AltLayer Secures $14.4 Million in Financing to Enhance Restaked Rollups Framework

This open-source and decentralized protocol is geared towards launching both native and restaked rollups, utilizing optimistic and Zero-Knowledge technology stacks. AltLayer The initiative (ALT) secured $14.4 million during a strategic fundraising round co-led by Polychain Capital as well as Hack VC.

The funds will be directed towards expanding the global workforce in response to an increase in strategic collaborations and to hasten the development of essential projects, including upgrades to the restaked rollups infrastructure.

Combining existing rollups Focusing on enhancing security, decentralization, interoperability, and swift finality for crypto-economics, AltLayer aims to develop restaked rollups that leverage diverse rollup stacks like OP Stack, Arbitrum Orbit, ZKStack, and Polygon CDK.

In essence, restaked rollups combine the ease of launching rollups using OP Stack, Arbitrum Orbit, ZKStack, and Polygon CDK with the effective restaking approach of EigenLayer, thereby bolstering network security and forging a decentralized ecosystem. ZKSync Furthermore, AltLayer provides an adaptable no-code Rollups-as-a-Service (RaaS) platform, which empowers developers to rapidly and effortlessly implement personalized rollups. This RaaS solution is designed for a multi-chain and multi-VM environment, offering factory support for both EVM and WASM.

The funding round, which wrapped up in September 2023, also included contributions from OKX Ventures, HashKey Capital, Bankless Ventures, Primitive Ventures, SevenX, Mask Network, IOSG, and TRGC, as per an official announcement.

Polychain Capital, alongside Jump Crypto and Breyer Capital, previously participated in an investment round that secured $7.2 million.

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AltLayer Revolutionizes Staking Foundations Airdrops Calendar .

Established in 2021 in Singapore, AltLayer pioneers the infrastructure necessary for developers to create highly customizable application-oriented rollups. The AltLayer framework is composed of a principal network—the 'Beacon Layer'—which serves as a cohesive sequencing, execution, and validation network for all rollups.

The project has distributed its native ALT tokens to users staking on Celestia and EigenLayer, holders of AltLayer NFTs, and participants in various community campaigns. An initial airdrop allocated around 300 million ALT tokens, valued at approximately $141 million or 3% of the total supply, with 83% of these tokens already claimed.

Recently, AltLayer launched Thanks to the recent influx of funding, AltLayer remains determined to transform decentralized innovation through rollup technology, enhancing both security and interoperability within the cryptocurrency realm.

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