#ALT
AltLayer is an open and decentralized protocol designed for rollups. AltLayer brings a novel idea - re-staking Rollups, which takes 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 re-staking mechanism sex, decentralization, interoperability, and the rapid finality of the crypto-economy.
ALT is AltLayer’s native utility token and is used for the following functions:
Economic Bonds: ALT tokens will be used along with re-staking assets to provide economic collateral. This stake can be reduced if malicious behavior is detected.
Governance: ALT token holders can vote on governance issues.
Protocol incentives: Operators in the AltLayer ecosystem can receive ALT tokens as rewards for their services.
Protocol fees: Network participants need to use ALT tokens to pay for services within the network.
AltLayer's core product, re-staking rollups, consists of three key products:
VITAL: An Active Validation Service (AVS) where the operator verifies blocks and corresponding states submitted by rollup sequencers and raises fraud proof challenges if necessary.
MACH: A protocol that provides faster rollup finality by allowing operators to re-stake Ethereum-based assets to back any claim to rollup status.
SQUAD: Provides decentralized sorting with financial support. Decentralized ordering eliminates short-lived issues, bad MEV, rent extraction, and other problems associated with rollups operated by a single sequencer.
AltLayer raised $22.8 million through two rounds of private token sales, in which 18.50% of the total ALT token supply was sold 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 Coinbase CTO and former a16z global partner), Gavin Wood (co-founder of Ethereum and Parity), Sean Neville (Circle co-founder and USDC architect) and Ryan Selkis (founder of Messari), among others.
As of January 28, 2024, the total number of ALT held by Mountaintop Capital (Mountaintop Capital Team) is: 55,609,855.
