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# What is ALEX?
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# 😀 What is ALEX?
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At ALEX, we build DeFi primitives targeting developers looking to build ecosystem on Bitcoin, enabled by [Stacks](https://www.stacks.co/). As such, we focus on trading, lending and borrowing of crypto assets with Bitcoin as the settlement layer and Stacks as the smart contract layer. At the core of this focus is the automated market making ("AMM") protocol, which allows users to exchange one crypto asset with another trustlessly.
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# Table of contents
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* [What is ALEX?](README.md)
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* [😀 What is ALEX?](README.md)
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## 💱 Trading, Lending and Borrowing
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## 📈 Trading, Lending and Borrowing
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* [Our Design](trading-lending-and-borrowing/platform-architecture-that-supports-ecosystem-development.md)
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* [Trading Pool](trading-lending-and-borrowing/trading-pool.md)
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* [Understanding the Orderbook](orderbook/understanding-the-orderbook.md)
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* [Using the Orderbook](orderbook/using-the-orderbook.md)
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## Whitepaper
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## 📚 Whitepaper
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* [Automated Market Making of Trading Pool](whitepaper/automated-market-making-of-alex/README.md)
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* [Automated Market Making of Yield Token Pool](whitepaper/automated-market-making-of-alex/automated-market-making-of-alex.md)
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* [Automated Market Making of Collateral Rebalancing Pool](whitepaper/automated-market-making-of-collateral-rebalancing-pool.md)
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* [Dive Into Collateral Rebalancing Pool!](whitepaper/dive-into-collateral-rebalancing-pool.md)
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## Developers
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## 🎮 Developers
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* [Testnet](developers/testnet.md)
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* [Smart Contracts](developers/smart-contracts/README.md)
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