AltLayer

AltLayer is an open and decentralized protocol for Rollup. AltLayer introduces a novel concept of Restaked Rollups, which accepts Rollups from any Rollup stack (such as OP Stack, Arbitrum Orbit, Polygon CDK, ZK Stack, etc.) and provides them with enhanced security by leveraging the restaking mechanism sex, decentralization, interoperability, and the rapid finality of cryptoeconomics.

ALT is AltLayer's native utility token and is used for the following functions:

Economic Margin: ALT tokens will be used along with rehypothecated assets to provide economic margin. This deposit can be reduced if malicious behavior is detected.

Governance: ALT token holders can vote on governance decisions.

Protocol Incentives: Operators in the AltLayer ecosystem can earn ALT tokens as rewards by providing services.

Protocol Fees: Network participants are required to use ALT tokens to pay for services within the network.

AltLayer's core Restaked Rollups offering consists of three key products:

VITAL: Active Verification Service (AVS), where operators verify blocks and corresponding states submitted by Rollup sequencers and raise fraud proof challenges if necessary.

MACH: A protocol that provides faster finality to Rollup by allowing operators to re-mortgage Ethereum assets to back any claims to Rollup state.

SQUAD: A decentralized sequence that provides financial support. Decentralized sequencing eliminates short-term liveness issues, bad MEV, rent extraction, and other issues associated with Rollup running with a single sequencer.

AltLayer raised $2.28 billion from two rounds of private token sales, selling 18.50% of the total ALT token supply at prices of $0.008/ALT and $0.018/ALT.

AltLayer’s investors include Polychain Capital, Binance Labs, Jump Crypto, Breyer Capital, DAO5, Balaji Srinivasan (former CTO of Coinbase and former GP of a16z), Gavin Wood (co-founder of Ethereum and Parity), Sean Neville (co-founder of Circle) and USDC Architect) and Ryan Selkis (Messari founder), etc. The total supply of ALT is 10,000,000,000 as of January 17, 2024, and the circulating supply at the time of listing is 1,100,000,000 (11.00% of the total token supply).