Binance, a leading global cryptocurrency exchange, has broadened its portfolio by introducing AltLayer (ALT), the newest addition to its Binance Launchpool platform, as the 45th project.
AltLayer, focusing on developing native and restaked rollups with Optimistic and ZK Rollup Stacks.
This move provides Binance users with novel opportunities for staking and trading in the crypto market. Starting January 19, Binance users can stake their BNB and FDUSD in select pools to farm ALT tokens over six days. This system permits user interaction with ALT tokens before their official listing on the exchange.
The ALT token is scheduled to be listed on January 25, featuring trading pairs like ALT/BTC ALT/USDT, among others. ALT is assigned the seed tag, indicating its early market stage. The ALT Launchpool is structured with a detailed token distribution system, promoting user engagement. ALT’s total supply is limited to 10 billion, with 500 million allocated for Launchpool rewards.
The initial circulating supply is set at 1.1 billion ALT. The Launchpool offers two staking pool options, BNB and FDUSD, each with varied allocation percentages and rewards. The farming period extends from January 19 to January 24. Participation in the Launchpool requires regional eligibility and verified user accounts.
However, residents of certain countries, including the USA and Japan, are currently barred from farming ALT due to various regulatory and legal constraints. Binance facilitates the hourly collection of rewards, which users can stake in their spot accounts.
The exchange also continuously updates information on annual percentage yields and pool balances, enhancing the user experience and engagement in the Launchpool event.
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