AltLayer, a decentralized protocol, has announced the successful completion of the swap of 400 million $ALT tokens from BNB Chain to Ethereum Chain. This move aims to maintain liquidity stability on the Binance platform.
Goals of the $ALT Token Swap
The swap of 400 million $ALT tokens from BNB Chain to Ethereum Chain was executed to ensure liquidity stability. This step also aimed to control the overall token supply of $ALT, preventing liquidity decline on ERC20 tokens due to a surge in trading demand.
Process of the $ALT Token Swap
The swap process included burning 400 million $ALT tokens on BNB Chain and minting an equivalent amount on Ethereum Chain. This exchange was conducted on-chain and is verifiable by the public, ensuring transparency and security of the operations.
Confirmation of Token Liquidity Status
AltLayer confirmed via its official social media accounts that the status of the total circulating supply of $ALT tokens on both blockchains remains unchanged. This confirmation underscores AltLayer's commitment to transparency and trust in addressing infrastructure needs across diverse blockchain ecosystems.
In conclusion, the successful completion of the $ALT token swap represents an important step in ensuring liquidity on the Binance platform and reinforces AltLayer's high standards of transparency and security.
