In our commitment to continually broaden our offerings, we are introducing a new project addition - AltLayer (ALT).

This article provides you with a comprehensive overview of the AltLayer project, its native token, tokenomics, functionalities, and its potential impact on the crypto ecosystem.

What is AltLayer?

AltLayer provides Rollups-as-a-Service (RaaS) in the Ethereum ecosystem. As an Ethereum scaling platform, this service enables the deployment of both optimistic and zk-rollups. These layer 2 solutions are critical to the processing of off-chain transactions and batching them for submission to the Ethereum main chain. Their utility lies in the fact that they reduce congestion on the main chain and ultimately cost less in gas fees.

With AltLayer, developers can choose the rollup solution that's best for their needs and in the process deploy faster, cheaper, and more secure L2 solutions and dApps. AltLayer went further and introduced a concept known as Restaked Rollups. These leverage the staking mechanism to use locked Ethereum, that originally staked in various other protocols, to secure more networks.

This innovation boosts transaction security, allows for greater centralization, improved interoperability, and faster finality

Key Features of AltLayer

Scalability Enhancement: Significantly reduces Ethereum main chain congestion and lowers gas fees.
Rollups-as-a-Service (RaaS): Offers dApps the choice of optimal rollup technology tailored to their specific needs.
Restaked Rollups: Utilizes locked ETH for additional security and yield opportunities on restaked assets.
Interoperability and Fast Finality: Supports seamless cross-chain interactions and ensures quick transaction finality.
Decentralized Verification (VITAL): Ensures the accuracy and integrity of rollup data matching the main network.
Rapid Transaction Finality (MACH): Provides multiple methods for ensuring the finality of transactions quickly and reliably.
Fair Sequencing (SQUAD): Guarantees the decentralized and random ordering of transactions, enhancing fairness.
Diverse Ecosystem Integration: Supports a wide range of applications from gaming and DeFi to metaverses and data availability.

Overview of AltLayer (ALT)

ALT is the native cryptocurrency of the AltLayer project. It is a utility and governance token that is integral to the proper functioning of the AltLayer network. It not only facilitates transaction processing and network security but also empowers community members to participate actively in governance decisions. The primary goal of the ALT token appears to be to align the incentives of various stakeholders such as developers, users, and investors, and in the process ringfence the long-term viability and growth of the platform.

Application/Utilities of ALT

In the AltLayer ecosystem, the ALT token is multifunctional and serves several critical roles, namely:

Governance: ALT holders can propose and vote on key protocol decisions.
Staking: ALT tokens can be staked directly on AltLayer's rollups or through restaking mechanisms.
Fee Payment: Transaction fees, rollup deployment costs, and other network services can be paid using ALT tokens.
Access: ALT tokens grant holders access to specialized services within the ecosystem, such as enhanced data availability solutions and decentralized sequencing services.

Ecosystem

The ecosystem comprises various projects that have integrated with rollups to take advantage of security, scalability, and interoperability. These projects cut across different sectors such as gaming, DeFi, NFTs, and the metaverse.

Use Cases

Gaming

Gaming platforms integrate with AltLayer to offer players a smooth gaming experience with minimal transaction fees. AltLayer’s technology enables real-time gameplay and interoperability across different blockchain environments.

Metaverse

Several metaverse projects are using AltLayer to create expansive virtual worlds where millions of users can interact simultaneously without compromising performance or security.

Data Availability

Protocols like EigenLayer make use of AltLayer’s restaked rollups to provide secure, decentralized data availability services. These are essential for the optimum operation of scalable dApps.

DeFi

AltLayer’s fast finality and reduced gas costs make it an ideal platform for DeFi applications, that demand high throughput and rapid transaction settlement to function effectively.

ALT Tokenomics

The tokenomic structure of the ALT Token is as follows:

Total Supply: The token has a total supply of 10B with 1.1 billion (11%) currently in circulation.
Treasury: 21.5%
Protocol development: 20%
Investor: 18.5%
Team: 15%
eEcosystem and community: 15%
Binance launchpad: 5%
Advisor: 5%

ALT Token Statistics

The ALT Token was listed on January 25, 2024, and began trading at a price of $0.3197.

Token Symbol: ALT
Token Supply: 10 Billion
Circulating Supply: 1.1 Billion
Market Capitalization: $3.30 Billion
Trading Price: $0.3289
Cryptocurrency Rank: #182

Following its listing on CoinEx on January 26, 2024, it has appreciated by 23.45%, showcasing significant investor interest. Currently, market capitalization stands at $3.30 Billion with a circulating market capitalization of $363.31 Million.

How to Trade ALT Tokens on CoinEx?

CoinEx is a global cryptocurrency exchange, trusted by 5+ millions of users worldwide with 100% reserve. With 1000+ tokens supported, including ALT, users can now trade easily and seamlessly. To purchase ALT tokens on CoinEx, follow the steps below:

Create an Account: Begin by signing up for a CoinEx account.
Deposit Funds: Once you log in, deposit funds into your CoinEx account via any supported cryptocurrencies or deposit methods available on the exchange. With funds in your account, you can execute trades seamlessly.
Navigate to ALT Trading Page: After funding your account, navigate to the dedicated ALT trading page on CoinEx. A search box will help you locate ALT trading pairs on the spot trading page. Simply enter the term "ALT" to find the associated trading pairs.
Select a Trading Pair: Choose the trading pair ALT/USDT to trade ALT against USDT (Tether).
Specify the Purchase Amount: The next step is to specify the number of ALT you want to buy. You can buy them at the current market price or set a limit for your preferred buying price on the trading page.
Execute the Trade: Once you have specified the amount, proceed to execute the trade. Confirm the details, and if they are satisfactory, submit the order.

By following these steps, you can easily trade ALT tokens on CoinEx.