According to Foresight News, AltLayer announced on X that due to the surging demand for the ERC20 version of ALT on Binance, the token's liquidity has become tight. As a result, Binance requested AltLayer's assistance in conducting a cross-chain token exchange from BEP20 to ERC20 to balance liquidity.
AltLayer stated that the exchange will be carried out through an on-chain mechanism: burning an equivalent amount of BEP20 ALT on the BNB Chain while minting an equivalent amount of ERC20 ALT on Ethereum, ensuring that the total circulating supply remains unchanged. Users will see Binance withdrawing 400 million BEP20 ALT and burning them, followed by an equivalent amount of ERC20 ALT being unlocked on Ethereum and transferred to a wallet controlled by Binance. AltLayer will publish the relevant on-chain transaction links after the exchange is completed to ensure the transparency of the entire process.
