Introducing AltLayer (ALT) on Binance Launchpool! Farm ALT by Staking BNB and FDUSD

Fellow Binancians,

Binance is excited to announce the 45th project on Binance Launchpool - AltLayer (ALT), a platform to launch native and restaked Rollups with both Optimistic and ZK Rollup Stacks. The webpage is estimated to be available in 24 hours, before the Launchpool starts. 

Users will be able to stake their BNB and FDUSD into separate pools to farm ALT tokens over six days, with farming starting from 2024-01-19 00:00 (UTC).

Listing

Binance will then list ALT at 2024-01-25 10:00 (UTC) and open trading with ALT/BTC, ALT/USDT, ALT/BNB, ALT/FDUSD and ALT/TRY trading pairs. The Seed Tag will be applied to ALT.

ALT Launchpool Details:

• Token Name: AltLayer (ALT)

• Max Token Supply: 10,000,000,000 ALT 

• Launchpool Token Rewards: 500,000,000 ALT (5% of max token supply)

• Initial Circulating Supply: 1,100,000,000 ALT (11% of max token supply)

• Smart Contract Details: BNB Chain, Ethereum

• Staking Terms: KYC required 

• Hourly Hard Cap per User: 

  • 277,777.77 ALT in BNB pool

  • 69,444.44 ALT in FDUSD pool

 Supported Pools: 

• Stake BNB (webpage will be available in around 24 hours): 400,000,000 ALT in rewards (80%) 

• Stake FDUSD (webpage will be available in around 24 hours): 100,000,000 ALT in rewards (20%)

• Farming Period: 2024-01-19 00:00 (UTC) to 2024-01-24 23:59 (UTC).

 ALT Farming Distribution

Read about AltLayer (ALT) in our research report here, which will be available within 30 minutes of publishing this announcement.

Project Links

Website: https://altlayer.io/

Whitepaper: https://docs.altlayer.io/

X: https://twitter.com/alt_layer
Discord: https://discord.com/invite/altlayer 
Telegram: https://t.me/altlayer
Medium: https://blog.altlayer.io/

Please note:

• Snapshots of user balances and total pool balances will be taken multiple times at any point of time each hour to get users’ hourly average balances and calculate user rewards. User rewards will be updated each hour. 

• Users will be able to accumulate their rewards (calculated each hour) and claim these rewards directly to their spot accounts at any time.

• Each pool’s annual percentage yield (APY) and total pool balance will be updated in real time.

• Tokens can only be staked in one pool at a time. For example, User A cannot stake the same BNB into two different pools at the same time, but can allocate 50% of their BNB into pool A and 50% into pool B.

• Users will be able to unstake their funds at any time with no delay and participate in any other available pools immediately.

• Tokens staked in each pool and any unclaimed rewards will be automatically transferred to each user’s spot accounts at the end of each farming period.

• Binance BNB Vault and Locked Products will support the Launchpool. Users who have staked their BNB in BNB Vault and Locked Products will automatically participate in the Launchpool, and receive new token rewards.

• If there are more than one Launchpool projects running concurrently, users' BNB assets in BNB Vault and Locked Products will be split and allocated into each project equally unless otherwise specified.

• BNB Vault assets collateralizing against Binance Loans (Flexible Rate) are not entitled to Launchpool rewards.

• BNB staked into Launchpool will still provide users with the standard benefits for holding BNB, such as airdrops, Launchpad eligibility and VIP benefits.

Participation in Launchpool is subject to eligibility based on the user's country or region of residence. Please refer to the instructions on the Launchpool page.

Please note that the list of excluded countries provided below is not exhaustive and may be subject to changes due to evolving local rules, regulations, or other considerations.Users need to complete their account verification and also be from an eligible jurisdiction to participate in farming ALT. 

Currently, users residing in the following countries or regions will not be able to participate in farming ALT: Canada, Cuba, Crimea Region, Iran, Japan, New Zealand, Netherlands, North Korea, Syria, United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands) and any non-government controlled areas of Ukraine

This list may be updated periodically to accommodate changes in legal, regulatory, or other factors.

Note: There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.

Thank you for your support!

Binance Team

2024-01-17

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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.

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