AltLayer (ALT)
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A Platform to Launch Native and Restaked Rollups with Both Optimistic and ZK Rollup Stacks.
Basics
History
Audits & Exploits
- Bug bounty program can be found [insert here].
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
- "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.
- Governance: ALT token holders can vote on governance decisions.
- Protocol Incentivization: Operators in the AltLayer ecosystem can earn ALT tokens as rewards for their services.
- Protocol Fees: Network participants will need to pay for intra-network services in ALT tokens."
Burns
Other Details
Coin Distribution
Technology
- Whitepaper or docs can be found here.
- Code can be viewed [insert here].
- Consensus mechanism:
- Algorithm:
- Virtual Machine:
- Development language used:
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:
- 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.
- 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.
- 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
- Espresso Systems; part of their $28 Series B (21-3-2024).
- Raised another $14.4M from Polychain, Hack VC, Hashkey Capital, OKX, Primitive Crypto, dao5, Bankless VC, SevenXVentures, Mask Network, IOSG and TRGC (19-2-2024).
- From Binance (17-1-2024):
"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
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