Binance Launchpool Adds AltLayer for Staking and Trading Opportunities
Binance, the global crypto exchange, has announced the addition of AltLayer (ALT) as the 45th project on its Binance Launchpool platform. AltLayer focuses on developing native and restaked rollups, which incorporate Optimistic and ZK Rollup Stacks. This innovative approach brings significant advancements to the cryptocurrency industry.
Starting from January 19, Binance users can stake their BNB and FDUSD in specific pools to farm ALT tokens for a period of six days. This allows users to engage with ALT tokens before they are officially listed on the exchange.
Listing Details and Token Distribution System
AltLayer is scheduled to be listed on January 25, with trading pairs including ALT/BTC, ALT/USDT, ALT/BNB, ALT/FDUSD, and ALT/TRY. The allocation of the seed tag to ALT indicates its early stage in the market.
The ALT Launchpool offers a comprehensive token distribution system and user engagement avenues. The total supply of ALT is capped at 10 billion, with 500 million designated as Launchpool token rewards, representing 5% of the total supply. The initial circulating supply is set at 1.1 billion ALT, accounting for 11% of the total.
Farming Rewards and Participation Requirements
Binance enables hourly collection of farmed rewards, allowing users to directly stake them into their spot accounts. The exchange also provides regular updates on the annual percentage yield (APY) and total balance of each pool.
Participation in the Launchpool is subject to regional eligibility and requires user account verification. Residents of certain countries such as Canada, Cuba, Iran, Japan, and the United States are currently excluded from farming ALT due to regulatory and legal restrictions.
Hot Take: AltLayer Joins Binance Launchpool for Enhanced Staking and Trading Opportunities
Binance has added AltLayer to its Launchpool platform, bringing new possibilities for cryptocurrency staking and trading. AltLayer’s focus on developing native and restaked rollups, incorporating Optimistic and ZK Rollup Stacks, represents a significant advancement in the crypto sector. By staking BNB and FDUSD, users can farm ALT tokens before they are officially listed on Binance. The ALT Launchpool offers a detailed token distribution system, with 5% of the total supply designated as Launchpool token rewards. Binance provides continuous updates on farming rewards and ensures easy access to staked funds. However, participation in the Launchpool is subject to regional eligibility and user verification requirements.
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