Rollup platform AltLayer has rolled out the second phase of its staking program, introducing the restaked ALT token or reALT.

AltLayer is a decentralized protocol that enables developers to create rollups from software stacks such as OP Stack, Arbitrum, and Polygon CDK, described as rollup-as-a-service. The project also plans to introduce what are known as “restaked rollups” — Layer 2 projects that leverage EigenLayer’s restaking mechanism to bootstrap network security.

AltLayer’s native ALT token was launched in January, with ALT staking subsequently enabled in March. Restaked ALT is an auto-compounding ERC-20 token now issued to users staking ALT in AltLayer’s main staking pool that automatically accumulates the rewards earned on a weekly basis.

Existing holders of the underlying …