AltLayer Secures $14.4 Million in Funding for Rollup Solutions

AltLayer Raises $14.4 Million in Strategic Funding Round

AltLayer, a rollups platform focusing on blockchain scalability, has successfully raised $14.4 million in a strategic funding round aimed at expanding the company’s team and advancing its rollup infrastructure. The fundraising round was co-led by Polychain Capital and Hack VC, with the participation of other key investors such as OKX Ventures, HashKey Capital, Bankless Ventures, and Breyer Capital.

Key Objectives of the Fundraising Round

• Expand the company’s team
• Advance rollup infrastructure
• Enhance blockchain scalability and interoperability

Statement from AltLayer on the Funding

AltLayer expressed excitement about enriching the ecosystem and bringing the full capabilities of restaked rollups to life in 2024 and beyond. The company remains committed to continuous development with the support of its stakeholders.

AltLayer Responds to Community Concerns

AltLayer recently addressed community concerns following the distribution of a $100 million airdrop, which favored certain non-fungible token (NFT) holders. The controversy surrounding the airdrop reignited discussions on the equitable distribution of tokens in community airdrops.

Response to Critiques

AltLayer’s head of growth responded to critiques on social media, outlining the circumstances surrounding the airdrop and addressing allegations of unfair token distribution.

Airdrop Structure and Community Engagement

The controversy centered on the structure of the airdrop and subsequent sales of NFTs, reigniting discussions on fair minting and distribution of tokens.

Celestia Stakers Eligible for “ALT Airdrop Season One”

AltLayer announced the commencement of their “ALT Airdrop Season One” for Celestia stakers, allowing eligible participants to claim ALT tokens within a specified period.

Claim Period

Eligible participants who completed the registration phase were instructed to participate in the claim process between Feb. 20, 0800 UTC and March 5, 0800 UTC, 2024.