ALEX Newsletter 2: From “Crypto Winter” to the Bitcoin Economy
July 21, 2022
ALEX’s vision is to transform Bitcoin into a productive asset and build on Bitcoin universally inclusive financial services.
This is our singular focus whether it’s “the summer of DeFi” or “crypto winter.”
Creating a passive yield Bitcoin product, where you commit native Bitcoin to earn native Bitcoin, would be the pinnacle of DeFi. Bitcoin would then be more than a static store of value, it will be a yield producing asset; a gold goose that lays gold eggs.
Everything we’ve achieved to date in rising to #1 project on Stacks, has just been a proof of concept. Where we are going next, with ALEX2 and with the inception of Testnet just weeks away, will realize our true potential in launching the Bitcoin economy.
In the three months since our last newsletter, we’ve shipped many functions that incrementally further our mission:
AutoALEX: The AutoALEX (atALEX) token provides auto-harvesting/staking that allows users to earn compound interest effortlessly. With atALEX funds aren’t “locked” into staking and can be withdrawn at any time. Furthermore, atALEX maximizes capital efficiency used as collateral for borrowing funds.
Introduction of xUSD: Working with Tokensoft we’ve introduced wrapped USDC, bringing the first hard pegged stablecoin to Stacks. xUSD is for financial inclusion and provides a bridge to the $55B of capital held in USDC.
ALEX2 Roadmap: A roadmap detailing the specifics of how we’ll execute the vision described in this newsletter.
Co-Farming: Co-Farming rewards our most loyal community members that have been staking with us from the very beginning. This allows our dedicated users to receive STX/ALEX yield while committing only STX alone, all while protected from Impermanent Loss through the capital of the STX/ALEX pool.
Introduction of Lend/Borrow: From its inception, ALEX has sought to introduce to Bitcoin finance the fundamentals of fixed-yield and fixed-term financial instruments. Unique from any other DeFi protocol, ALEX employs dynamic Collateral Rebalancing Pools (CRPs) to avoid forced liquidation risks. Beginning with the ALEX/atALEX pair, this innovation is now a reality.
Soon to come will be the testnet for our Orderbook DEX, with fast settlement on the ALEX layer. It will mark the beginning of ALEX2, so please continue to follow our social media channels for the latest news and updates.
We’ll close our second newsletter with a list of notable recent media appearances by ALEXgo CEO and Co-Founder Chiente Hsu, sharing her insights from over two decades of traditional finance with the crypto world: