Its another week and a time to look out on what's new in the every dynamic world of crypto. This weekend, I was talking a look around the crypto space especially when it comes to token airdrops and I got to learn about the AltLayer token which users are currently farming in Binance. I decided to bring this airdrop alert so you could join after you have done your own research.
About AltLayer
Web3 scaling solutions continue to pop up here and there with various technologies attempting to make blockchain transactions faster. AltLayer is one of them. This protocol allows DApps developers to launch projects or apps on the frame work which is designed to be highly scalable. It simply means that AltLayer is a L2 scalability solution for Dapp developers.
Both native and restacked rollups are supported on the AltLayer protocol. The whole setup saves time for DApp teams that will just launch on this framework without having to develop everything from scratch. Preparing to launch their token in one the largest crypto exchange platform Binance, AltLayer has decided to reward loyal fans and investors by airdropping some of the token ahead of the launch date which would happen in few days from now.
AltLayer in Binance launchpool
Many in the crypto space are already familiar with Binance launchpool. If you are not, then let me explain. Launchpool is a platform in Binance that allows user to farm tokens as part of their IEO. Users just stake BNB or other coins and farm the tokens to be launched until the launching date. AltLayer is thus the next crypto project which is now live in Binance launchpool.
How to get the airdrop
Everyone is invited to participate so long as they have a verified Binance account. There are two separate pool to farm. The BNB pool and the FDUSD pool. Each of the pools have a separate allocation of AltLayer token. The BNB pool has 80% of the tokens to be airdropped while the FDUSD pool has about 20% of the remaining tokens to be airdropped. Below are some other necessary details:
- Token name: AltLayer
- Token Symbol: Alt
- Total amount to be airdropped: 500000000
- Airdrop start date: 19th January 2024
- Airdrop end date: 25th January 2024
Current state of the airdrop
As with many Binance launchpool projects, AltLayer has a lot of people already participating in it to gain the airdrop. As at the time of making this post, the launchpool has already seen a very large staking by participants.
The BNB pool currently has $15m total amount staked by all participants. The FDUSD pool has an even larger pool of more than $1B in total amount staked already. This shows that lots of people are already involved. Of course, you will always remember to do your own research before getting involved.
What happens after the airdrop
The airdrop will happen for 6 days. After that time, all tokens earned by participants are found in their spot wallet balance. Binance will then list AltLayer on Monday, the 25th days of January 2024 by 10 UTC.
Once the coin is listed, it would be open to trading on the following pairs
ALT/BNB,
ALT/FDUSD
ALT/BTC
ALT/USDT
You would then be free to trade your airdropped tokens in the open market.
Finally
So if you have free BNB or FDUSD, why not take a look at the project and see if you want to become part of it. AltLayer could be a successful project in the future who knows. But again, try to Do Your Own Research before getting involved.