Hey Algebros! Let’s dive into the first Weekly Digest of this spring, with much exciting news, including:
- New DEX on Algebra: YAKA on Sei Network
- Algebra’s brand-new website is live!
- Doubled incentives for $ALGB / $BNB pool on THENA
- Weekly $ALGB burn surpasses 1M tokens
- Algebra founder interviewed by Blocmates
And much more — find out below.
YAKA to be powered by Integral on SEI
Sei is the fastest Layer 1 blockchain. Sei’s unique chain-level optimizations enable decentralized exchanges and trading apps in NFTs, gaming, social and DeFi to offer the best user experience.
They recently supported our Yaka’s deployment announcement, check it out.
Algebra’s brand-new website’s live!
We’ve revamped our online presence with a sleek design, tailored to highlight our B2B offerings, partnerships & great stats. Whether you’re a developer, project manager, or crypto enthusiast, check it out at algebra.finance!
We’re planning to add some more changes to it, though. So, stay tuned for a fully transformed Algebra website!
Provide liquidity to $ALGB / $BNB pool & get doubled incentives
How does it work? 👀
1️⃣ Provide liquidity to the $ALGB / $BNB pool & get your LP token;
2️⃣ Stake your LP token to get $THE tokens as LP rewards;
3️⃣ Lock your THE tokens to get $veTHE instead;
4️⃣ Vote with veTHE for the ALGB/BNB pool & get your bribes from it with THENA’s ve(3,3) mechanics!
LP rewards are distributed weekly by THENA, with $1k allocated to LPs each week. Additionally, users receive $1k in Bribes rewards from our side, effectively doubling their earnings with THENA.
Weekly $ALGB burn surpasses 1M tokens
This time around, we’ve repurchased a total of 602,581 $ALGB tokens:
https://polygonscan.com/tx/0x0e07bef8708ae661db4e8c3bc07fecb2fb8d1d9b5b434ee4da9d3b1079818bf5
Combine that with a portion of tokens from our treasury fund, and you’ll see that we’ve burned 1,205,162 $ALGB to reduce our circulating supply: https://polygonscan.com/tx/0xc19bada02cc84b24740fb0e33e0ce57f347c9b31c5bbbb4013491b02765201ab
Algebra founder interviewed by Blocmates
Check out our recent discussion with @blocmatesdotcom in the frame of their Founder Series! Our co-founder, @vtikhomirov75, had a chance to dive deep into the Integral tech’s design, our view on AMMs, and much more.
Listen here: https://www.blocmates.com/videos/algebra-protocol---uniswaps-biggest-threat-an-interview
Media coverage: a thread by @2lambro
Check out a great thread by @2lambro — https://twitter.com/2lambro/status/1763076245691277717
Media coverage: immense support by THENA’s community
We’re thankful to collaborate with outstanding projects that are cultivating robust communities! A big shoutout to the THENA community for their unwavering support. Dive into the fantastic threads about Algebra crafted by the passionate users of THENA:
https://twitter.com/RodrigoLimaZeni/status/1762439188366991843
https://twitter.com/GuigsLuke/status/1762494411701940338
Remarkable growth of Lynex on Linea
The growth of @LynexFi on Linea powered by Algebra CLAMM is truly remarkable! With a staggering 14-fold increase in TVL since the beginning of February, reaching an impressive $7.24M, & a massive surge in daily trading volume, it’s clear that the market is buzzing with revived activity.
New 24H volume heights achieved
As we develop new DEX integrations, our 24-hour trading volume is soaring, hitting a remarkable $401 million on Feb, 28th thanks to the revived market enthusiasm!
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.
