On Thursday, January 25th, the ALT crypto of the decentralized protocol AltLayer was officially launched on the main cryptocurrency markets, accompanied by an airdrop for early users of its ecosystem.
Several users, including those who have performed restaking operations with the liquid resources of the main LST platforms such as Lido, EigenLayer, RocketPool, and Swell, can claim the airdrop in the official section published by the AltLayer team.
Check now if you are also eligible.
Summary
The Altlayer protocol and the innovation of “Restaked Rollup”
Within this week’s crypto airdrop directory, we find the open and decentralized protocol AltLayer.
We are talking about a platform built to solve some of the most common problems in the world of Ethereum rollups, through the innovative concept of “Restaked Rollup”.
Through a Rollup-as-a-Service (RaaS) launchpad, AltLayer essentially offers a flexible option for developers who want to launch their own L2 rollup, involving pre-existing and tested blockchain architectures such as OP Stack, Arbitrum Orbit, ZKStack, and Polygon CDK.
In this way, anyone, even those who do not have particular programming skills, can create their own custom scaling solution in just 2 minutes, adding components of security, decentralization, and interoperability (derived from the aforementioned stacks) according to their needs.
I Restaked rollup therefore combine the ease of creating rollups using the aforementioned stacks with the power of the restaking mechanism to improve network security and build a decentralized network.
This innovation in the web3 field is mainly focused on 3 well-defined services, known as AVS, which are created upon user request and used for specific purposes in various applications:
- Check the correctness of the rollup status
- Faster purpose
- Decentralized sequencing
AltLAyer and its ALT crypto launched through an airdrop, were designed to navigate in a multi-chain and multi-VM environment with support for both EVM and WASM.
The RaaS product of the platform also integrates several rollup SDKs such as OP Stack, Arbitrum Orbit, Polygon zkEVM, ZKStack, and Starkware from ZKSync, various shared sequencing services such as Espresso and Radius, as well as various DA layers such as Celestia EigenLayer and Avail.
The vision of the AltLayer team is based on a future blockchain world consisting of a wide variety of purpose-built rollups with different characteristics, built on heterogeneous and modular technology stacks.
This excludes the development of completely disconnected individual app-chains, in favor of an ecosystem made up of elements in mutual communication that rely on predefined stacks and benefit from the solidity and security of Ethereum.
The project raised $7.2 million in seed funding in 2022, led by Polychain Capital and Jump Crypto.
AltLayer is also supported by private investors such as former Coinbase CTO Balaji Srinivasan, Ethereum co-founder Gavin Wood, Messari founder Ryan Selkis, Circle co-founder Sean Neville, and Synthetix co-founders Kain Warwick and Jordan Momtazi.
Crypto airdrop of the ALT token to these categories of users: find out immediately if you are eligible
Thursday, January 25th, the ALT token of the AltLayer protocol made its debut on the market coinciding with the release of the crypto airdrop for the first supporters of the decentralized ecosystem. The token closed the first day of trading at $0.32 per unit, giving good signals for growth in the immediate future.
ALT will be mainly used as a cryptographic resource for governance to vote on decisions related to protocol developments. Furthermore, individuals who will use the intra-network services will pay ALT to node operators who enable the proper functioning of the platform.
In the first season of airdrop, the AltLayer team has allocated a total of 300,000,000 tokens (3% of the total supply) to be distributed to a wide range of user categories and communities.
Among these we find the owners NFT (OG Badge and Oh Ottie! collections), the participants in the “Altitude” campaign, the restakers EigenLayer and other LST platform, and the stakeholders of Celestia.
The snapshot was taken on January 17, 2024 at 11 AM UTC.
Below is a table summarizing the eligible subjects for the ALT airdrop.
Trying to take a closer look at the composition of eligible users, we see that the category of NFT holders consists of the holders of the AltLayer OG Badge and Oh Ottie! collections, respectively with a circulating supply of 389 and 1,768 non-fungible tokens.
Among the list of participants in the Altitude campaign, we see that only the users who have participated in at least one of the 4 initiatives presented on the Galxe platform by the AltLayer team will be able to claim the airdrop.
In this context, an anti sybil policy has also been defined to exclude all users who have never made a transaction on the Ethereum main network in the last year and addresses that have the same source of funding in common and have performed similar trading behaviors over time.
Among the lucky eligible subjects for the airdrop, there are also all partners of the EigenLayer ecosystem who have supported the Restaked Rollup services.
Even the stakers of the Celestia ecosystem will be rewarded, but only at a later time after the listing of the ALT crypto.
Finally, participating in the redemption rewards we find the category of EigenLayer platform restakers, who will receive tokens based on a particular level of “Restaked Points”.
The calculation mechanism for these points can be found in this document: in general, to be eligible, it was necessary to have 1 stETH staked for at least 30 days.
According to what was published in the blog post by AltLayer announcing the airdrop of ALT, the ones listed above are the only eligible categories of users to claim the crypto.
Anyway, based on what was published by the project team on X a few days ago, even the restakers of LST protocols such as Lido, RocketPool, Swell, Stakewise, Origin Protocol, and many others (not mentioned in the previous documents) will be able to obtain a portion of the total ALT allocation.
The airdrop thus expands to a large portion of the Ethereum ecosystem, involving multiple market niches and various different subjects, much like what Celestia did during the release of the TIA crypto.
To check if you are also part of one of these groups and can redeem the AltLayer airdrop, you can visit the official website for the claim and connect your wallet.
The website will remain open for 1 month starting from January 25, 2024 to February 25, 2024. Any unclaimed ALT tokens after the end of the request period will be returned to the AltLayer Treasury.
