AltLayer has announced changes to its token vesting schedule just ahead of its first $109 million ALT token unlock on July 25, 2024. The decentralized rollups protocol will pause further token unlocks for six months following this event.
This marks the first token unlock since AltLayer’s Token Generation Event on January 25, 2024. According to the new schedule, the next unlock will occur on January 25, 2025.
The standout feature of this update is the extended vesting period: two years for investors and partners, and three years for the team, treasury, and others, starting January 25, 2025. This approach aims to ensure the long-term stability and growth of the ecosystem.
With 42.08% of the circulating supply hitting the market, the initial unlock will significantly impact the token’s liquidity. The price of ALT rose by 5% following the announcement, trading at around $0.16.
This strategic change underscores AltLayer’s commitment to fostering a stable and sustainable ecosystem in the rollup and staking space.
