Key takeaways:
- Crypto.com has listed two new altcoins – AltLayer (ALT) and Celestia (TIA) – expanding its offerings in the crypto space.
- AltLayer is a decentralized protocol for creating Ethereum rollups, providing scalability solutions. It was previously launched on Binance Launchpool.
- Celestia is building a data availability layer for modular blockchains. It airdropped 60 million TIA tokens in October 2023. Staking TIA can provide eligibility for future airdrops.
Cryptocurrency platform Crypto.com has added support for two new altcoins, AltLayer (ALT) and Celestia (TIA).
AltLayer ($ALT) is now listed in the https://t.co/A7lhUEyoao Exchange!
?Trade $ALT easily with USD and deposit seamlessly via ERC-20
Sign up to the Exchange ? https://t.co/GBTPzwV3F0 pic.twitter.com/6vopPHMBwu
— Crypto.com Institutional (@Cryptocom_Insto) January 29, 2024
AltLayer is a decentralized protocol built to enable custom rollups on Ethereum’s blockchain. Rollups bundle transactions together and execute them on a separate layer to reduce congestion on the main Ethereum chain. Moreover, it utilizes the restaking mechanism of EigenLayer to deliver enhanced security, decentralization, and faster finality for its rollups.
The native token of AltLayer, ALT, serves multiple purposes like governance voting, incentivization, and fee payment. Now with the listing, Crypto.com users can easily purchase ALT with fiat currencies and spend it using Crypto.com’s Visa card.
Prior to being listed on Crypto.com, AltLayer was featured on Binance’s Launchpool platform where users could earn ALT tokens by staking BNB or FDUSD. It was subsequently listed on Binance exchange for trading on January 25th.
The second altcoin added by Crypto.com, Celestia, is a modular blockchain network aiming to build a scalable data availability layer to enable the next generation of modular blockchains.
TIA and KSM are now available for on-chain Staking in the Crypto․com App!
Start staking to secure your favourite blockchains while earning up to 12% rewards ?
? Enjoy the flexibility of unstaking your assets in a secure and convenient manner.@CelestiaOrg @KusamaNetwork pic.twitter.com/II8hYvrE0o
— Crypto.com (@cryptocom) January 29, 2024
Its native token TIA is used to pay for data storage, security, governance and staking on the network. In October 2023, Celestia conducted a large 60 million TIA token airdrop to reward early ecosystem contributors.
To be eligible for potential future airdrops, staking TIA is recommended. This can be done through user-friendly wallets like Kepler that support Tendermint-based blockchains including Celestia.
By supporting these two innovative altcoin projects focused on improving scalability and interoperability, Crypto.com is providing its users access to the latest developments in the evolving crypto and blockchain space.
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