Alkemi Network is a professional DeFi solution for institutions and individuals.
ZLaunch ALK Project Details
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*Project Maximum Lock Limit is the maximum amount of ZMT that can be locked in the ZLaunch project’s pool by all participating users.
**User Maximum Lock Limit is the maximum amount of ZMT that a single user can lock for the ZLaunch project’s pool.
What is Alkemi?
- Alkemi is a decentralized liquidity network running on the Ethereum blockchain, offering a suite of tools and products that serve as onramps for everyone to participate in DeFi.
- The flagship protocol, Alkemi Earn (Earn) facilitates institution-grade borrowing and lending within a compliant environment. The permissioned pool, ‘Verified’, creates a trusted-counterparty environment secured by the Alkemi Network’s KYC / AML partner, KYC-Chain. Combined with advanced reporting and risk management features, Alkemi Earn (permissioned) enables Centralized Financial Institutions to access Decentralized Finance.
- A secondary [separate] permissionless liquidity pool, ‘Open’, is also available for non-KYC / AML approved Earn users, providing a KYC-free user experience with open borrowing and lending DeFi access for anyone.
- Alkemi enables the coexistence of both permissioned ‘Verified’ and permissionless ‘Open’ liquidity pools linked to protocols governed by the network’s native multi-utility token ALK. It solves the friction points for CeFi institutions to participate in DeFi, enabling their contribution to a global, decentralized liquidity network that can be accessed and governed by the network’s community tokenholders.
Alkemi Key Token Metrics
|Current Circulating Supply||See Coinmarketcap|
|Market Capitalisation||See Coinmarketcap|
|Token Creation Date||9 Sep 2021|
|Percentage||Allocation||Percentage Unlocked at TGE||Months Vesting|
|Team & Advisors||20%||0%||48 months (monthly)|
|Prior Backers||10%||0%||Varies from 6 to 48 months (monthly)|
|Investors||10%||0%||Varies from 6 to 48 months (monthly)|
|Liquidity Rewards||35%||0%||4 years (8.75% of total supply per year at a rate of ~7.38 ALK tokens minted every Ethereum block) |
Pre-TGE liquidity mining rewards to lenders and borrowers are vested for 6 months
The initial supply at Day 0 of TGE was set at 100 million tokens, in line with the company’s initial capitalization structure pre-TGE.
Last update: as of 1 December 2021
Who is behind Alkemi?
Ryan Breen is the Co-Founder and CEO of Alkemi. He has a background as a web and data technology engineer with over 15 years of experience in multi-system integration working with real-time data and content optimization. Ryan’s forte is developing complex, enterprise-scale, and data-driven platforms.
Brian Mahoney is the Co-Founder and Chief Strategy Officer of Alkemi. Previously Brian was the Corporate Development Lead at AlphaPoint, responsible for business development, strategy and investor relations matters for the company. Brian started his career at HSBC where he held several positions working for various CFOs across the organization globally.
Ben Cooper is the Co-Founder and Chief Experience Officer of Alkemi. Ben is the Director of UI/UX & Brand at Alkemi. Ben has focused on building brands & designing great user experiences for over 18 yrs; specializing in UI/UX & brand design. Ben has experience in working with organisations such as the UN, startups and numerous agencies.
What are the current use cases of ALK token?
Alkemi’s token ALK is a governance utility token and has several utility features planned. Currently, the governance voting feature is live while the ”Staking” and “Access” features are planned for the future.
ALK allows holders to create and vote on on-chain governance proposals to determine future features and/or parameters of the Alkemi Network.
For example, ALK holders are able to propose and vote on:
- Setting interest rate models and base fee structures (e.g. origination fees)
- Administering asset markets (e.g. add, remove, lock, unlock)
- Updating protocol contracts and risk parameters (e.g. utilization limits, collateral ratios)
- Amending admin roles (e.g. Liquidators, KYC admin)
In addition to bestowing voting rights, ALK tokens will also carry the future utility of unlocking staking rewards within the Alkemi Network. ALK token holders will be able to stake their utility tokens in the Alkemi Vault as collateral to provide an additional security/insurance layer to Alkemi Network protocols and access certain preferential terms, including improved collateralization rates for borrowing.
Additional utility functionality features will be established as the network evolves.
- The flagship protocol, Alkemi Earn facilitates institution-grade borrowing and lending within a compliant environment. Alkemi Earn is a non-custodial DeFi borrowing and lending protocol tailored to institutional requirements.
- In Alkemi Earn, funds are deposited into the Alkemi Earn smart contract. Alkemi Network technology facilitates non-custodial transactions by design; every network participant retains custody and allocates their own funds. The code of the smart contract is public, open-source, verified and audited by third-party auditors. Depositors may withdraw funds from the pool at any time, on-demand.
- Each year for 4 years, 8.75% of Alkemi’s total token supply (17,500,000 ALK tokens) will be distributed to liquidity providers as ALK reward tokens. At every Ethereum block creation (currently around 13.3 seconds per block), ~7.38 ALK tokens will be minted and distributed to liquidity providers commensurate with their participation in pools.
Key Risk Considerations:
- Alkemi Network DAO and the ALK token are relatively new. Some of the token utility features like staking and access have not been implemented yet as of now.
- Alkemi Earn relies on smart contracts and so users must be aware of inherent risks that come with all products that rely on smart contracts.
- Threat of competitors and changing environment – the Decentralized Finance (DeFi) industry is relatively new as compared to the entire cryptocurrency and blockchain industry and there are currently DeFi platforms with much larger Total Value Locked (TVL) in their ecosystem that can enter the space and develop permissioned pools and thereby challenges Alkemi Network’s positioning in the industry and its value proposition. For example , Aave protocol is exploring a “private pool”.
- For more details on Alkemi Network’s risks and risk mitigations, please refer to their security statement on the potential risks and Alkemi’s targeted approach to mitigating them on an ongoing basis to ensure maximum levels of safety for their customers’ assets: https://docs.alkemi.network/alkemi-network/security-statement
Latest News and Updates
- In Q3 2021, Alkemi achieved 3 major milestones:
- Successfully completed their Token Generation Event – minting of ALK tokens and token distribution
- ALK holders are able to propose and vote on decisions concerning protocol parameters on both pools
- The Alkemi Earn permissionless ‘Open’ pool was launched
- On 17 May 2021, Alkemi Network announced KYC-Chain Partnership. KYC-Chain offers a customer onboarding framework that streamlines KYC/AML checks and customer due diligence, meeting the compliance requirements of legacy financial institutions. Following the compliance integration, centralized financial participants can use DeFi with peace of mind through Alkemi’s flagship borrowing and lending protocol, Alkemi Earn.
Community & Whitepaper Links
All investments are speculative and involve substantial risk and uncertainty. Investments in the ALK are done at your own risk. Investors should understand the nature of digital assets including the terms of return and the risk of assets. We encourage investors to fully understand the assets and the risk associated with them prior to making any investment. This project information page is intended for informational purposes only and the sole purpose of this project information page is to provide relevant and reasonable information in order to enable an analysis of ALK. Information contained herein are based on information provided by Alkemi and are subject to continuous change and therefore are not warranted as to their merchantability, completeness, accuracy or fitness for a particular purpose. Zipmex makes no representation or warranty on the completeness, accuracy or fitness for a particular purpose of such information and is not responsible for any damages or losses from any use of this information.
Versions of this project information page may contain translations of the English version. Translations are provided only as an aid to readers. In case of any conflict of information between the English and the translated version of this project information page, the English version shall take precedence.
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