Difference between revisions of "AltLayer (ALT)"

From CryptoWiki

m
 
(One intermediate revision by the same user not shown)
Line 73: Line 73:
''AltLayer’s core offering of restaked rollups consists of three key products:''  
''AltLayer’s core offering of restaked rollups consists of three key products:''  


# ''VITAL: An [[Actively Validated Service (AVS)]], where operators verify [[Block|blocks]] and the corresponding states committed by the rollup sequencer and raise fraud proof challenges if necessary.''
# ''VITAL: An [[Actively Validated Service (AVS)]], where operators verify [[Block|blocks]] and the corresponding states committed by the rollup [[sequencer]] and raise fraud proof challenges if necessary.''
# ''MACH: A protocol to provide faster finality to rollups by allowing operators to restake [[Ethereum (ETH)|Ethereum]]-based assets to back any claims on the rollup [[state]].''
# ''MACH: A protocol to provide faster finality to rollups by allowing operators to restake [[Ethereum (ETH)|Ethereum]]-based assets to back any claims on the rollup [[state]].''
# ''SQUAD: Offer decentralized sequencing with economic backing. Decentralized sequencing eliminates short-term liveness concerns, bad [[Maximal Extractable Value (MEV)|MEV]], rent extractions and other issues associated with rollups that operate with a single sequencer."''
# ''SQUAD: Offer decentralized sequencing with economic backing. Decentralized sequencing eliminates short-term liveness concerns, bad [[Maximal Extractable Value (MEV)|MEV]], rent extractions and other issues associated with rollups that operate with a single [[sequencer]]."''


===Fees===
===Fees===
Line 127: Line 127:
===Funding===
===Funding===


* Raised [https://twitter.com/alt_layer/status/1759539340164706520 another] $14.4M from Polychain, Hack VC, [[Hashkey Capital]], [[OKX (OKB & OKT)|OKX]], Primitive Crypto, [[dao5]], [[Bankless Ventures|Bankless]] VC, SevenXVentures, [[Mask Network (MASK)|Mask Network]], [[IOSG Ventures|IOSG]] and [[TRGC]] (19-2-2024).
* [[Espresso Systems]]; [https://medium.com/@espressosys/scaling-ethereum-without-compromise-5cdf035dd14b part] of their $28 Series B (21-3-2024).
*Raised [https://twitter.com/alt_layer/status/1759539340164706520 another] $14.4M from Polychain, Hack VC, [[Hashkey Capital]], [[OKX (OKB & OKT)|OKX]], Primitive Crypto, [[dao5]], [[Bankless Ventures|Bankless]] VC, SevenXVentures, [[Mask Network (MASK)|Mask Network]], [[IOSG Ventures|IOSG]] and [[TRGC]] (19-2-2024).
*[https://www.binance.com/en/research/projects/altlayer From] [[Binance]] (17-1-2024):
*[https://www.binance.com/en/research/projects/altlayer From] [[Binance]] (17-1-2024):


Latest revision as of 02:02, 3 June 2024

A Platform to Launch Native and Restaked Rollups with Both Optimistic and ZK Rollup Stacks.

Basics

  • Based in:
  • Started in / Announced on:
  • Testnet release:
  • Mainnet release:

History

Audits & Exploits

Bugs/Exploits

Governance

Admin Keys

DAO

Notable Governance Votes

Treasury

Token

Launch

Token Allocation

10,000,000,000 ALT max supply.

Binance Launchpool 5.00% of the total token supply
Team 15.00% of the total token supply
Investors 18.50% of the total token supply
Advisors 5.00% of the total token supply
Protocol Development 20.00% of the total token supply
Ecosystem and Community 15.00% of the total token supply
Treasury 21.50% of the total token supply

Inflation

Utility

  1. "Economic bond: ALT token will be used alongside restaked assets to provide economic stake. This stake can be slashed if a malicious behavior is detected.
  2. Governance: ALT token holders can vote on governance decisions.
  3. Protocol Incentivization: Operators in the AltLayer ecosystem can earn ALT tokens as rewards for their services.
  4. Protocol Fees: Network participants will need to pay for intra-network services in ALT tokens."

Burns

Other Details

Coin Distribution

Technology

Transaction Details

How it works

"AltLayer is an open and decentralized protocol for rollups. AltLayer brings together a novel idea of Restaked Rollups which takes rollups (spun from any rollup stack such as OP Stack, Arbitrum Orbit, Polygon CDK, ZK Stack, etc.) and provides them with enhanced security, decentralization, interoperability and crypto-economic fast finality by leveraging restaking mechanism.

AltLayer’s core offering of restaked rollups consists of three key products:

  1. VITAL: An Actively Validated Service (AVS), where operators verify blocks and the corresponding states committed by the rollup sequencer and raise fraud proof challenges if necessary.
  2. MACH: A protocol to provide faster finality to rollups by allowing operators to restake Ethereum-based assets to back any claims on the rollup state.
  3. SQUAD: Offer decentralized sequencing with economic backing. Decentralized sequencing eliminates short-term liveness concerns, bad MEV, rent extractions and other issues associated with rollups that operate with a single sequencer."

Fees

Upgrades

Staking

Validator Stats

Liquidity Mining

Scaling

Interoperability

Other Details

Oracle Method

Their Other Projects

Roadmap

  • Q1 2024:
    • Testnet launch of the integration of Arbitrum Orbit with Celestia, Espresso, EigenDA
    • Testnet launch of the integration of Op Stack with EigenDA and Avail (got co-investment of AL's founder)
    • Support ZK Stack
    • VITAL, MACH: Testnet launch with OP Stack support
    • TGE
    • Season 1 Airdrop Q2 2024:
    • Testnet launch of the integration of Polygon CDK with alt DAs
    • VITAL, MACH: Mainnet launch with OP Stack support along with EigenLayer AVS mainnet
    • Alt staking for restaked rollups
    • VITAL, MACH: Testnet launch with Arbitrum Orbit support Q3 2024:
    • Support non-EVM rollups
    • VITAL, MACH: Mainnet launch with Arbitrum Orbit support along with EigenLayer AVS mainnet

Revenue

Usage

Projects that use or built on it

  • Clients using AltLayer (17-1-2024):
    • Cometh: Cometh is a game studio based out of France. They have previously worked with prestigious clients, namely La Française des Jeux (FDJ), Lacoste, FanLive Rugby, and Life Beyond Studios for their web3 needs. Cometh is building a new game called Cosmik Battle with user-friendly biometric wallets and a customizable NFT marketplace on a rollup provisioned by AltLayer.
    • Double Jump Tokyo: Double jump.tokyo is a blockchain game development studio based out of Japan. They provide web3 game and NFT development services to large-scale enterprises in the gaming & entertainment sector. They have worked with notable partners such as SEGA, Bandai & Ubisoft and own game IPs such as Sangokushi Taisen. Double Jump is also a member of the Japan Blockchain Organisation & Backed by Jump, Circle & others. AltLayer’s exclusive partnership with Double Jump would allow developers to launch rollups that settle on Oasys – a game dedicated rollup by Double Jump Tokyo.
    • Injective: Injective is a blockchain where developers can leverage a decentralized orderbook to build applications. Injective has partnered with AltLayer to use the modular Restaked rollup framework.
    • Avive: Avive is a geosocial protocol with Proof of Network consensus. It introduces the concept of "Sovereign Footprint", emphasizing individual ownership and control over personal data and digital identities.
    • Deri: Deri Protocol allows users to trade derivatives: to hedge, to speculate, to arbitrage, all on chain. With Deri Protocol, trades are executed under AMM paradigm and positions are tokenized as NFTs, highly composable with other DeFi projects. Deri Protocol has partnered with AltLayer for their app-dedicated rollup launch.
    • Automata: Automata is a blockchain middleware service provider backed by Binance Labs, Jump Crypto, and others. They recently launched a modular attestation layer with attestation conducted fully on-chain for out-of-protocol computation. The project enables on-chain verification of heavy-weight computation through proof-of-machinehood and uses AltLayer's rollups to achieve scalability. Automata has partnered with AltLayer for their app-dedicated rollup launch for Automata 2.0.
    • ALLO: Allo protocol is building applications across programmable funds, tokenizing real world assets, trading and staking. This product is being built as an extension of Allocations – a fund management platform with over $1B of assets currently under administration on the platform and backed by Flex Capital, Genesis Accel, Digital Horizon, Whatif Ventures, Garage Syndicate, W5 Group among others. Allo has partnered with AltLayer to build an RWA rollup.

Competition

Pros and Cons

Pros

Cons

Team, Funding and Partners

Team

  • Full team can be found [here].
  • Amrit Kumar

Funding

"AltLayer has raised 22.8MM USD from two rounds of private token sales, where 18.50% of the ALT total token supply has been sold at 0.008 USD / ALT and 0.018 USD / ALT respectively.

AltLayer’s investors include Polychain Capital, Binance Labs, Jump Crypto, Breyer Capital, DAO5, Balaji Srinivasan, Gavin Wood , Sean Neville (Circle Co-Founder and USDC architect) and Ryan Selkis (Founder of Messari), among others."

Partners

(:

Knowledge empowers all and will help us get closer to the decentralized world we all want to live in!

Making these free wiki pages is fun but takes a lot of effort and time.

If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information.

ETH tip address: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31

Retrieved from "https://cryptowiki.me/index.php?title=AltLayer_(ALT)&oldid=20668"