AltLayer’s airdrop is the most recent in a wave of tokens within the modular blockchain area.
AltLayer is a mission that gives builders with a fast begin aggregation service and has to date airdropped 300 million ALT tokens to greater than 40,000 claiming addresses.
Based on CoinGecko, the token has a market capitalization of $360 million, and the airdrop represents solely 3% of the entire provide of ALT 10B tokens. ALT may also be obtained by staking belongings on Binance.
Based on the Dune dashboard, the highest handle has 1.29 million tokens to date, which is value over $420,000 at ALT’s present value of $0.32. One other handle acquired 1.19 million tokens, value roughly $388,000.
To this point, most recipients of the airdrop (almost 40,000 addresses) have acquired lower than 10,000 ALT.
Based on a put up on the mission, ALT might be used for AltLayer’s governance choices, fee of charges, and different use instances.
Blockchain modularization
AltLayer is a part of the modularization pattern in Ethereum. Which means completely different features of the blockchain, such because the surroundings wherein the code is executed, the operate of offering knowledge and the operate of offering safety, are dealt with by completely different tasks.
Examples of tasks within the modular area embrace Eigenlayer, which allows staked ETH to safe different functions, and Celestia, which offers knowledge to different blockchains.
AltLayer acts as a bridge between Eigenlayer and different Rollups that present scaling options for Ethereum by way of its recollateralized Rollups product.
Brief funding qualification
Customers of each Eigenlayer and Celestia are eligible for the airdrop, however the largest allocations are to holders of the 2 NFTs produced by AltLayer and to contributors concerned in actions monitoring completely different options close to AltLayer. Every group is eligible to obtain simply over 37% of the ALT tokens.
Based on OpenSea, the primary NFT, known as the AltLayer OG NFT Badge, has 300 distinctive holders and a decrease restrict of 1.4 ETH. NFT launches in July 2022. One other collection known as Oh Ottie! , launched in December of that yr.
The marketing campaign is split into 4 completely different phases, requiring customers to carry out duties comparable to interacting with the AltLayer on X, taking part in video games with the mission’s answer, and including a testnet to the pockets.
Just like the Celestia airdrop and lots of different airdrops, ALT merchandise aren’t out there to residents of america. Token claims might be open for one month. Over 60% of eligible ALT tokens stay unclaimed.
AltLayer refers back to the airdrop as “Season 1,” hinting that extra tokens might be distributed to the mission’s neighborhood.
