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The world’s largest cryptocurrency exchange Binance’s altcoin launched with launchpool, has made a new staking announcement.

According to The Block, AltLayer (ALT) supported by Binance will allow investors to contribute to the ecosystem by staking their native cryptocurrency.

AltLayer, a decentralized platform that allows developers to easily create rollups with software such as OP Stack, Arbitrum Stack, ZKStack, and Polygon CDK, announced the multi-phase launch of ALT token staking with MACH Alpha.

The staking service will be used to ensure the security of Ethereum layer-2 scaling solutions and to assist in providing security.

MACH Alpha, on the other hand, is a service based on EigenLayer’s re-staking method to provide security.

AltLayer encourages EigenLayer operators and liquid restaking providers to join the rapid certainty service called MACH Alpha through collaboration channels.

According to CoinGecko data, the announcement had a minimal impact on the price of ALT. As of the writing, ALT is trading at $0.62.

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