Hey everyone! We promised to answer some of the questions that came in over the past few weeks, and here’s our team’s response.Everyone’s excited about the bull market, but its impact on Algebra is limited. A successful TGE requires buyer interest, which is clearly lacking now. In general, Bitcoin is dominant, pushing altcoins and related events to the background.
Key issues wi/ past tokenomics included insufficient liquidity, low buyer interest, limited project visibility on a global scale, and a lack of established connections with key players and projects.
These issues can't be resolved in just a month since pausing the token.
The main takeaway: a TGE requires thorough preparation. A listing alone doesn’t deliver any results.
We continue our efforts—just in recent weeks, five new DEXes have partnered with us, and the first concentrated liquidity DEX built by the Algebra team, TONCO, is launching on TON blockchain on November 19th.We recently attended some exciting events and received positive feedback on Algebra. We’re now working on additional DEX integrations and building new plugins for Integral, which we believe will influence major DEXes' decisions on adopting Integral in the near future.
Notably, Camelot and v3v are among Algebra’s investors. More investor details will be shared soon.Our staking results are also promising—17.9K rewards distributed over three weeks. More growth lies ahead, with the bull run, new DEXes, and increased trading fees set to boost future rewards.
Now, let's get straight to the questions you left:
1) I have 295k ALGB, in the staking page the value of 295k tokens is 1328, last week it was almost double. Any reason??The balance was changed due to price calculation: for staking, we calculate APR based on an ALGB price of 0.0045.
For the unified token airdrop, we’ll calculate the drop for each participant based on a price of 0.008.
In your case, the initial price display might be a bug, but it doesn’t affect your rewards.
2) Any info about how the new tokenomics will handle the leftover $ALGB on exchanges like MEXC? If there were previously 800M tokens with only 400M on-chain, will there be inflation or a 1-to-1 ratio drop for the new token?We believe there are very few tokens left on centralized exchanges, as most users moved tokens to cold wallets before the snapshot. This should not be an issue.
3) Will Algebra launch its own branded DEX, given the existing infrastructure?This would require forming a dedicated DEX team, mainly for marketing. We often receive proposals from blockchain projects, so branded DEXes may come soon.
4) Could the new token be launched in Q4 this year? The white paper says timing could be adjusted for the bull run. Isn’t the bull run happening now?No, there isn’t enough time to prepare. The issues haven’t been resolved, but we are actively working on them.
5) What happened to the ALGB token? I have mine on Polygon, but it’s no longer supported.Please refer to this article:
https://medium.com/@crypto_algebra/algebra-new-tokenomics-unified-token-plans-update-for-august-21st-eb4bdd9832d26) Rewards were low at the start of staking. It might have helped to maintain the 70/30 split and then gradually switch to 30/70 as fees increased and integral value grew. Now everyone’s disappointed with just $7.34 per week in a bull market.Before the snapshot, ALGB token’s price was 0.005 USD—now, it provides an APR of over 50%. That’s a solid figure even for a bull market, and it will only increase from now.
7) Would creating an OTC platform for users to trade be possible? This could add some tradeable value for the project's future… any thoughts?We don’t control OTC trades, but users can initiate these transactions themselves.
8 ) Could we get monthly updates on TGE progress?We’ll begin preparing these updates soon. Thank you for the feedback.
That’s all for now. Thank you for your time and interest in the project’s growth. We share your passion for bringing Algebra to top-tier status in DeFi, and we’re working hard to make that happen.
