameworks like OP Stack, Arbitrum Orbit, and ZKStack. These rollups are fortified with EigenLayer's restaking mechanism, boosting security, decentralization, interoperability, and swift crypto-economic finality. AltLayer is a trailblazer in merging the simplicity of rollup stack utilization with the robustness of advanced network security.

Central to AltLayer's architecture are three Actively Validated Services (AVSes): VITAL, MACH, and SQUAD. These services, essential for app-specific rollups, provide decentralized verification of rollup state (VITAL), rapid finality (MACH), and decentralized sequencing (SQUAD). Additionally, AltLayer offers a no-code, Rollups-as-a-Service (RaaS) platform, enabling users to easily create custom rollups. This platform supports EVM, WASM, and multiple rollup SDKs, and integrates with data availability layers and sequencing services.

A standout innovation in AltLayer's design is the concept of ephemeral rollups. This allows for the temporary deployment of application-tailored rollups, which can be swiftly set up and later retired, ensuring efficient resource utilization. AltLayer's RaaS includes both ephemeral and persistent rollups, catering to a range of needs from temporary demand surges to permanent infrastructure requirements.

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How Do Restaked Rollups Work?

Restaked Rollups, developed by AltLayer, enhance rollups by incorporating EigenLayer’s restaking mechanism to boost decentralization, security, interoperability, and efficiency. These rollups integrate three Actively Validated Services (AVS):

• VITAL (Decentralized Verification): VITAL focuses on decentralized verification, ensuring the correctness of the rollup's state. It involves the community in verification and can handle both fraud and Zero-Knowledge (ZK) proofs, providing robust, L1-level security guarantees.
• MACH (Fast Finality): MACH offers fast finality, significantly reducing transaction finality time from the typical 13 minutes on L1 networks to under 10 seconds. This service enhances cross-rollup interoperability and provides additional verification and security layers.
• SQUAD (Decentralized Sequencing): SQUAD decentralizes the sequencing process, involving the community as sequencers and stakers. This approach reduces single points of failure, increases the utility of rollup tokens, and mitigates censorship risks.

Together, these services create a more secure, efficient, and user-engaged rollup environment, aligning with AltLayer's vision of a decentralized and collaborative blockchain ecosystem.

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AltLayer Tokenomics

AltLayer's tokenomics, centered around its native token $ALT, is structured to support the ecosystem's growth and user participation. The details of AltLayer's tokenomics are as follows:

• Total Supply: The $ALT token has a total supply of 10 billion.
• Circulating Supply at Listing: At the initial listing, the circulating supply was 1.1 billion ALT, 11% of the total supply.
• Private Sale Pricing: The private sale of $ALT tokens was conducted in two rounds. The first round was priced at $0.008 USD per ALT, and the second at $0.018 USD per ALT.
• Token Allocation: The distribution of $ALT tokens is as follows: 21.5% to the treasury, 20% for protocol development, 18.5% to investors, 15% to the team, 15% for ecosystem and community development, 5% to advisors, and 5% to the Binance Startup Team.
• Use Cases of ALT Token: The ALT token is used for several purposes within the AltLayer ecosystem, including staking to become Aggregate Verifier Services (AVSs), participating in governance through voting, paying operational fees, and accessing exclusive features and services.
• Token Launch and Distribution: The ALT token was officially launched on January 25, 2024, through the Binance Launchpool, where users could stake BNB and FDUSD to farm ALT tokens.
• Community Engagement and Airdrop: AltLayer conducted an airdrop for its early supporters, with eligibility criteria based on holding specific NFTs and campaign participation. The snapshot for this airdrop was taken on January 17, 2024.

This tokenomics structure is designed to promote active participation in the AltLayer ecosystem, align the interests of various stakeholders with the platform's growth, and ensure a balanced and sustainable token distribution.

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AltLayer Airdrop

The AltLayer airdrop is a strategic initiative designed to reward early supporters and community members. Key aspects of the AltLayer airdrop include:

• Eligibility Criteria: To qualify for the airdrop, participants need to meet specific criteria. This includes holding certain NFTs like the AltLayer OG Badge or Oh Ottie! NFTs, participating in Altitude campaigns, or being qualified EigenLayer restakers and Celestia stakers.
• Snapshot Date: The eligibility for the airdrop was determined based on a snapshot of qualified addresses taken on January 17, 2024, at Ethereum block number 19022890.
• Exclusions: The airdrop has geographical restrictions, excluding residents and citizens of certain sanctioned regions, including the USA, Canada, China, Iran, Cuba, North Korea, Syria, Myanmar, and regions under sanctions by the US, EU, and the UK.
• Distribution Process: Following the snapshot date, details regarding the distribution mechanics and the exact amount of tokens to be airdropped were to be announced.
• Future Plans: The airdrop represents the first phase of AltLayer's plan to reward its community. Further airdrops are anticipated, extending rewards to a wider range of ecosystem partners and supporters in subsequent months.

This airdrop is a significant part of AltLayer's efforts to incentivize and strengthen its community, ensuring active participation and long-term engagement within the AltLayer ecosystem.

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Bottom Line

In conclusion, AltLayer emerges as a transformative player in blockchain technology, revolutionizing rollups with its innovative Restaked Rollups and user-friendly Rollups-as-a-Service (RaaS) platform. It enhances rollup functionality through integrated services like VITAL, MACH, and SQUAD, focusing on security, efficiency, and decentralization. Additionally, AltLayer's strategic tokenomics and community-focused initiatives, such as its airdrop program, underline its commitment to building a robust, participatory blockchain ecosystem.