Greetings to the Algebra community. As a DEX engine, we’ve partnered with over 25 DEXes, including key partnerships with QuickSwap, Camelot, THENA, Lynex & more decentralized exchanges across DeFi.
Since our launch as a DEX engine and AMM model for DEXes in 2022, we’ve achieved over $230 million in total value locked, hit an ATH trading volume of $572 million with $55 billion in cumulative volume, and achieved 8% of all EVM volume being processed via Algebra’s technology. These accomplishments, among the other ones, have secured our position in DeFi, opening a new market with Integral.
Currently, there is no Integral tokenomics, meaning no grants for plugin builders, airdrops for loyal holders, or a budget for future developments. It’s time to evolve.
What are we planning to create?
- A Unified Algebra platform — a unified platform for DEXes across all networks, featuring modular technology and concentrated liquidity technology. It includes a Plugins Marketplace and over 50 partners already working with our tech.
- Algebra Liquidity Layer — uniting DEXes through shared liquidity.
- Our own blockchain, unifying liquidity from different chains to ensure the best exchange rates by defragmenting liquidity.
Our token must encompass all future products and enable their realization.
Until we have a full understanding of how these products will be implemented, it’s difficult to formulate tokenomics. Therefore, we need to first build the architecture, approve it, and develop a growth strategy.
For example, for the blockchain, we need to consider continuous emission for nodes and linking the token to gas payments. Our current token and tokenomics are not suitable for this, nor are they designed for a B2B project in general.
Our plans can possibly include the following:
- Listings on large decentralized exchanges
- Support for incentivized liquidity pools
- Grants and hackathons
- Future airdrops
- Major decentralized exchange integrations
Regarding the last point, we would love to deploy on Ethereum Mainnet. However, to achieve this, we need to collaborate with well-known players in the DEX sphere. Launching on ETH should be a major event for Algebra, and we must choose the right DEX partner carefully.
The same goes to different non-EVM chains & any other new directions in the Algebra development: launching on Solana or other chains, we must:
- Rewrite the Algebra code properly
- Choose the right partners to collaborate with
- Coordinate marketing & budget
How will things proceed until the unified tokenomics are presented?
We will continue to reduce ALGB’s emissions using a share of the fees obtained from DEXes integrating our CL AMM. The team does not use tokens from Treasury/Team fund for operational and marketing needs. This opens an opportunity for holders to control token performance.
For now, we’re having some nice farming & LP opportunities with ALGB on THENA, and a Liquidity Pool Camelot, distributing additional rewards on a weekly basis. We’re going to launch some additional trading programs for ALGB holders in the future with our partnering DEXes.
To date, the team has burned over $500K worth of tokens. You can track the circulating supply reduction at dune.com/qcrsh/algebra-token. Lots of brand-new DEX integrations are awaiting.
Thank you all for your support and patience. None of the information above is financial advice. Stay up-to-date with the latest Algebra news on our socials.
