Greetings to everyone & welcome to the 113th Weekly Digest on Algebra. The main updates of the week are:
- The Fees’ Impact on AMMs & LPs Revenue Study
- Tokenomics Redesign Announced
- The BNB Hackathon’s Workshop: Algebra x THENA x Gamma
- 13k Tx Count on Algebra Integral with Bera Chain Testnet
- Swapr Beta Powered by Algebra Has Launched on Gnosis!
- THENA & Algebra AMM Have Launched on opBNB
- $ALGB BBQ Campaign: 360K Buyback & Burn
And more — find out below.
1. Tokenomics Redesign Announced
Dear Algebros,
We’ve prepared the details of yesterday’s announcement about the upcoming Tokenomics redesign.
WHY?
The Algebra ecosystem is growing day by day, with over 60 partners & counting.
However, the previous tokenomics was designed for a decentralized exchange, a concept now in the past. Furthermore, in 2024, Algebra is set to become a multi-chain ecosystem.
The plan involves the Integral expansion with more DEXes, the launch of a Plugin Marketplace for DeFi builders & then an Algebra Liquidity Layer, representing a significant milestone for us.
All of these changes and developments should naturally be reflected in our tokenomics.
WHEN?
The Tokenomics redesign will span several months. During this period, $ALGB will continue its operation.
WHAT’S UP WITH $ALGB?
No changes until the new tokenomics release. The value of ALGB will transition to the new tokenomics.
Our holders can also expect the following:
1) Buybacks & Burns will continue
2) We will increase our burns rate using the treasury tokens on a weekly basis.
3) ALGB is planned to be wrapped on the chains of our partnering DEXes.
4) We plan to introduce farming opportunities with one of our partners.
We will keep you with the new tokenomics development. We take the creation process of tokenomics extremely seriously & plan to bring in experts in the field to develop the right tokenomics, reflecting all the successes of our product.
FAQ for an even clearer idea:
1. Why can’t $ALGB serve as the foundation for new tokenomics?
We want our products (current and future) to be natively connected with the platform token & reflected in token functionalities.
2. What will happen to the treasury fund and liquidity mining tokens?
We don’t see any use at the moment, we’ll start burning them soon.
3. How long will it take before we witness specific actions with tokenomics?
A few months.
4. Will $ALGB holders be rewarded upon the release of the new tokenomics?
The value of ALGB will transition to the new tokenomics. We are considering the following possibilities: airdrop, conversion, or others, upon the possible introduction of the new token, as we explore opportunities to reward our holders.
5. Will $ALGB still accumulate fees from the V3 DEXes?
Yes, including all new V3 collaborations. BBQ will continue, as well as planned new farming on another network.
2. The Fees’ Impact on AMMs & LPs Revenue Study
We carried out a large-scale study about fees’ impact on AMMs’ and LPs’ revenue! Explore Algebra’s latest research, analyzing market conditions, blockchain features, and fee structures. Discover different fee management approaches, including dynamic fees, elastic fees, fixed fees, and more, shaping the future of AMM development. Must-read for DEXes & DeFi Protocols: https://algebra.finance/static/the-impact-of-market-conditions-and-fee-algorithms-on-the-design-of-a-competitive-amm.pdf
3. The BNB Hackathon’s Workshop: Algebra x THENA x Gamma
We joined the BNB Hackathon Workshop, and our session on Algebra Integral Plugins was a blast! We delved into the tech implementation and its impact on THENA’s development.
Check out the recap and catch the exciting discussion with THENA and Gamma Strategies. Plus, there’s still a chance to share the $20K prize pool, co-sponsored by us, for groundbreaking ideas and see your Plugin deployed on THENA’s future V4 infrastructure, powered by Integral!
Watch the recording here: https://www.binance.com/en/live/video?roomId=2177291.
4. THENA & Algebra AMM Have Launched on opBNB
The Algebra-powered V3 CLAMM is now on opBNB via THENA! Includes Concentrated Liquidity, Dynamic Fees from Algebra DEX Engine, paired with the most efficient ALM strategies from Gamma, ICHI, & DefiEdge. True DeFi perfection! More details: https://medium.com/@crypto_algebra/algebra-x-thena-bringing-the-dex-innovation-to-opbnb-f819f5320222.
5. 13k Tx Count on Algebra Integral with Bera Chain Testnet
Launching on Bera Chain’s Artio Testnet, our Integral swap router processed 13,074 transactions! Excited for the alpha launch.
So, if you run a DEX and would love to deploy there with our Modular-based AMM, contact us via http://algebra.finance/form/
Test our V4 DEX engine at http://berachain.algebra.finance/pools
6. Swapr Beta Powered by Algebra Has Launched on Gnosis!
Thrilled to be partnering with our first DEX on Gnosis, now available with their Beta version!
You now have a chance to test out our classic V3 tech: add liquidity to Swapr, choose a custom price range & claim epic rewards with Merkl, Algebra & Swapr at https://v3.swapr.eth.limo/#/info/pools.
7. The Algebra Tasks Are Live on THENA’s Zealy
Our joint Social Zealy tasks with THENA are now live! Complete them easily to gain access to a special quiz and earn points.
Find it in the ‘partnerships’ section at https://zealy.io/cw/thenafi/questboard.
8. $ALGB BBQ Campaign: 360K Buyback & Burn
Our weekly buyback & burn is underway! Let’s see more details:
👛 Buyback & Burn: 360,382 $ALGB
https://polygonscan.com/tx/0xd5bf206e2142fb451d678c068953abfb9759f5cf6e4bc9ed8b4aa1226a7393e1
https://polygonscan.com/tx/0xa482bf9291ba8634801d9f19c883d25f2674f91eb17ded24c70f5fcc86c75b24
9. Algebra Attended the Blocmates Podcast
Our co-founder, Vladimir Tikhomirov, had the pleasure of joining the Blocmates podcast to discuss the current DEX landscape, Algebra Integral’s main propositions, and the future of the Algebra DEX engine. Stay tuned for it!
10. $ALGB Migration’s Coming Soon
$ALGB is to be wrapped to another chain in the upcoming weeks. Stay tuned for wrapped ALGB tokens!
About Algebra
Algebra is a Protocol enabling projects to integrate Concentrated Liquidity tech, alongside other groundbreaking features — Dynamic Fees, Built-in Farming, and more. Already seamlessly integrated into various DEXes across different chains, including Camelot, THENA, QuickSwap, StellaSwap, Zyberswap, Lynex, Magma, Swapsicle, Synthswap, Hercules, Swapr, and more, Algebra propels them to higher trading volume & enhanced capital efficiency. Learn more on our website: algebra.finance.
$ALGB is the platform token of the Algebra Protocol, used for governance. Weekly buybacks & burns are aimed to reduce the circulating supply & increase the ALGB value. ALGB on CoinMarketCap.
