A deep dive into Binance’s darling AltLayer: Is the big hair coming soon?

Compared with several previous projects that launched on Binance, AltLayer's community popularity is obviously higher, and its airdrop coverage is also wider.

On the evening of July 1, 2022, AltLayer announced the completion of a 7.2 million seed round of financing. At that time, it immediately tweeted to everyone to rush forward. The scene was vivid in my mind. After a year and a half, AltLayer finally landed on Binance.

On the eve of the celebration, you might as well re-understand this important infrastructure of the Ethereum ecosystem.

Reference materials: https://www.binance.com/en/research/projects/altlayer

1) Project Introduction

AltLayer It is an open and decentralized rollup protocol. On the one hand, it provides enhanced security, decentralization, and interoperability through the use of Rollup stacks (such as OP Stack, Arbitrum Orbit, ZK Stack, etc.), and on the other hand, through the re-engineering of EigenLayer. The staking mechanism improves economic security and also lays the foundation for the stability and sustainability of the network.

Official website: https://altlayer.io/

2) Financing situation

In July 2022, AltLayer completed a 7.2 million seed round of financing, led by Polychain, Jump Crypto and Breyer Capital, with Polkadot founder Gavin, former Coinbase CTO and former a16z Partners and other industry leaders participated in the investment.

Since then, AltLayer won the third prize of BNB Chain’s European Innovation Incubator Project in 2022, and received investment from Binance Labs in August 2023.

3) Core product

VITAL: active verification Service that helps operators verify the corresponding status of block and summary sequencer submissions and raise fraud proof challenges when necessary.

MACH: Provides faster finality for rollups by allowing operators to re-stake Ethereum-based assets to support any claims of rollup status.

SQUAD: Provides decentralized sequencing with economic support to eliminate short-term activity problems, bad MEV and other problems.

4) Ecological status quo

As a modular Ethereum expansion solution, AltLayer provides a fully open execution environment, supports on-demand expansion, gives developers more flexible application space, and has reached cooperation with many agreements.

It should be noted that these protocols include many star projects such as EigenLayer, which will not rule out providing benefits to $ALT stakers in the future.

5) Token information

Total amount: 10 billion

Initial circulation: 11%

Two rounds of private placement price: 0.008/0.018 US dollars

Token allocation: Binance Launchpool-5%; team-15%; investors-18.5%; consultants-5%; protocol development-20%; Ecosystem and community-15%; Treasury-21.5%

Note: Binance Lanchpool will close on the 25th

Portal:https://t. co/wv8B7j1NdT

6) Airdrop range

AltLayer has completed the snapshot at 12:00:11 AM on January 17 (Ethereum block height 19022890). The airdrop targets include AltLayer OG Badge NFT holders, Oh Ottie! NFT holders, Altitude event qualified participants, qualified EigenLayer restakers and Celestia stakers.

Official documentation: https://blog.altlayer.io/altlayers-alt-token-launch-f49bf8ac2556

7) Currency price prediction

Compared with the previous projects that launched on Binance, AltLayer's community popularity is obviously higher, and its airdrop coverage is also wider. Right now, the biggest concern is undoubtedly the $ALT price. It is recommended to take a look at the market value comparison chart made by Twitter blogger "Sha Po Lang".