Rollup platform AltLayer has launched the second phase of its staking program, introducing re-staked ALT tokens, or reALT.
AltLayer is a decentralized protocol that allows developers to create rollups-as-a-service across software stacks such as OP Stack, Arbitrum, and Polygon CDK. The project also plans to introduce “Restaken Rollup,” a layer 2 project that leverages EigenLayer’s restaking mechanism to bootstrap network security.
AltLayer’s native ALT token was launched in January, and ALT staking was later activated in March. Restaked ALT is now an auto-synthetic ERC-20 token issued to users who stake ALT in AltLayer’s main staking pool, with weekly rewards earned automatically accumulating.
Existing holders of the native stALT token (Staked ALT), an ERC-1155 token that represents the holder’s staking contribution to a staking pool, can also convert stALT to reALT using AltLayer’s Staking Portal tool.
How REALT works
Once minted, reALT can be used by multiple pools for re-staked rollups, such as the Xterio pool, the AltLayer team explained in a blog post Thursday. This allows users to participate in more than one pool simultaneously without having to unstake from the main ALT staking pool, increasing their staking returns by exposing them to other re-stake rollup communities and incentives.
Significant changes in Phase 2 include the deprecation of the initial Xterio LaunchPool and a new reALT-based pool in place, allowing existing stakers to withdraw and migrate immediately. The main ALT staking pool also now allows for instant withdrawals, but the cooldown period will be restored to 21 days, seven days after the start of Phase 2, the team said.
The introduction of reALT is central to the AltLayer ecosystem and ensures greater stakeholder engagement as we prepare for the launch of MACH Alpha, a rapid final service to help secure and scale layer 2 rollups.
In February, AltLayer announced that it had raised $14.4 million in a strategic funding round co-led by Polychain Capital and Hack VC.
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