About AltLayer (ALT)
AltLayer operates as an open, decentralized protocol for rollups, introducing the concept of Restaked Rollups. This approach combines various rollup stacks, such as OP Stack, Arbitrum Orbit, Polygon CDK, and ZK Stack, enhancing their security, decentralization, interoperability, and fast finality through a restaking mechanism.
The native utility token of AltLayer is ALT, which serves multiple functions within the ecosystem, including paying for transaction and services within the network. ALT tokens and restaked assets provide an economic stake that may be subject to penalties in cases of detected malicious behavior. Holders of ALT tokens have the privilege to participate in governance decisions.
AltLayer's primary features include three products:
VITAL: This service involves operators actively validating blocks and states committed by the rollup sequencer, including the issuance of fraud proof challenges when necessary.
MACH: This protocol accelerates finality for rollups, allowing operators to restake Ethereum-based assets to support claims on the rollup state.
SQUAD: Focused on decentralized sequencing, this feature aims to address issues like liveness concerns and rent extractions by eliminating reliance on a single sequencer.
Investors in AltLayer include Polychain Capital, Binance Labs, Jump Crypto, and individuals such as Balaji Srinivasan, Gavin Wood, Sean Neville, and Ryan Selkis.
Currently, ALT has a total supply of 10 billion, with 1.1 billion tokens (11% of the total supply) circulating upon listing.