By
Godfrey Benjamin
July 3rd, 2024
The listing of ALT on Binance is scheduled for January 25.
Binance is introducing a new project called AltLayer (ALT) on its Launchpool platform. It is a platform designed to enhance the security, decentralization, and interoperability of rollup technology within the cryptocurrency space.
Starting from January 19, 2024, and lasting for six days, users can stake their BNB and FDUSD in the designated pools to farm ALT on the Binance Launchpool. This means that participants can contribute their tokens to the project and earn ALT tokens in return. It’s an excellent opportunity for cryptocurrency enthusiasts to actively engage and potentially benefit from the AltLayer project.
Once the farming period concludes, The token will be listed on the Binance exchange for trading. Traders will be able to exchange ALT tokens for various cryptocurrencies such as BTC, USDT, BNB, FDUSD, and TRY. This listing provides liquidity and accessibility for ALT, enabling investors to buy, sell, and trade them on the Binance platform.
Some Information About the ALT Launchpool Tokenomics
Here are some important details to note about the AltLayer project.
AltLayer (ALT) has a maximum of 10 billion tokens. In the farming period, 500 million ALT tokens will be given as rewards, which is 5% of the total supply. At the start, there will be 1.1 billion ALT tokens available. To stake ALT in BNB and FDUSD pools, users will need to complete KYC verification. Stake limits are 277,777.77 ALT per hour in the BNB pool and 69,444.44 ALT per hour in the FDUSD pool.
The farming period is from January 19 to 24, 2024. Throughout the farming period, users’ token balances and the overall pool balances will be regularly recorded. This information is used to calculate the rewards that participants are eligible to receive. Users have the flexibility to claim their rewards at any time during the farming period, and the rewards will be directly deposited into their spot accounts.
Upon the conclusion of the farming period, ALT tokens and any unclaimed rewards will be automatically transferred to the spot accounts of the users. This ensures a seamless transition and ensures that participants can readily access their ALT tokens. The listing of ALT tokens for trading on January 25, 2024, provides an opportunity for traders to engage in buying and selling ALT on the Binance exchange.
It’s important to be aware that participating in the Launchpool is subject to eligibility based on the user’s country or region of residence. Users must complete the account verification process and be from an eligible jurisdiction to participate. Certain countries, including Canada, Cuba, Iran, Japan, the United States, and others, are excluded from participating in this particular project.
For a comprehensive understanding and any updates regarding the AltLayer (ALT) project, interested readers are advised to refer to the original information provided by Binance.
Participating in the AltLayer (ALT) project offers the opportunity to earn ALT tokens as rewards by staking BNB and FDUSD. By engaging in the farming period, participants can potentially benefit from the project’s growth and the future value of the tokens.