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Alex Daddy
2022-07-07 13:42:02 +00:00
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# What is ALEX? # What is ALEX?
## ALEX is an open-source DeFi protocol built on the [Stacks Blockchain](https://www.stacks.co), modelled on yet extending the world’s existing financial markets. ## ALEX is an open-source DeFi protocol built on Bitcoin via [Stacks](https://www.stacks.co), modelled on, yet extending, the world’s existing financial markets.
Upon launch, at ALEX you can: Upon launch, at ALEX you can:
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* Mitigate risk with BTC short positions * Mitigate risk with BTC short positions
* Maximize upside with BTC leveraged long positions * Maximize upside with BTC leveraged long positions
Our initial focus \(v1\) is to: Our initial focus (v1) is to:
* Build DeFi primitives targeting developers looking to build ecosystem on Stacks, and * Build DeFi primitives targeting developers looking to build ecosystem on Stacks, and
* Simplify the user experience going from\(to\) CeFi to\(from\) DeFi to attract non-developers, broadening the Stacks user base. * Simplify the user experience going from(to) CeFi to(from) DeFi to attract non-developers, broadening the Stacks user base.
Alex-v1 implements novel Clarity smart contracts on the core concept of Yield Tokens \("ayTokens"\). Yield Tokens allow term lending with fixed APYs.