AltLayer Moves Up ALT Token Unlock Schedule, Mimicking Worldcoin

According to the initial plan, AltLayer was set to carry out its first token unlock for investors, the team, advisors, and the treasury on July 25, 2024. This unlock was expected to allocate 684 million ALT tokens, representing 42% of the circulating supply, valued at approximately $99.8 million at the time of writing.

However, to ensure the project’s stability and long-term growth, all relevant parties have agreed to postpone the unlock to January 24, 2025. This means that no new ALT tokens will be introduced into circulation during this period.

The unlock schedule from January 25, 2025, will be as follows:

Unlock over 2 years for investors and strategic partners.
Unlock over 3 years for the team, advisors, the reserve fund, and other individuals and organizations.

AltLayer is a decentralized protocol that supports developers in creating rollups, compatible with various SDKs like OP Stack, Arbitrum Orbit, Polygon zkEVM, zkSync’s ZK Stack, and StarkWare, along with shared sequencing services such as Espresso and Radius.

This news has been compared to Worldcoin by many in the cryptocurrency community, noting that Worldcoin recently adjusted its tokenomics. This information led to a 70% increase in Worldcoin (WLD) prices. However, for AltLayer (ALT), some believe this move is an attempt to retain holders as AltLayer’s position in the restaking segment has diminished.

AltLayer (ALT) Price Movement

Following this announcement, ALT’s trading volume surged by 118% compared to the previous day. However, the price remained relatively stable, trading around the $0.14 mark.

(1 vote)