2024-05-03
On May 2, 2024, AltLayer introduced
reALT token to use for Phase II of AltLayer staking.
The reALT token is short for restaked
ALT token, is an ERC-20 token that is automatically compounded for users who
participate in AltLayer's main staking pool.
This innovative approach simplifies the
staking process by automating the reward compounding, allowing users to
effortlessly reap the benefits of their investment.
Underneath reALT is a token called
stALT, it also known as staked ALT token.
The reALT tokens are a representation
of the underlying ERC1155 token, stALT, which reflects the user's contribution
to the staking pool.
Users have the option to convert their
stALT to reALT manually through the network portal, providing flexibility and
control over their investments.
reALT can be delegated to Laucnhpools associated
with restaked rollups such as the Xterio pool, which utilizes restaked rollups.
Auto-compounding of ALT staking rewards
will happen on a weekly basis. It eliminates the need to unstake the main ALT
to participate in LaunchPools.
As a result, it maximizes staking APY.
The introduction of reALT has also had
a positive impact on the price of AltLayer's native token, ALT.
Following the announcement, 24-hour
price of ALT saw an increase of 13%, which is a testament to the community's
optimism and confidence in AltLayer's staking program.
The reALT token not only streamlines
the staking process but also maximizes rewards for users, which in turn
attracts new participants and contributes to the growth of the AltLayer
ecosystem.
These rollups enhance the security,
decentralization, interoperability, and crypto-economic fast finality of the
protocol.
AltLayer has introduced ALT, reALT, and stALT tokens so far.
