Founded on September 8th, 2020 in Utrecht, Netherlands, AllianceBlock tokens are the backbone of the AllianceBlock Ecosystem. The AllianceBlock Protocol is a decentralized, blockchain-agnostic layer 2 that aims to bridge traditional and decentralized finance and automate the process of converting any digital or crypto asset into a bankable product. The ALBT token serves as a multi-purpose tool to be utilized as the primary medium of exchange, means of reward for ecosystem participants, and network fee payment mechanism. In addition the ALBT token will act as the currency reserve of the ecosystem reserve pool and as a governance token for voting and power delegation. Token utility and scarcity is further achieved via a number of deflationary features including node staking, liquidity pooling, quarterly revenue-based token burns, and quarterly activity-based token burns.
