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WebsiteBinance Launchpool

AltLayer (ALT)

IEO

AltLayer Network is a system of highly scalable application-dedicated execution layers that derive security from an underlying L1/L2. It is designed as a modular and pluggable framework for a multi-chain and multi-VM world.

Seed Round: $7.2M

Funding Round: Details

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Overview

Project industryBlockchain Infrastructure / Multi-Chain Platform / Layer-2
Product typePlatform
FoundedSingapore
WhitepaperAltLayer White Paper Open

What is AltLayer

AltLayer is developing a novel scaling solution that allows application developers to launch highly elastic execution environments. AltLayer can be seen as a system of individual optimistic rollups that derive security from an underlying Layer 1 (e.g., Ethereum) or Layer 2 (e.g., Arbitrum and Optimism), with each rollup tailored to a specific application. The system is designed for a multi-chain and a multi-VM world and therefore will have native support for EVM as well as WASM.

A key innovation that AltLayer brings to the scaling solution space is the idea of disposable execution layers. With AltLayer, a dApp developer expecting a surge in traffic for his application could:

  • Quickly spin up a fast and scalable rollup secured by a Layer 1
  • Use the rollup for as long as needed and thereby prevent clogging of blockspace in the underlying Layer 1, and then
  • Dispose of the rollup by performing an “end-of-life” settlement on the Layer 1

This makes the entire system highly resource-optimized. The execution layer and its resources are called upon only when the dApp expects a considerable demand that a Layer 1 can’t handle and once the demand tapers off, the dapp can move back to the Layer 1.

Details

IEO (Binance Launchpool): Jan 19, 2024 - Jan 24, 2024
Token supply: 10,000,000,000 ALT
Total tokens for sale: 500,000,000 ALT
Raised: 7,200,000 USD

Legal

Blockchain Platform: Ethereum
Country limitations: 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
Registration year: 2021

Token info

Ticker: ALT
Type: Utility-token
Token standard: ERC-20
Token distribution:
Binance Launchpool - 5%
Team - 15%
Investors - 18.5%
Strategic Advisors - 5%
Protocol Development - 20%
Ecosystem & Community - 15%
Treasury - 21.5%

Project team

Jia Yaoqi
Jia Yaoqi
Founder & CEO
Jia Yaoqi linkedin
Eng Wen Hau
Eng Wen Hau
Business Development Manager
Eng Wen Hau linkedin
Han Wen Chua
Han Wen Chua
Product Lead
Han Wen Chua linkedin
Yang Fan
Yang Fan
Core Developer
Yang Fan linkedin
Aparna Narayanan
Aparna Narayanan
Head of Communications
Aparna Narayanan linkedin
Charlie Chong
Charlie Chong
DevOps Engineer
Charlie Chong linkedin
Tan Jun Hao
Tan Jun Hao
Head of Product Engineering
Tan Jun Hao linkedin

Social media

AltLayer web-siteAltLayer MediumAltLayerYouTubeAltLayer TelegramAltLayer LinkedInAltLayer TwitterAltLayer DiscordAltLayer Github

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