AltLayer’s airdrop is the most recent in a wave of tokens within the modular blockchain area.
AltLayer, a mission providing companies to permit builders to shortly spin up rollups, has airdropped 300,000 ALT tokens to over 40,000 claiming addresses thus far.
The token’s market capitalization is $360M, based on CoinGecko and the airdrop represented solely 3% of ALT’s whole provide of 10B tokens. ALT can be accessible by staking property on Binance.
The highest deal with thus far claimed 1.29M tokens, price over $420,000 at ALT’s present worth of $0.32, based on a Dune dashboard. One different deal with obtained 1.19M tokens, price roughly $388,000.
Nearly all of the airdrop’s claimants thus far, constituting practically 40,000 addresses, obtained between 10,000 and 300,000 ALT.
ALT will probably be utilized in governance selections for AltLayer, to pay for charges, and produce other use circumstances, based on a publish from the mission.
Blockchain Modularity
AltLayer is a part of a burgeoning pattern in Ethereum in the direction of moduralization. Which means that completely different features of blockchains, just like the environments that execute code, the features that serve up information, and supply safety, are dealt with by completely different tasks.
Examples of tasks within the modularity area embody Eigenlayer, which allows staked ETH to safe different purposes, and Celestia, which serves up information to different blockchains.
AltLayer operates as a bridge between Eigenlayer and different rollups, that are scaling options for Ethereum, by means of its restaked rollups providing.
Airdrop Eligibility
Customers of each Eigenlayer and Celestia are eligible for the airdrop, however the largest allocations have been for holders of two NFTs produced by AltLayer and for members in a marketing campaign which concerned trailing completely different options adjoining to AltLayer. Every subgroup was eligible for simply over 37% of the ALT tokens.
The primary NFT, known as AltLayer OG NFT Badge, has 300 distinctive holders and a ground of 1.4 ETH, based on OpenSea. The NFT launched in July 2022. The opposite assortment, known as Oh Ottie!, launched in December that yr.
The marketing campaign got here in 4 distinct levels and requested customers to carry out duties like partaking with AltLayer on X, taking part in video games utilizing the mission’s options, and including testnets to wallets.
Just like the Celestia airdrop and plenty of others, the ALT providing is just not accessible to U.S. residents. Claims for the token will probably be open for a month. Simply over 60% of the eligible ALT tokens stay unclaimed.
AltLayer is asking the airdrop “Season One,” with the implication that additional tokens will probably be allotted to the mission’s neighborhood.
