Ethereum Scaling Protocol AltLayer Airdrops $100M Worth of Tokens

AltLayer, a decentralized protocol that enables Ethereum developers to deploy rollups and other scaling solutions, has launched its ALT airdrop, distributing tokens worth over $100 million to eligible community members.

📢Update: $ALT Airdrop Claims have now opened as of 9:00 AM UTC. https://t.co/LpfHsHu4Gk

Those eligible for AltLayer Airdrop Season One – please visit the official airdrop website to claim your $ALT!

Rest assured you will have one month to claim your $ALT tokens. https://t.co/zSYJw8gGt4

— AltLayer (@alt_layer) January 25, 2024

AltLayer is compatible with existing scaling networks such as Arbitrum, Optimism, and Polygon. In addition to its open protocol, AltLayer offers a “rollups-as-a-service” feature for custom-building scaling integrations.

With 300 million ALT tokens made available in this initial drop, the total value of the AltLayer airdrop stands at just under $100 million. 

See Also: AltLayer Token (ALT) $100 Million Airdrop Coming Next Week, Watch Out!

Users that are eligible to claim the airdrop includes AltLayer OG Badge NFT holder, Oh Ottie! NFT holder, participants of AltLayer’s Altitude campaigns, EigenLayer restakers and Celestia stakers. 

Approximately 500,000 wallets are eligible for the airdrop. The ALT airdrop claim will remain open until February 25, after which any unclaimed tokens will be sent to the AltLayer treasury.

#Binance lists @alt_layer $ALT!

Trading is now live ➡️ https://t.co/dnv1O6EX8C pic.twitter.com/wswq5TUBAB

— Binance (@binance) January 25, 2024

The ALT token was launched via Binance Launchpool, which opened farming from January 19 to January 25. 

ALT began trading on Thursday, and has already gained 11.7%, reaching its current price of $0.3126. 

It also saw substantial trading volumes of over $652 million, making it the 10th most traded token over the past 24 hours.

AltLayer’s airdrop comes amid a resurgence of airdrops in recent months, fueled by a market wide rally in the last quarter of 2023. 

Notable recent airdrops include Solana’s Jito Protocol, Pyth Network and Manta Network.