Binance launches AltLayer on Launchpool, expands crypto investment options
Binance has added AltLayer as the latest project on its Binance Launchpool platform, offering users new opportunities for cryptocurrency staking and trading.
Global crypto exchange Binance has recently introduced AltLayer (ALT) as the 45th project on its Binance Launchpool platform. AltLayer is focused on developing native and restaked rollups, incorporating both Optimistic and ZK Rollup Stacks, representing a significant innovation in the cryptocurrency sector.
Starting from Jan. 19, Binance users can stake their BNB and FDUSD in specific pools to farm ALT tokens over a period of six days. This approach allows users to interact with ALT tokens before officially being listed on the exchange.
AltLayer is scheduled to be listed on Jan. 25, with trading pairs including ALT/BTC, ALT/USDT, ALT/BNB, ALT/FDUSD, and ALT/TRY. The assignment of the seed tag to ALT highlights its nascent stage in the market.
The ALT Launchpool is structured to offer a detailed token distribution system and avenues for user involvement. The total supply of ALT is capped at 10 billion, with 500 million ALT designated as Launchpool token rewards, amounting to 5% of the total supply.
The initial circulating supply is set at 1.1 billion ALT, 11% of the total. The Launchpool provides two staking pool options – BNB and FDUSD – each with different allocation percentages and rewards. The farming period is fixed from Jan. 19 to Jan. 24.
Binance facilitates the hourly collection of farmed rewards for users, which can be directly staked into their spot accounts. Additionally, the exchange provides continuous updates on the annual percentage yield (APY) and the total balance of each pool.
Participation in the Launchpool is contingent on regional eligibility and necessitates user account verification. Residents of several countries, including Canada, Cuba, Iran, Japan, and the United States, are currently excluded from farming ALT due to various regulatory and legal restrictions.
