Alex x Satoshi Club AMA Recap from the 12th of January

Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Alex and our guest was . The AMA took place on the 12th of January.

The AMA session was divided into 3 parts with a total crypto reward pool of $500

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1?—?introduction and questions from the Telegram&WebSite

Jonah ???? | Satoshi Club

Hello Satoshiclubbers Welcome to our AMA session with ALEX

Greetings everyone and welcome to our next AMA session with ALEX!

Jonah ???? | Satoshi Club

Our Guests are @ChienteALEX, and @joshavenue

Jonah ???? | Satoshi Club

Hello welcome to satoshi club

Hello guys and welcome to Satoshi Club!

A few minutes of patience. Our guests will be here soon.

hallo everyone. Thank you for having us today.

Great! Welcome!

Hello Satoshi Club, thanks for inviting us!

Jonah ???? | Satoshi Club

You are both welcome

Jonah ???? | Satoshi Club

How is your day going?

Exciting!

Superb! The sun shines brighter too!

Same as we are! Happy to see you here today!

Jonah ???? | Satoshi Club

We are super excited for this AMA

Jonah ???? | Satoshi Club

So let’s start with an introduction can you please introduce yourselves to us how you got into crypto and how the project ALEX started?

My name is Chiente Hsu. I was born in Taiwan and grew up in Austria (Vienna). Thats where i got my ph.D and tenure track professor. I joined Wall street a while ago. Became a quant and built Quant business at Credit Suisse adn Morgan Stanley. I started this project ALEX in 2021, together with my wonderful cofounder Rachel. We wanted to build a DeFi thats secure, transparent and serve for the banked and unbanked.

Thank you.

And, I am Josh, the community lead for ALEX! You will be seeing me a lot if you hang out around our community

Great financial background!

Thank you!

Jonah ???? | Satoshi Club

An Impressive background

Jonah ???? | Satoshi Club

Can you tell us a little about ALEX, what is it all about?

Sure. ALEX stands for Automated Liquidity Exchange.We see that most DeFI are currently built on Ethereum and other chains. But not on BitCoin.

So beginning of 2021, we came across Stacks, who rolled out Stacks2.0, which is smart contracts on Bitcoin.

Given rachel and my background, we thought this is our opportunity to build a Bitcoin Defi via Stacks.Where we can combine the best of DeFi so far built by other great protocols, but also our financial engineeering knowledge.So thats what ALEX is about. We are a complete DeFi on Bitcoin via Stacks.

We have a launchpad, where emerging projects can launch their token on ALEX. An advanced DEX (AMM and order book)

Jonah ???? | Satoshi Club

Impressive to see you tow this path

We also created fixed rate lend/borrowth without liquidation risk

Thank you!!!

We will know more during this AMA!

yed indeed

Jonah ???? | Satoshi Club

How many members do you currently have on your team?

Yes.Currently we have about 15: Financial Quants, Smart contract Developers, UI/UX team.And we have world class advisors too advising us on growth and other areas

Thank you.

Is it all about Taiwan as your headquarter?

Its not.

So ALEXGo is a singapore based company.And our team members are all over the globe!I guess Stacks blockchain is our headquater

It’s good you can access it from anywhere!

Jonah ???? | Satoshi Club

Thank you for the Introduction

thank you!

Jonah ???? | Satoshi Club

We have selected some questions from our community members are you ready for them?

yes we are.

Q1 from Telegram user @sunny_steel

Alex has completed its IDO on January 10th following a several days of openness for all tAlex token holders that could have been exchanged to lottery participation tickets. Please tell us more about the event. Are you planning to organize a second part of IDO in case the requested amount for project development has not been collected yet. Once the IDO is closed, please share the next steps for Alex community to follow. Where and when tAlex token is planned to be listed? Thanks in advance!

Ah the exciting IDO. Its the first of this kind on Stacks!Once the IDO is closed, the next steps for ALEX community will the mainnet launch, which you can do these:

1) ALEX Staking / Liquidity Mining, anyone can stake their ALEX LP tokens to earn extra yield or provide liquidity to share the pool transaction fees and also mining incentives;

2) DEX, one can swap ALEX and other tokens such as STX, xBTC.

3) ALEX Launchpad will bring exciting new projects to launch and IDO. and $ALEX will be essential for all upcoming IDOs. Once the platform goes live, don’t forget to stake your $ALEX

Josh can you post the tokenomics links here pls?

You can read about it more in our tokenomic: https://medium.com/alexgobtc/alexnomics-3a64d0813385

Thank you.

And when the platform is planned to be launched?

Jonah ???? | Satoshi Club

So what is the minimum amount users can stake?

Launchpad is already live on our mainnet.Of course the first token we launch is $ALEX.

For staking, i dont think we have any min amount in mind yet.

https://app.alexlab.co/launchpad

Around Jan 17th!

Just a few days left before the journey starts!

Right after the IDO round completed. We are also going to have a Launch Party !

That’s one the most exciting parts!

Everyone here is INVITED!

Jonah ???? | Satoshi Club

Yeah. thank you for your answers

Jonah ???? | Satoshi Club

ready for the next question?

Let’s go!

yes please.

Q2 from Telegram user @iceVermithraxx

I understand that lending and borrowing on ALEX will not be subject to liquidation risk and this will be made possible with the ALEX collateral Rebalancing Pool. Can you explain more on the collateral Rebalancing pool? Can you elaborate on how the collateral Rebalancing pool will ensure that lending and borrowing on ALEX will not be subjected to liquidation risks? Lastly, can you explain on how the collateral rebalancing pool will work to rebalance between borrowed token and collateral to manage default risks?

this is one of my favorite questions and i apologize upfront for being a bit nerdy!

Lending on all other DeFi platforms works with your collateral being in a single asset pool. If the collateral is Bitcoin, the value of your collateral is directly Bitcoin value, which is very volatile. If Bitcoin drops and your Loan-To-Value falls below the protocol minimum, you are liquidated, your position sold, and you are charged high fees .

What we’ve created is a collateral pool with two assets, risky and riskless, governed by a rebalancing equation that actively responds to the market by continuously shifting the weight of the pool between the risky and riskless assets.

Jonah ???? | Satoshi Club

No Problem

With the risky asset, say Bitcoin is going up, the pool will shift towards risky to capture that upside gain. When the market is going down, the pool will shift towards riskless to minimize losses. And when the market falls and the pool value goes below a pre-set threshold, it triggers a “risk off” condition where the balance of the pool is entirely moved into riskless.

This is like having a seatbelt and airbags for your collateral, in an emergency it will protect the value of your collateral so you don’t run the risk of liquidation.

Here is the visual how the pool works

This is how the CRP at work would look like visually: https://twitter.com/alexgoBtc/status/1450603498781954050

So the left side is BTC price

And the right side is the weighting of riskless (blue) and risky (orange, here is BTCUSD)

What makes the riskless portfolio?

Stable coins for example

So any “numerare” or “base crypto” one chooses

Jonah ???? | Satoshi Club

I so like how you thought all this out

This methodology is widely adopted in portoflio management, FX management etc.

So the customers will at least get a value of riskless assets as borrowed value

If you want to dive super duper deep in the CRP, you can read the whitepaper here: https://medium.com/alexgobtc/whitepaper-2-automated-market-making-of-the-collateral-rebalancing-pool-937f1068fe0

It cannot go down, but it can go up

yes indeed. i was the runner up for this model for european pension (but to be clear, i didnt come up with the idea!, i merely implemented it in FX!)

Jonah ???? | Satoshi Club

Thank you for sharing this..

That is a great attitude!

Jonah ???? | Satoshi Club

Oh I see…thanks for clarifying

Jonah ???? | Satoshi Club

Thank you for your detailed answers

Jonah ???? | Satoshi Club

Ready for the next question?

Q3 from Telegram user @NataliyaKil

While looking for information about ALEX, I found Faucet, where you can get an ALEX token by connecting to it using Hiro Wallet. Does such a Faucet really exist, since I did not find information about it on your site? If this topic is real and relevant, please tell us more about it. On what conditions can we get ALEX and why is Hiro Wallet offered for connection?

Sure. During the testnet phase, users are required to withdraw testnet tokens via the faucet.

The tokens from the faucet were tALEX (testnet token), not $ALEX.The tALEX was used for testing the staking feature during the second half phase of the testnet. For those who were staking hard and participated all the phases of the testnet,they can use their earned tALEX to exchange for IDO tickets for our current IDO round here:

https://app.alexlab.co/launchpad

Hiro wallet is the official wallet for Stacks.But don’t be discouraged if you are late for IDO tickets, you can aquire $ALEX when our DEX goes live on Jan 17th.

Jonah ???? | Satoshi Club

At what ratio will the Exchange be done, How many tAlex tokens will get users a Ticket?

Absolutely! That’s a great hint for our community?—?you can still be among the first to get $Alex!

The tALEX exchange phase has already come to an end during Jan 10th.

It was 5 tALEX for a IDO lottery ticket

Jonah ???? | Satoshi Club

Thank you guys! Let’s proceed to the question nr. 4!

Q4 From Telegram User @victorogb

From recent blog posts/publications, I stumbled upon the ALEXnomics guide on token distribution and projected utilities. From the information shared, there was repeated mention of the ALEX Foundation, which is said to be non profit, and expected to progressively transition to a DAO overtime. Been that these functions as mentioned will be implemented relative to the current stage of the project, can you briefly elaborate further, what are the core responsibilities of the Foundation, and who are the principal actors & members of the ALEX Foundation? Also, since the foundation will later transition to a DAO, can you briefly shed some light on the projected structure of the DAO? Finally, since this sector of the Alex project will receive an allocation of 200 Million tokens, can you let us know how this will be effectively utilised?

Thank you for reading our Tokenomics! Yes, the way Stacks is set up is really our role model. So, the core responsibilities of ALEX Lab Foundation (which is an independent entity from ALEXGo the technology company) are.

Governance

The ALEX Lab Foundation is the home for governance of ALEX (protocol) open-source technology, serving as neutral ground for various parties to come together and reach consensus on the path forward. The long term responsibility is to allow $ALEX token holders to govern ALEX, meaning the community is able to create improvement proposals, decide which should be voted on, and finally hold a formal governance vote.

The goal of the ALEX Lab Foundation is to become a fully fledged DAO, which we will achieve through a process of progressive decentralization. The first step will be the creation of the ALEX Genesis DAO, which will act as an intermediary step between early-stage centralized and future decentralized community governance.

The Genesis DAO proposal flow, described in our Tokenomics is as follows: any $ALEX holder will be able to make a proposal to the community. There will then be a “community review” period, where proposals are refined, discussed and improved.There is a referendum vote, where suggested proposals need a minimum threshold of support in order to move forward towards a governance vote. This is where the Genesis team acts as an intermediary, in examining these proposals, communicating with the developers and creating an implementation plan of how the proposal can be enacted.

Finally, how will the Foundation tokens be used? Generally speaking towards…

Eco system support

We create new avenues for innovation through ecosystem development, and developer incentives. Research and education

We support independent researchers, contributors, and collaborators to help build a better user owned DeFi through research and development.Sorry for the long answer. Thank you.

Jonah ???? | Satoshi Club

Take your time..

I know I posted the tokenomic several times already, but if you are curious, some of the details are also available there!

One more Link! https://medium.com/alexgobtc/alexnomics-3a64d0813385

Jonah ???? | Satoshi Club

Btw how many members are in the genesis team?

we are in the process to set it up. most likely, in the inital phase, there will be around 10 in terms of emergency voting,and proposing. Then we expand from there.

Jonah ???? | Satoshi Club

Good luck with this! It is indeed a great initiative!

Jonah ???? | Satoshi Club

Thank you for your superb answers

Thank you!

Jonah ???? | Satoshi Club

Ready for the next question?

yes please.

Q5 from Telegram User @Rozielyna

I understand that ALEX AMM is built on three beliefs: (i) it is mathematically neat and reflects economic demand and supply; (ii) it is a type of mean, like other AMMs; and (iii) it is derived and can be interpreted in terms of yield and can be connected to conventional finance, where research has been conducted for decades. Can You please give the key features of the AMM?

Also the properties on the AMM on your website is a bit complex, is there an easier way to understand this properties? I will appreciate it if you can briefly explain these properties better, what make ALEX AMM standout from other AMM?

I see this from a math expert!

I believe you’re referencing our first Whitepaper

For the benefit of others, here is teh paper.

https://medium.com/alexgobtc/whitepaper-1-automated-market-making-of-the-yield-token-pool-b7739fcee038

Our AMM is a constant product AMM, of the form x*y=L (a constant) which is widely used in DeFi. BTW GREAT innovation from Uniswap!Our Value-Add is to generalize the framework from the mathematical modeling and expand it to lend/borrow. We are introducing fixed-rate and fixed-term lending and borrowing without liquidation risk on DeFi.

The lending/borrowing currently on DeFi is variable so the yield you are receiving today is not the same as the yield tomorrow or the week after, which introduces a lot of uncertainty.

Jonah ???? | Satoshi Club

Yeah a great innovation that have paved way for growth in Defi

And again, we stand on the shoulders of the giants!

Jonah ???? | Satoshi Club

So this uncertainties are eliminated using this model

That’s a base for future success!

Thank you!

Jonah ???? | Satoshi Club

Great Answers Btw

Thanks!!!

Jonah ???? | Satoshi Club

We will like to proceed if you are ready?

yes please

Q6 From Telegram User @UniqueVicky

Alex said to incentivize it’s early liquidity providers with the long term interest of the platform with two mechanism “cap” and “gate”mechanism..Never heard of these mechanism, can you expand on them? What are these mechanisms and how are they use to incentivize your early liquidity providers? I also learnt that participants of platforms activities are also incentivized too, who are or who can be your participants of platform activities and how are these ones incentivize too?

Ah, this is something we learned from the Traditional Finance, called liquidity management.

So, we are trying to optimize two things: one, progressive decentralization, i.e. we dont want just a few Whale wallets come and go.

Two, the protocol needs liquidity to get going.So this is what we are implementing:

We introduce a “cap” on the amount a single liquidity provider can contribute as well as “gates” that will manage an orderly exit of capital, with a view to ensuring that no single LP can be more than a certain percentage of total liquidity and a long-term liquidity commitment is rewarded. These mechanisms also provide incentives such as fee discounts for them to stay longer.

This serves to align the interest of our Liquidity Providers with the interests of the ALEX community and protocol, which best ensures the long term growth of ALEX.I hope you like it. There are things we learn from Trad Fi thats are not bad…

If you are looking to read more about it, head to the ‘Progressive Liquidity Decentralization’ section in the Tokenomic, you will find more there about Cap and Gate

Jonah ???? | Satoshi Club

I’m sure they will

How about the security? Have you passed any audits already?

Excellent question

Yes, CoinFabrik finished their audit. Josh can post the link of their finding here.Least Authority started its audit too and should conclude very soon

In addition, we are running a Bug Bounty program with ImmuneFi. with prize up to 100K USD

So any hacker here, pls come to help us!

For CoinFabrik audit, you can read the full details here: https://blog.coinfabrik.com/smart-contracts/alexgo-audit/

For LeastAuthority, you can read more about their audit firm here: https://leastauthority.com/

Of course, if you are a Bug Bounty Hunter, you can discover your next bounty here: https://immunefi.com/bounty/alex

Wow! That’s a call for Satoshi Club hackers!

Last but not least, there is a very interesting group called Syvita in Stacks. they are one of the best builders within the eco system.The team is currently “trying to break ALEX”.Now, may i be frank. DeFi is not riskless

Jonah ???? | Satoshi Club

Absolutely True

Don’t keep yourself!

As much as we spend resource/time to ensure that we are doing our best to minimize the risk.But we cannot guarantee that it is 100% riskless.

DeFi is still in its infancy.A lot can be improved from here.But ALEX is doing its best, not skimming in audit etc.

And as users, it’s also important to educate yourself of all the risks by DYOR (Do Your Own Research)

I am sure a lot of people here knows this DYOR rules

Crypto in general is not riskless and this AMA is to ensure we get the project from all the perspectives and yourself too?—?to make sure every detail is foreseen for successful run

100% agree.

Appreciate your answers during our first part of AMA!

great questions!

Now, we are ready to proceed to the second part and let our community ask their questions LIVE!

Jonah ???? | Satoshi Club

Thank you for your well detailed answers

We will open a chat for 120 seconds for a storm of questions to come. Oncу we close it back, please select 10 of them to answer

But before we do that, please share your useful links

Tokenomic: https://medium.com/alexgobtc/alexnomics-3a64d0813385

CRP visual: https://twitter.com/alexgoBtc/status/1450603498781954050

https://alexgo.io

CoinFabrik audit: https://blog.coinfabrik.com/smart-contracts/alexgo-audit/

LeastAuthority: https://leastauthority.com/

Bug Bounty program: https://immunefi.com/bounty/alex

We are ready for the questions

Jonah ???? | Satoshi Club

Great Opening chat now

Q1 from Telegram user @Tony253210

The idea of Alex is amazing due the combination of typical services of the Blockchain + BTC, but I think that your ecosystem looks so technical ( even your Whitepaper), so do you offer any guide or tutorials about how can we use your ecosystem?

Stacks is a very young eco system. Therefore its not that widely known. And also, they are more on the quiet side.The smart contracts are based on the languange called Clarity. I am posting some links here:

https://www.stacks.co

https://clarity-lang.org/

There is also a Clarity university. they are on discord. So these are first two places i would start.

Q2 from Telegram user @Antoni_azx

ALEX has a lot of useful and safe features but little is said about its role as LAUNCHPAD, on your website this function seems to be undergoing maintenance, so it would be interesting to know more details, what are the advantages and when will it be available?

ALEX Launchpad is already on mainnet. Here it is: https://app.alexlab.co/launchpad. And we have a few medium articles about it.

Q3 from Telegram user @Mikeymms

While Reading through your website, I noted that there are five actors on ALEX which includes Projects, Liquidity providers, Lenders, Borrowers and Arbitrageur. Can you explain on each of these actors in ALEX? What are the benefits and incentives which liquidity providers, lenders and borrowers receive from ALEX platform? Can you explain more on Arbitrageur? What are the roles and duties of Arbitrageur in ALEX? in line with this, I found out that Arbitrageur works to ensure smooth running of pools on platforms, Can you explain on how they work to ensure smooth functioning of pools at ALEX alongside Liquidity providers?

Liquidity providers will be participating in the fees ALEX generates.

Q4 from Telegram user @captainprice111

What growth roadmap does ALEX have with Stacks, what unique aspects of Stacks will you benefit from? What role will ALEX play to humans between traditional finance and DeFi?

We chose to build on Stacks becasue of it is the “programmable layer” of Bitcoin.Bitcoin is still the ultimate store of value. So ALEX aims to unleash this ~1Tn value. currently, most of it is sleeping in walllets.We want Bitcoin holders to come to ALEX, to lend, to borrow, to trade, to hedge their downside, to participate in new projects via IDO etc etc.

Q5 from Telegram user @mohammdiqbal

Staking program is very important for any project, Can i stake your alex token? Do you have any plan of starting staking program?

Yes, as $ALEX holder, you can participate in both Single Staking or LP staking.Single staking allows you to earn more $ALEX, if you are looking to participate in more future’s IDO, you might want to keep staking your $ALEX.For LP staking, you can also earn more $ALEX reward by providing liquidity to the ALEX DEX

Q6 from Telegram user @adaatalay

Can you talk a little more about the Collateral Rebalancing pool, which ensures that as an asset owner we are not exposed to liquidation risk for the lender or the buyer? How is it working? Will the liquidation risk belong to Alex Platform?

Yes. ultimately, if there is a default (i.e. borrowers walk away with the loan she/he took out), ALEX will take the default risk.

Q7 from Telegram user

Right now there exists so many launchpads that offer amazing services to new and little projects, so can you tell us what are the most important features that Alex have as incubator ? Why projects should chose you?

The team will ‘vet” the projects,present the projects to the community,and the community will vote.So it is a DAO.

Q8 from Telegram user @munishgmr

It looks like a Person name to me,Why did You name the Project “ALEX”?

1. ALEX stands for Automated Liquidity Exchange
2. It’s way easier to remember a person’s name!

Q9 from Telegram user krish_crypto22

How do You aim to provide ” FIXED” rate lending and Borrowing services?

From other pools, we will build “discount curve” to price the fix rate/fix term products

Q10 from Telegram user @Kabirkapoor9

Will ALEX approach other DEFI projects for diversification like in Metaverse? Please share the roadmap for this year?

The metaverse, everyone has been talking about it.

 As you may know, the ALEX launchpad is always open to support great projects!If you are looking to build a Metaverse with the Stacks ecosystem, ALEX will always be interested to learn more about it. And if you are going to have a token, you know where is the Launchpad is.

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.

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Medium –https://medium.com/alexgobtc/alexnomics-3a64d0813385

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