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Ethereum Scaling Solution AltLayer Launches With $100 Million Airdrop

AltLayer's groundbreaking launch with a $100 million token airdrop sets a new standard for Ethereum scaling solutions.

Fri, 26 Jan 2024, 13:26 pm UTC

AltLayer recently became the first of at least three protocols to go live with an impressive $100 million token airdrops scheduled for the upcoming week. The launch marks a milestone in the field of blockchain technology, offering promising solutions for Ethereum's scalability issues.

The much-anticipated ALT token and the claiming process were officially made available to the public as of Jan. 25, 9 am UTC, as per Cointelegraph. A staggering 300 million tokens were allocated for the initial airdrop, resulting in a total value of approximately $96 million based on the current average daily price of $0.32 per token.

However, Celestia stakers eager to participate in the ALT airdrop will have to exercise patience as AltLayer reported technical differences delaying the distribution to Celestia. Despite this delay, AltLayer's airdrop comes at a time when several other projects are also expected to distribute their respective tokens to eligible recipients within the same timeframe.

Dymension and Jupiter to Follow Suit

According to ADVFN, among these projects is Dymension, a multilayer rollup deployer poised to launch its mainnet in the near future. Dymension plans to airdrop 70 million DYM tokens, primarily benefiting Celestia stakers and Pudgy Penguin NFT holders, as well as participants in the Solana and Ethereum ecosystems.

Furthermore, the Solana-based decentralized exchange Jupiter has confirmed the launch of its highly anticipated JUP token on Jan. 31. A total of 1 billion tokens will be distributed through the airdrop, making it potentially worth around $410 million based on the current pre-market trading price of approximately $0.41 per token.

Bitcoin Ordinals Users Could Benefit from Airdrop

In addition, Bitcoin Ordinals users may also have an opportunity to participate in an airdrop. Ordinals developer Leonidas recently announced the launch of "Runestone," a decentralized "fairdrop" initiative designed to reward early users of the Ordinals protocol. The airdrop aims to incentivize users' early adoption and engagement.

While airdrops offer exciting possibilities, crypto users must exercise caution. The X platform is currently plagued by scam accounts posing as crypto firms' official social media pages announcing airdrops. Users must remain vigilant to avoid falling victim to these fraudulent schemes.

Photo: Traxer/Unsplash

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