AllianceBlock: The Next Era

Since the BonqDAO exploit involving ALBT tokens, AllianceBlock has released a statement on what happened, provided a technical report, published an overview of the snapshot and equitable token distribution strategy for the new AllianceBlock token, and publicized the audit report of the new token.

As we are in the final preparation stage for the distribution of the new token, in this article, we will go over the following:

• What the Nexera Protocol means for AllianceBlock;
• The new AllianceBlock Nexera Token (NXRA), replacing the legacy ALBT token as the native token for the AllianceBlock ecosystem;
• More details on the token distribution scheme across the different classifications;
• A more detailed overview of the token distribution system; and
• A note on the AllianceBlock Bridge and bridging ALBT and NXRA tokens.

AllianceBlock was founded in 2018 to build seamless gateways between traditional and decentralized finance. To achieve this, it aims to create an end-to-end infrastructure of solutions that accelerates blockchain builders and provides interoperable building blocks for traditional industries using blockchain technology.

The AllianceBlock native token, ALBT, is the heart of this ecosystem, powering the platforms and use cases built on AllianceBlock technology. In response to the BonqDAO incident, AllianceBlock has taken measures to do the best for the community, ecosystem partners, and builders and to uphold the importance of our utility token.

Thinking the best for the community and AllianceBlock led to the decision to create a new token to replace the legacy ALBT token, taking on its utility but also ensuring that we are taking the opportunity to set the foundation for the next era of AllianceBlock.

The Nexera Protocol

In our 2020 whitepaper, we introduced the Prometheus Protocol, a layered architecture that can facilitate cross-border transactions in capital markets in a regulated and compliant manner. The vision for the Prometheus Protocol has since been expanded with solutions such as DeFi Terminal for frictionless liquidity mining and staking, Bridge for cross-chain interoperability, DEX for liquidity provisioning with impermanent loss mitigation, TIDV for trustless data sharing, and Data Tunnel for data monetization. Fundrs, launched last year, is the culmination of the initial vision in the Prometheus Protocol and has since featured cross-solution integrations with TIDV and DeFi Terminal.

To further integrate our solutions and build new use cases and platforms, we developed the Nexera Protocol, which acts as the connective tissue across the AllianceBlock technology stack, bringing us closer to our mission of building seamless gateways between DeFi and TradFi. The Nexera Protocol is powered by MetaNFTs, which makes it much easier to develop interoperable use cases across our solutions. More importantly, it unlocks the potential for builders and partners to bring the best aspects of DeFi and TradFi together and create new and innovative platforms and use cases.

With the Nexera Protocol hailing the arrival of the next era for AllianceBlock, the new AllianceBlock Nexera Token (NXRA) launches the next era for ALBT. The ALBT token, which powered our suite of solutions and was destined to power the Nexera Protocol, will now be replaced by the NXRA token, propelling us toward the next era.

Introducing the NXRA token

The AllianceBlock (ALBT) token will now be fully replaced by the AllianceBlock Nexera Token (NXRA). The legacy (original) ALBT token is fully deprecated and has no more utility, with NXRA completely taking over its utility and properties.

With the audit of the NXRA token completed by Omniscia as of February 13, we are now finalizing the details and mechanism for distributing the new token. Following the recommendation by the auditors, we are adopting a claiming mechanism based on Merkle tree proofs to minimize gas fee costs.

Token Information

• Name: AllianceBlock Nexera Token
• Token Symbol / Ticker: NXRA
• Max supply: 850M
• Networks: Ethereum, BNB Smart Chain, Avalanche, Polygon, and Energy Web Chain
• Contract Address: Will be updated once the token is deployed
• Launch of Token Distribution: Week of 20–24 February 2023

Token Distribution Scheme

The support for AllianceBlock during this period has been welcomed and received with positivity from most of our community. We have been working tirelessly to provide the best resolution to our token holders, and we aim to be as transparent as possible during this process. Below you will find a timeline that clarifies the previous blog. Please note that this timeline refers to on-chain data only.

For users who…

Held their tokens (Holders)

• Holders who held their tokens in their wallets (not including CEX users) until the Community Update published on 7 February 2023 will get 100% (1:1) of their legacy ALBT tokens in NXRA tokens.
• Holders will need to claim their tokens from the official claim page.

Staked their tokens on Fundrs or AllianceBlock staking campaigns (Stakers)

• Stakers who have legacy ALBT staked will get 100% (1:1) of their legacy ALBT tokens (including rewards for stakers) in NXRA tokens.
• Stakers with unclaimed ALBT balances in expired campaigns will get 1:1 equivalent of their unclaimed balances plus rewards in NXRA tokens. They can claim their tokens from the official claim page.
• Stakers in the ongoing 2- and 4-year campaigns will get 100% of their tokens and rewards in NXRA tokens. Their NXRA tokens will continue to be staked in new campaigns reflecting the same rewards schemes and end dates.
• Stakers in the Fundrs Staking contracts (regular and locked) will get 100% of their tokens in NXRA tokens. Their NXRA tokens will continue to be staked, in Fundrs and receive their rALBT rewards as is. Reputation points will continue to be represented in rALBT tokens until an upgrade to the reputation system in the future.

Provided liquidity to AllianceBlock liquidity pools (Liquidity Providers)

• Liquidity Providers will get 100% (1:1) of their legacy ALBT tokens (including rewards) in NXRA tokens.
• Liquidity Providers will need to claim their tokens from the official claim page.

Bought tokens (Buyers)

• Buyers who bought before the Snapshot (1 Feb 2023, 11:04 PM CET) will get 100% (1:1) of the legacy ALBT tokens they bought in NXRA tokens. This amount represents their ALBT balances in their wallets at the time of the Snapshot.
• Buyers who bought between the Snapshot (1 Feb 2023, 11:04 PM CET) and up to 24 hours after the Twitter Announcement (2 Feb 2023, 9:52 PM CET) will receive a portion of the legacy ALBT tokens they bought in NXRA tokens.
• Buyers who bought after 24 hours after the Twitter Announcement (2 Feb 2023, 9:52 PM CET) will not get compensated.
• Buyers will need to claim their tokens from the official claim page.

Sold tokens (Sellers)

• Sellers who sold before the Snapshot (1 Feb 2023, 11:04 PM CET) will not get compensated.
• Sellers with legacy ALBT balances in their wallets at the time of the Snapshot will be compensated for the same amount left.
• Sellers who sold between the Snapshot (1 Feb 2023, 11:04 PM CET) and up to 24 hours after the Twitter Announcement (2 Feb 2023, 9:52 PM CET) might receive a portion of the legacy ALBT tokens they sold in NXRA tokens.
• Sellers who sold after 24 hours after the Twitter Announcement (2 Feb 2023, 9:52 PM CET) until the publishing of the Community Update (7 February) will not get compensated.
• Eligible sellers will need to claim their tokens from the official claim page.

Both bought and sold tokens (Traders)

• Traders who traded before the Snapshot (1 Feb 2023, 11:04 PM CET) will get the equivalent (1:1) amount of their legacy ALBT balances in NXRA tokens.
• Traders with legacy ALBT balances in their wallets at the time of the Snapshot will be compensated for the same amount left.
• Traders who traded between the Snapshot (1 Feb 2023, 11:04 PM CET) and up to 24 hours after the Twitter Announcement (2 Feb 2023, 9:52 PM CET) might receive a portion of the legacy ALBT tokens they bought and sold in NXRA tokens.
• Eligible Traders will need to claim their tokens from the official claim page.

Are on CEXes (CEX Users)

• CEX Users will have to wait for advice from their centralized exchange on how the token distribution will happen on their platform. Please wait until an official announcement from your CEX. Contact their support in case of questions when the distribution has started.
• AllianceBlock has fully cooperated with CEXes for the best course of action for CEX users. We have also advised the same token distribution mechanism we are implementing for users on decentralized exchanges, and provided them with the amount of tokens we have determined based on the snapshot.
• CEXes, however, will work from their platform data and might have specific distribution schemes. AllianceBlock cannot ultimately influence how they distribute the tokens.

Claiming NXRA Tokens

The token distribution for the AllianceBlock Nexera Token (NXRA) will be implemented using an official claim page. This website will be launched specifically to allow users to connect their wallets and claim the respective amount of NXRA tokens depending on their classification, as discussed in the previous section.

The website link and guided instructions on how to claim will be announced next week. Please stay tuned only on AllianceBlock’s official Telegram Announcement Channel, Telegram Community, and Twitter accounts for information.

Claiming NXRA Tokens will only be available on the Ethereum network. The Snapshot took into account ALBT balances across the different supported networks.

• Eligible users can claim NXRA tokens on Ethereum, regardless if their Wrapped ALBT (WALBT) was on BNB Smart Chain, Avalanche, Polygon and Energy Web Chain — provided they connect with the same wallet address.
• Users with bALBT (Burgerswap Bridge ALBT) on BNB Smart Chain will also be able to claim NXRA tokens on Ethereum.

When a wallet is connected to the website, it checks the users’ wallet address and determines the amount of NXRA tokens eligible for claiming. The amount of tokens that users can claim will be dependent on their:

• Classification (Holders, Stakers, LP Providers, Buyers, Sellers, Traders, etc.); and
• The time they conducted their activities (Before Snapshot, Between Snapshot and 24 Hours After Twitter Announcement, After 24 Hours and Community Update, After Community Update).

For more information on the different stakeholder classifications and details about the snapshot, we refer you to our previous community update here.

The official claim page will ONLY be communicated via our official Telegram Announcement Channel, Telegram Community Channel, and Twitter. There are no third-party websites where users can claim their NXRA tokens.

The company brand account, team members, and community managers WILL NEVER DM YOU FIRST. Please stay vigilant for scammers and fraud offering you help and support or posing as AllianceBlock.

A Note on Bridging

The AllianceBlock Bridge will have a major update in the future to the ERC-20 token bridge that will make bridging ERC-20 tokens across different networks more seamless. Only once the update is deployed will it be possible to bridge NXRA tokens. We are expecting to have more news about this in the following weeks.

The AllianceBlock Bridge was disabled following the BonqDAO exploit as it used ALBT as the primary payment token for bridging, and it prevented the transfer of ALBT to other networks with liquidity.

The AllianceBlock Bridge will be restarted today to allow bridging other tokens, except for ALBT (fully deprecated now) and NXRA (when the token distribution begins). Users bridging Enjinstarter (EJS) tokens between Ethereum and BNB Smart Chain can use (W)EJS to pay for the bridging fee. Users bridging other tokens across the support networks can use Energy Web Token (EWT) or Wrapped AllianceBlock Energy Web Token (W)ABEWT to pay the bridging fee.

NXRA: The Next Era of AllianceBlock

We are humbled by the support and feedback we have received from our partners, clients, and, most importantly, our community. Your engagement and feedback have guided us throughout these times and ultimately influenced how the token distribution was planned and determined. This has energized us to keep delivering on our vision to build seamless gateways between DeFi and TradFi.

Next week, we will release detailed information and instructions on how to claim NXRA tokens from the official claim page and specific examples for buyers, sellers and traders.

We will also release more information about an upcoming update to the AllianceBlock Bridge that will introduce new features and how to bridge NXRA tokens.

Please be vigilant against scams and fraudulent messages on Twitter and Telegram. Since the announcement of the exploit, some impersonating and scam Twitter accounts and Telegram users have popped up “offering assistance” or “support” to distribute the new token.

The AllianceBlock team and community managers will NEVER PM YOU FIRST, and there are no other accounts than the official ones. Please stay tuned for information only on official AllianceBlock profiles and channels on Twitter, Telegram Announcements Channel and Telegram Community.

About AllianceBlock

AllianceBlock is an infrastructure provider for decentralized tokenized markets. It empowers businesses with liquidity provisioning and allows them to compliantly issue, manage, and trade tokenized, digital assets including real-world assets (RWAs).

The AllianceBlock ecosystem of partners, clients, and ventures consists of top stakeholders from the financial industry, as well as the decentralized finance (DeFi) sector. Their unique product suite complies with global regulations and seamlessly integrates with legacy systems.

Be sure to follow us on Twitter and follow us on Telegram, so you don’t miss out on any important AllianceBlock news or updates.