Binance Launchpool Unveils AltLayer, Supporting Staking with BNB and FDUSD
In Brief
Binance Launchpool unveiled the AltLayer project designed to launch native and restaked Rollups, supporting Optimistic and ZK Rollup Stacks.
Cryptocurrency exchange Binance unveiled AltLayer (ALT) as its 45th project on Binance Launchpool. AltLayer is a platform designed for launching native and restaked Rollups, supporting both Optimistic and ZK Rollup Stacks.
Users can participate by staking BNB and FDUSD in separate pools to farm ALT tokens and earn rewards, with the farming period commencing on January 19, 2024, at 00:00 UTC. The opportunity to mine ALT tokens will be available for a total of six days.
Subsequently, Binance plans to list ALT on January 25, 2024, at 10:00 (UTC), initiating trading across various pairs, including ALT/BTC, ALT/USDT, ALT/BNB, ALT/FDUSD, and ALT/TRY. The application of the Seed Tag will be implemented for ALT.
AltLayer serves as an open and decentralized protocol for rollups, introducing the innovative concept of Restaked Rollups. This approach enhances the security, decentralization, interoperability, and crypto-economic fast finality of rollups, spun from various rollup stacks like OP Stack, Arbitrum Orbit, Polygon CDK, ZK Stack, and others, through the utilization of a restaking mechanism.
AltLayer’s native utility token ALT serves multiple purposes, including acting as an economic bond, enabling governance voting, incentivizing protocol operators and serving as a means of payment for intra-network services.
The maximum supply for the ALT token is set at 10 billion, with a total token rewards volume amounting to 500,000,000 ALT, constituting 5% of the maximum token supply, while the farming period is scheduled to conclude on 2024-01-24 at 23:59 (UTC).
According to Binance, users residing in Canada, Cuba, Crimea Region, Iran, Japan, New Zealand, Netherlands, North Korea, Syria, United States of America and its territories will not have the eligibility to participate in farming ALT tokens.
Binance Launchpool Introduces Innovative Projects
Binance Launchpool is a platform introduced by Binance that allows users to participate in token farming for newly launched projects, providing opportunities to stake assets and earn rewards in the form of new tokens.
Recently, the platform introduced Sleepless AI ($AI), a Web3 and artificial intelligence (AI) gaming platform that allows users to stake BNB, FDUSD and TUSD in distinct pools for token farming.
The platform’s native token $AI functions within the Sleepless AI ecosystem provides users with access to premium features, participation in governance and the opportunity to stake for rewards. $AI is also listed on Bitget, another notable cryptocurrency exchange. Today — SleeplessAI initiated AI Together, a community-building project designed to attract additional institutional supporters involved in funding, public relations, community building, and technology.
With the new AltLayer project, Binance Launchpool continues its expansion offering users unique opportunities for farming and staking.
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
