The native token of the rollup platform AltLayer went live and began trading on centralized exchanges.

The token has seen a total of $300 million in trading volume across different exchanges within four hours of going live, according to CoinGecko data. It currently trades at $0.29, giving it a fully diluted valuation of $2.9 billion with 10 billion total tokens.

The ALT token opened for trading on Binance at 5 a.m. ET Thursday, the exchange notified.

AltLayer also opened claims for an airdrop, a token reward for certain eligible users. These users were selected based on a snapshot taken on Jan. 17, including those who had staked on Celestia, EigenLayer, holders of AltLayer’s NFTs and participants in its community campaigns.

The airdrop includes 300 million ALT tokens, constituting the …