AltLayer secured $14.4 million strategic investment co-led by Polychain Capital and Hack VC

AltLayer is a platform that help developers create and launch rollups. It raised $14.4 million strategic investment from VC firms co-led by Polychain Capital and Hack VC.

 AltLayer on X: AltLayer has secured an impressive $14.4M from top VCs in a strategic fundraising round. 

Fred Ehrsam co-founder of Coinbase is one of the co-founders of Polychain Capital.

AltLayer launched its native token called ALT last month. ALT began trading on Binance on Jan 25, 2024 at 10:00 UTC.

Here are some of AltLayer products

1. Launch layer 2 rollups.

AltLayer help crypto projects to build customized rollups using blockchain development tools including OP Stack, Arbitrum Orbit, Polygon CDK, zkSync, and ZK Stack.

2. Use data availability from various data availability providers. 

Developers can pick data availability providers including EigenLayer, Celestia, Avail, and NEAR.

They provide cheaper transaction fees compare to regular blockchains by reducing cost of transactions on blockchain’s data availability layer.