From ALEX DeFi

Crypto history has been written with the election of the most pro-crypto candidate in U.S. history. ALEX has been busy actively preparing for the anticipated bull market and expanding the finance layer of Bitcoin:

Amplifying the excitement in our ecosystem, the Stacks Nakamoto release went live on October 29. Optimization efforts are now underway to unleash the full potential of Nakamoto, but already Stacks blocks are averaging 5–10 seconds, offer enhanced Bitcoin security and 100% Bitcoin finality. The infrastructure is in place to redefine ease of use and scalability in Bitcoin DeFi, and ALEX is positioned as its financial hub.

ALEX and XLink Partner with NEAR

Big news in Bitcoin DeFi! ALEX and XLink are teaming up with NEAR protocol to launch Bitcoin Oracle V2, bringing a faster, safer, and more user-friendly experience to Bitcoin users. By leveraging NEAR Protocol’s Chain Signatures technology, we’re enhancing blockchain interoperability, allowing smart contracts to execute transactions across multiple blockchains.

This integration boosts the Bitcoin Oracle — a cross-chain messaging layer — ensuring secure off-chain computations and unlocking new DeFi possibilities for Bitcoin. XLink improves transaction speed and throughput, enabling interactions with Layer-2 smart contracts using just a Bitcoin wallet and BTC.

With ALEX’s advancements, Bitcoin users gain access to a DeFi trading platform with unified liquidity and advanced tools. Read more on the Bitcoinist.

Surge Campaign Approved

The ALEX Surge campaign is a round-based rewards program that incentivizes Stacks projects with liquidity on ALEX to expand their social reach and also add more liquidity from both within and beyond the Stacks ecosystem. During each monthly round, around 1 million $ALEX will be allocated to the pools that have registered for the Surge campaign proportional to the Surge voting results.

There will be 12 Surge rounds, making it a year long campaign designed to capitalize on the increased attention Stacks will received following Nakamoto and soon sBTC. To learn more about Surge and how to participate, please see our Medium.

LISA Unveils LiaBTC

LISA has unveiled LiaBTC, unlocking liquid staking yield on Bitcoin. Powered by XLink and secured by COBO on Babylon, LiaBTC offers effortless rewards while keeping your BTC liquid. Bitcoin staking has never been this elegant or rewarding. Curious for more details about how it works? See our post and animated video.

Milestone: Over $2.3B in TTV

Big milestones for ALEX this past month! We’ve now surpassed $2.3B TTV and our TVL exceeds $155M. The momentum keeps building as we push forward with the speed of Nakamoto fast transactions behind us. Check our latest metrics on our analytics page.

Initial LP Smart Contract Locked & LP Burnt Live

In response to community feedback, we’ve rolled out Initial LP Smart Contract Lock & Initial LP Burn to boost liquidity security and prevent community token rug pulls. These new features are designed to ensure a safer DeFi environment for all. More details are available on Medium.

Rachel Speaks at Hong Kong Fintech Week 2024

ALEX co-founder and COO Rachel Yu spoke on the “Unlock the DeFi Potential” panel at Hong Kong Fintech Week 2024. ALEX continues to be a thought leader on Bitcoin finance across the globe and we continue driving DeFi innovation on the global stage.

In Closing

October was a game-changer for ALEX and its community. The NEAR partnership, Nakamoto upgrade and Surge campaign will bring faster transactions, enhanced security and new opportunities to the Bitcoin DeFi ecosystem. We will continue to iterate, build and scale in order to realize our vision of universally accessible financial services. The future of Bitcoin DeFi has never been brighter!

Best Regards,

The ALEX Lab Foundation