On April 18th the ALEX Bridge Mainnet went live. The STX/sUSDT pool was opened and ETH USDT <> sUSDT has established the first ever link between Ethereum and Stacks layer.
We’ve only just begun. In the month of May we’re already looking towards extending the ALEX Bridge to BNBChain next with more blockchains to follow.
The new liquidity pools created by sUSDT require that the ALEX community vote on adjusting protocol emissions.
With the launch of ALEX Bridge and introduction of sUSDT, it has become necessary that we revise our farming emissions schedule to incentivize Liquidity Providers for the STX/sUSDT and xUSD/sUSDT liquidity pools.
The proposal was introduced and discussed by our community on Discourse. In the final revised proposal, the net effort on Y2 emissions will be an increase from 55.3M to 59.5M ALEX.
The revised proposal balances minimizing emissions while maintaining the necessary incentives for Liquidity Providers needed to grow the new sUSDT liquidity pools.
Voting began on April 29th and will continue for one week.
As Ballot.gg does not support a voting strategy that involves two tokens (ALEX and atALEX) with different weighting (because 1 atALEX ~= 1.55 ALEX) two ballots will be created
Ballot.gg doesn’t support a strategy with two tokens (ALEX and atALEX) with different weighting, so there are two ballots. If you have both tokens, vote with both:
The ALEX Lab Foundation holds ALEX and AutoALEX positions in providing protocol liquidity and will vote in favor of the proposal.
We’ve made significant progress on the BNBChain Bridge, with an expected launch in May. This will enable easy transfers of assets between Binance Smart Chain and Stacks.
Expanding Bitcoin DeFi’s reach relies on cross-chain operability, which helps grow our user community and liquidity. Stay tuned for more launch info!
Dr Chiente Hsu in discussion with Prof. of Finance, Campbell Harvey at Duke University.
Chiente’s speaking at the 2023 IDEAS Boston Web 3.0 Summit on May 6th. She’ll discuss DeFi vs. TradFi, DeFi risks & benefits, and DeFi applications in various industries.
Plus, Chiente recently attended the Duke Web3 Conference and talked about DeFi security, MEV, and more with Professor Campbell Harvey from Fuqua Business School.
On April 19th Chiente was a speaker on two panels at the Stacks “Building on Bitcoin” online event. The video was recorded and is posted below, with the two panels Chiente spoke on time stamped below:
Hadan Esperidiao, ALEX Lab Foundation Community Lead, was the guest of the Cryptoconomy podcast to chat about Bitcoin DeFi.
Bitcoin DeFi infrastructure continues to rapidly expand and none of it would be possible without the support and governance of our community. Together we are building the roads that lead to Bitcoin.
The ALEX Lab Foundation