What is ALEX? . Learn about the details of how ALEX works, its remarkable features, and the tokenomics of the ALEX token.

What is ALEX?

ALEX (Automated Liquidity Exchange) is a Bitcoin-oriented DeFi platform built through Stacks (STX) smart contracts. ALEX allows users to participate in the project's IDO through the issuance platform, exchange tokens through AMM Dex, obtain income through staking, and create liquidity in DeFi.

The ALEX Lab Foundation is a non-profit organization that supports the governance and development of the ALEX DeFi platform.

ALEX Products and Sales

ALEX products

Currently, ALEX has the following products:

  • Swap

  • Liquidity Pool

  • Stake

  • Yield Farm

  • Lend & Borrow

  • Orderbook (Testnet)

  • Launchpad (IDO and Lottery)

1.ALEX exchange

It is a decentralized exchange (Dex) that allows users to exchange multiple tokens with each other. Transaction fees are low, processing is fast, and exchanges will be completed on the app and easily transferred to the wallet.

2. Liquidity pool

Users can create liquidity in the pool and receive trading fees from it (0.3% per trade), 50% of which is owned by the liquidity provider (liquidity creator) and 50% by the platform. Additionally, ALEX allows harvesting the farm, locking LP tokens and receiving reward tokens (ALEX).

As of this writing (April 5, 2023), ALEX has 12 liquidity pools: ALEX, NYC, MIA, xUSD, autoALEX, SLIME, USDA, BANANA, xBTC, USDA/xUSD, DIKO, and CORGI.

3. Pledge

Similar to other DeFi protocols, ALEX also supports users to stake on the platform and receive rewards. The more times you stake, the higher your profit will be. Users have 2 staking options:

  • Automatic ALEX Staking

  • Manual ALEX Staking

The total pledged amount on the platform has reached a peak of 10 million ALEX (October 26, 2022), and as of April 5, 2023, the cumulative level has exceeded 105 million ALEX.

4. Harvest Farm

Unlike the staking model, Harvest Farm will require users to provide liquidity of two tokens to obtain LP tokens. This way, users can earn additional ALEX and APower tokens in addition to liquidity pool trading fees.

5.Lending & Borrowing

As a decentralized lending platform, ALEX allows users to borrow and lend various assets based on market supply and demand. Unlike many other DeFi protocols, ALEX uses collateral rebalancing pools (CRPs) to avoid the risk of users being forced to liquidate.

6. Issuance platform (lottery and IDO)

Serves as a distribution platform to support new projects in the community. There will be two forms of issuance platforms, lottery and IDO.

Lottery: ALEX holders can own tickets and participate to receive more ALEX, and can own as many tickets as they want to hold as many tokens.

IDO: is a form of crowdfunding where users need to stake tokens (ALEX, STC or APower) to qualify. Cumulative APower users will gain access and participate in the IDO of the next big project on Stacks. In addition, new projects can also apply for the ALEX review and issuance platform.

7.ALEX order book

It is a new feature of ALEX public testing that allows users to trade based on the order book mechanism.

ALEX’s income

Users need to pay 0.3% for each transaction. 50% of this will be used as a bonus for liquidity creators, and the remaining 50% will be transferred to ALEX, which is also the protocol revenue - the revenue of the platform.

Based on the total transaction volume (volume) achieved by ALEX Analytics on 06/04/2023: $105,803.00, users are required to pay 0.3% or $317.40 (daily). Therefore, the protocol revenue received will be $158.70.

In addition, ALEX can generate revenue through many other products.​

Highlights of ALEX

All transactions on ALEX are based on the security of the Bitcoin network. The platform works similarly to many DeFi protocols, but it stands out in terms of increasing the applicability of BTC, as BTC has not been mentioned or used in DeFi to date. In addition, features such as the issuance platform, leverage, etc. are part of ALEX’s tools and are designed to help participants profit from them while limiting liquidation risks.

What is ALEX token?

ALEX Token Key Metric 

  • ​​Token Name: ALEX Lab

  • Ticker: ALEX

  • Blockchain: Stacks

  • Token Contract: SP3K8BC0PPEVCV7NZ6QSRWPQ2JE9E5B6N3PA0KBR9

  • Token Type: Utility, Governance

  • Total Supply: 1,000,000,000 ALEX

  • Circulating Supply: 458,752,149 ALEX

The usage scenarios of ALEX tokens are as follows:

  • Tokens are used for staking to earn more bonus tokens (APower, ALEX) from the platform.

  • Join various functions in the ecosystem, such as providing liquidity, lottery or IDO activities.

  • Have the right to participate in the management of the ALEX project.

The distribution ratio of ALEX tokens is as follows:

  • Community (staking, liquidity tokens): 50%

  • Team, advisors and investors: 30%

  • ALEX Labs Foundation: 20%

The issuance schedule of ALEX tokens is as follows:

The announcement date for ALEX token release is March 2022, with distribution expected to be completed in February 2027.

There are many other airdrop programs for the ALEX token, targeting the community and early adopters of the platform. In addition, ALEX is still in the community

Organize other IDO activities, details are as follows:

  • On January 19, 2022, ALEX completed the IDO round through the issuance platform function on its own platform, with a total of 5,281 participants.

  • The next distribution of ALEX will take place on the MEXC Launchpad from April 16 to April 17, 2023, with the total supply of this offering exceeding 1 million tokens. The conditions for participation are: users need to hold at least 1,000 MX (tokens of the MEXC exchange) for 15 consecutive days before April 15, 2022.

Assuming that IDOs on the ALEX Launchpad sell for an average of $0.8, the total amount raised is 50,400 STX, which is approximately $40,320.

Where to buy ALEX tokens

Users can purchase ALEX tokens through the following methods:

  • Centralized exchanges (CEX) such as Horbit

  • Decentralized Exchange (DEX): ALEX

  • Highly Respected ALEX Token Storage Wallet

  • Users on ALEX can use and store tokens on the Hiro wallet, which is also the wallet for all development projects on Stacks.

Roadmap and updates

ALEX did not mention a specific development roadmap for the project. However, for the ALEX Orderbook product, the platform has announced the following plans:

Second quarter of 2022

  • Deploy testnet to connect wallet and registration.

  • Testnet deposits and withdrawals of tokens.

  • Spot trading limit order function.

Third quarter of 2022

  • Implement the testnet feature spot trading market price.

  • Implement the testnet feature spot trading limit price.

  • Implement testnet price history and order placing functions.

Fourth quarter of 2022

  • A testnet that implements perpetual trading.

  • Start mainnet spot trading.

project team

  • Co-Founders: Chiente Hsu, Rachel (COO)

  • Core Team: Josh (SEO)

Investors and partners

Investors and funding rounds

On November 15, 2021, ALEX raised $5.8 million in a funding round led by White Star Capital, with participation from many other investment funds, such as Gemini, GRS Ventures, HiveMind, Tribe Capital, and others.

Most recently, on March 15, 2023, the project successfully raised $2.5 million in strategic financing, with support from Trust Machines, Gossamer Capital and other investors.

Partner

updating...

Similar projects

ALEX is a DeFi Suite project with several different products

  • Automated market makers: Stackswap, Curve, etc.

  • Startup platform: Polkastarter, DAO Maker, etc.

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