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What is ALEX?

From the Co-Founders
The DeFi landscape is teeming with possibilities, and at the heart of it all, Bitcoin DeFi is set to take center stage. In the coming years, we expect a surge in growth revolving around Ordinals, BRC20 tokens, Bitcoin L2 in particular Stacks.
A quick retrospect shows how Ordinals have brilliantly showcased the potential of the Bitcoin blockchain. This revolutionary platform has turned the table, illustrating that Bitcoin’s ledger is more than just a settlement layer. Yet, to build a truly meaningful DeFi ecosystem on Bitcoin, transactions are only one piece of the puzzle. We need a competent smart contract and computing layer to complete the picture. That’s where Stacks steps in. The domino effect triggered by Ordinals has kindled an era where we expect Bitcoin’s Layer 1 (L1) asset issuance to skyrocket. Coupled with Stacks’ prowess in handling DeFi and other economic activities, we see a flourishing ecosystem set for the years ahead.
At ALEX, we’re not mere spectators. We’re an integral part of this vibrant, multi-year growth story. Our aim? To deliver a top-notch DeFi platform that caters to the next-gen Bitcoin users, innovators, and the broader ecosystem.
So, in essence, ALEX is a concentrated bet on this view of Bitcoin Finance.
Presently, a good number of BRC-20s may appear to be meme coins, but we foresee a significant shift. We are witnessing more established projects considering BRC20 issuance. Moreover, numerous other projects we are in discussion with are considering issuing BRC20 tokens to augment their existing tokenomics and tap into a new audience. Some may argue that Bitcoin began its journey as a “meme” coin, with its initial purpose being to buy pizza amongst friends. However, the essential query is whether the technology enabling the creation of such meme coins can transcend that purpose. We are confident that BRC20 and Ordinals hold a greater potential than just being meme coins.
Our vision at ALEX is to dissolve the barrier between Bitcoin L1 and L2 to create a seamless Bitcoin DeFi experience. The relationship between Bitcoin and Stacks is fundamentally different from that of Ethereum and e.g. Arbitrum. In the Bitcoin-Stacks pair, L2 equips L1 with smart contract capabilities, while in the Ethereum-Arbitrum duo, both L1 and L2 possess their independent smart contract functionalities. Therefore, a true Bitcoin DeFi experience isn’t about users having to choose between L1 and L2. Instead, it’s about Bitcoin asset holders experiencing DeFi on L1 with L2 running smart contracts unobtrusively in the background. ALEX is not simply adapting to the emerging Bitcoin DeFi landscape — we’re actively shaping it. We’re steadfast in our belief that our efforts will continue to herald an exciting new epoch for Bitcoin DeFi, introducing the benefits of decentralized trading to an even wider audience. And by doing so, we’re facilitating the next generation of Bitcoin users to flourish within this rapidly evolving ecosystem.