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Newsletter: ALEX Evolves — The Finance Layer on Bitcoin
October 6, 2023

Hey Alexians,

We are planting the seeds of a thriving financial ecosystem by providing builders with composable blocks of code, tools, unified liquidity, grants, and mentorship

ALEX’s Bold Ambition: Re-inventing Bitcoin’s Role in DeFi

Our pivot towards a finance layer on Bitcoin has been a gradual process that began in May with the B20 Orderbook, which combined L1 assets with L2 programmability. The ALEX L1 Launchpad was the first to enable emerging projects to raise funds through L1 assets such as Ordinal NFTs and BRC20 tokens. Most recently, our work in developing Bitcoin financial infrastructure through an on-chain indexer made it clear we were already effectively a layer 1.5, straddling Bitcoin and L2s.

Given Bitcoin’s $500B market cap, of which less than 0.01% is locked in DeFi (vs. 27% in DeFi on Ethereum), the opportunity is vast. Effective infrastructure is the key to onboarding the innovative minds that can build upon the fundamentals we’ve pioneered. The implications are profound for Bitcoin, DeFi, builders, and ALEX, which we explore in detail here.

Bitcoin On-chain Indexer Coming Soon!

Following the announcement of the on-chain oracle “indexer of indexers” last week, questions naturally arose about how this oracle will be governed. This week, we published our vision for decentralized governance with an approach aimed at increasing security and transparency, reducing central control, and fostering community participation.

The on-chain indexer will be online soon as we coordinate with our partners Domo (BRC20 creator and ALEX advisor) and existing off-chain indexers such as BestinSlot, OKX, Hiro systems, Unisat, and others to launch this decentralized indexer. More announcements are on the way!

ALEX Events and Media Appearances

Coming up, Chiente will speak at Bitcoin Unleashed in London on October 19–20 at Protein Studios. Bitcoin Unleashed London will gather the best and brightest entrepreneurs, Bitcoin core developers, Layer 2 technologists, builders, and investors for engaging conversations, instructive workshops, and high-value networking. Expect to see ALEX at even more global events!

This week, ALEX Lab Foundations’ own Hadan Esperidiao joined Jake Gallen on his podcast to discuss Bitcoin DeFi and ALEX’s future. Listen in to learn more about Bitcoin’s Financial Layer, the ALEX Foundation, the Emerging Bitcoin Ecosystem, and the BRC20 Oracle.

What’s Cooking On ALEX Layer

Responses to our Build On ALEX application form have been coming in! It’s still early, but here’s a sneak peek at what’s cooking on the finance layer of Bitcoin:

  • A cross-chain bridge between Ethereum, Bitcoin and Stacks and cross-chain swap, all with one click
  • Liquid Stacking
  • Perpetual futures contracts (Orderbook and AMM)
  • Social Wallet
  • Real World Assets

The Nakamoto release, expected in Q1 2024, will be a massive unlock for Bitcoin DeFi and Stacks. Transaction times on ALEX will go from Bitcoin block times (~10 minutes) to ~5 seconds. Read more about it in the Nakamoto whitepaper.

In Closing

The re-branding of ALEX and its transformation into Bitcoin’s finance layer is the beginning of a paradigm shift in DeFi. Bitcoin is evolving from a digital asset into a dynamic financial platform, capable of supporting a wide range of DeFi applications.

This sea change empowers builders and investors, reshaping the future of Bitcoin finance. The stage is set, and the future is bright — the dawn of a new era has come to Bitcoin DeFi.

Best Regards,

The ALEX Lab Foundation

P.S. Don’t forget to check out our new website!
P.P.S. Hey builders! Don’t miss the chance to
build on ALEX.