AltLayer to launch native ALT token with airdrop via Binance Launchpool

AltLayer, a decentralized protocol specializing in restaked rollups, is set to introduce its native ALT token through Binance Launchpool. Binance users will have the opportunity to stake BNB and the FDUSD stablecoin to farm ALT tokens during a six-day period starting at 00:00 UTC on Friday.

Airdrop and eligibility

Upon listing, AltLayer plans to conduct an airdrop for early supporters of the project, including NFT holders and participants in community campaigns. A snapshot of all qualified addresses was taken on January 17, with more details about the airdrop to be shared soon.

AltLayer noted that this is the first wave of airdrops, with more planned for wider ecosystem partners and supporters in the coming months. Airdrops for qualified EigenLayer restakers and Celestia stakers will also be announced.

It’s important to note that residents of the United States are not eligible to participate in the airdrop or the farming of ALT tokens.

What is AltLayer and ALT?

The native utility token, ALT, serves as an economic bond alongside restaked assets, providing a stake that can be reduced in case of malicious behavior.

ALT token holders will have governance participation rights, operators in the AltLayer ecosystem will receive ALT token rewards, and network participants will be required to pay protocol fees using ALT.

AltLayer previously secured $22.8 million in funding from two rounds of private token sales, representing 18.5% of the total ALT token supply.