AltLayer Raises $14.4 Million in Strategic Funding Round for Rollup Solutions
AltLayer, a rollups platform focused on blockchain scalability, has successfully raised $14.4 million in a strategic funding round. The funding round was co-led by Polychain Capital and Hack VC, with the goal of expanding AltLayer’s team and advancing its rollup infrastructure. Other participants in the funding included OKX Ventures, HashKey Capital, Bankless Ventures, and Breyer Capital.
The funds raised will be used to enhance blockchain scalability and interoperability, furthering AltLayer’s mission to bring restaked rollups and other Web3 infrastructure to the forefront.
AltLayer Executive Responds to Community Distrust
AltLayer recently addressed concerns from the community regarding the distribution of a $100 million airdrop. The company’s Head of Growth explained that the distribution favored certain non-fungible token (NFT) holders due to circumstances surrounding the airdrop.
The controversy stemmed from allegations of unfair token distribution, where select users received significant amounts and profited from subsequent NFT sales. AltLayer clarified that both NFT collections were initially dropped as fair mint and announced with a future token airdrop two years ago as part of community engagement activities.
Another Airdrop for Celestia Stakers
AltLayer has also announced the launch of their “ALT Airdrop Season One” for Celestia stakers. Eligible participants can claim ALT tokens during the claim phase, which will take place between February 20 and March 5, 2024.
To initiate the claim process, eligible participants who have previously registered need to visit the official claim portal and navigate to the Celestia tab.
Hot Take: AltLayer Raises Funds to Drive Blockchain Scalability
AltLayer’s successful funding round demonstrates the growing interest and support for blockchain scalability solutions. With $14.4 million in strategic funding, AltLayer aims to enhance blockchain scalability and interoperability, bringing restaked rollups and Web3 infrastructure to the forefront.
The company’s response to community concerns regarding the airdrop distribution showcases transparency and addresses criticisms. AltLayer continues to engage with the community and work towards equitable token distribution.
The launch of the “ALT Airdrop Season One” provides an opportunity for Celestia stakers to claim ALT tokens, further engaging and rewarding participants in AltLayer’s ecosystem.
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