Alkemi Network Live AMA




Welcome to the Alkemi live AMA with The Gem Hunters, we would like to thank the team for attending today and sharing information on the project with our community!



Pandah|TGH/Co-Owner@TheGemHunterstg : To kick this ama off, we’d love to hear an overview of Alkemi Network and what you guys are all about!

Brian Mahoney/CSO @AlkemiNetwork :

Alkemi Network is all about enabling everyone to use DeFi. We are a custody-free, decentralized liquidity network that facilitates access to a professional DeFi solution… which means that we have created the technology for institutions, exchanges and individuals to earn compliant yields on their Ethereum-based digital assets.

Pandah|TGH/Co-Owner@TheGemHunterstg : Next, could you share some info on the team behind the project? What kind of experience do you all have prior, and what inspired you to come together to build Alkemi Network?

Brian Mahoney/CSO @AlkemiNetwork :

Alkemi Network was cofounded by Ryan Breen (CEO), Ben Cooper (CXO) and myself (CSO) in 2018.

I come from a CeFi background with 10+ years of experience in capital markets and fintech and I joined up with Ryan, who had started coding smart contracts in Solidity with UX/UI designer and developer, Ben. We actually met at Techstars, where we were selected to be in the inaugaural blockchain accelerator… we had all fallen down the DeFi rabbit hole and had been evaluating some of the emerging protocols but we observed that adoption thus far had been driven by retail users, leaving a gap for institutional capital.

Meanwhile, the institutions who I was telling about this emerging fintech ecosystem (this was early… back before it was called. DeFi, we used to call it open finance ha), were unable to participate because of compliance and risk/reporting issues. There was a lot of money sitting on the sidelines that couldn’t find its way into DeFi. So, we started building Alkemi Network together, with an initial focus on bringing the wall of institutional capital to DeFi, to enable this system, that we all believed in, to grow!

And I must say, 2021 has been a rocketship year for us. It has been great to see our flagship borrowing and lending platform (Alkemi Earn) take off since going live on mainnet Q420… It preceded a flurry of activity that ended up with us being 20x over subscribed for our investment round in early spring! We subsequently launched out of stealth and our goal to come to market in a revenue generating state, live on mainnet was realized! (This was our ‘Coming out of Stealth’ article that was published on Yahoo Finance https://yhoo.it/3aI7N0O ; it gives a little more detail on the backers and Liquidity Providers who have joined us along our journey so far.)

Pandah|TGH/Co-Owner@TheGemHunterstg : You’ve just mentioned your funding round for ALK – Alkemi Networks’ native token, ALK, is the centerpiece for the ecosystem; could you break down the tokenomics and incentive structures? What kind of utility does ALK offer to its holders?

Brian Mahoney/CSO @AlkemiNetwork :

Our token ‘ALK’ is a network utility token and will be launching later this month.

It’s primary use is for governance, so ALK holders will be able to propose and vote on decisions to determine the future of the protocol, such as setting interest rate models and fees, selecting asset markets, and updating contracts.

It’s interesting because Alkemi Network is the first decentralized liquidity network to facilitate both KYC permissioned and permissionless liquidity pools governed by one utility token (e.g. 1 network, 2 pools, 1 token), so the token is at the center of the network and will be distributed widely amongst the members of the participating community.

Also, because of our network’s massive community focus, we have dedicated our largest bucket of supply for liquidity rewards (35% of our total token supply) , so by using Alkemi Network’s protocols – such as borrowing and lending on Alkemi Earn – users become stakeholders in the network, in the ecosystem.

For more information on tokenomics, the distribution of the token on a block-by-block basis to participants in Alkemi Network and the utility for the ALK token, please see our One Pager : https://bit.ly/alkonepager

Pandah|TGH/Co-Owner@TheGemHunterstg : Alright let’s jump into the Alkemi Network platform, what kind of Defi applications do you offer users? What kind of incentives are there for each dapp, and for the ALK tokens?

Brian Mahoney/CSO @AlkemiNetwork :

Alkemi Earn (earn.alkemi.network) is our flagship borrowing and lending protocol, currently live on the Ethereum mainnet. We have already received $26m+ in deposits (note that initial deposits have been capped at $500k) from 55+ institution-grade partners and users. While we have plans for other future protocols, our current focus is to keep the spotlight on our professional DeFi borrowing and lending protocol as the gateway for institutions to access compliant DeFi…. the ‘institutional beach head’ strategy as we refer to it.

Initially, we launched Alkemi Earn with our KYC approved ‘Verified’ digital asset pool, which allow users to deposit or borrow ETH, USDC, DAI and wBTC and benefit from earning ALK tokens through our Liquidity Mining program – now live.

Around the time of TGE later this July, we will launch a second permissionless digital asset pool ‘Open’, which will provide an opportunity to users who don’t wish to undergo KYC verification to participate in the protocol. These users will also be able to benefit from the Liquidity Mining program, which is set to distribute 35% of the total ALK token supply over 4 years. See our liquidity mining program for more details on how to participate: https://docs.alkemi.network/alkemi-network/liquidity-mining-program

Pandah|TGH/Co-Owner@TheGemHunterstg : Since the Alkemi Network deals largely in lending and borrowing, there is an inherent risk associated with protocol interaction. What kind of security measures have you put in place to give investors peace of mind?

Brian Mahoney/CSO @AlkemiNetwork :

Great question. As we have positioned ourselves as a professional DeFi solution, security, stability and ease of use are core pillars to our value proposition and offering.

Prior to TGE later this month, we will be releasing an audit performed by Quantstamp (who is also a stakeholder in Alkemi Network). The audit is currently underway and covers the protocol entirely. In addition to the Quantstamp audit, we are exploring the possibility of a bounty-driven community audit to add a further layer of security to the network.

Further to the above, we have diligent internal functional testing and user acceptance testing with our many finance partners prior to every release. There is also real-time monitoring, alerting and troubleshooting for smart contracts (Tenderly) and we always make use of security-trialed, community-reviewed code libraries where available, continuously improved and tested by developers worldwide.

Lastly, we also have a security statement published on our website that we frequently update. You can check it out here: https://docs.alkemi.network/alkemi-network/security-statement

Pandah|TGH/Co-Owner@TheGemHunterstg : Lastly, what can we expect from the future of Alkemi Network? Do you all have a roadmap to share, as well as any announcements we should watch out for?

Brian Mahoney/CSO @AlkemiNetwork :

Lots to look forward to 🤘you can find the roadmap here: https://alkemi.network/roadmap

I will highlight a few items on the roadmap:

In addition to the Network’s TGE happening later this month (a milestone event!), we have many additional upcoming announcements planned as we head into the next growth phase for Alkemi Network. Some of the enhancements we are looking to execute on include: staking, more stablecoin markets, product feature enhancements like lowering the cost of capital, exciting announcements with centralized infrastructure integration partners, additional token utility enhancements. We have been working hard on a TON of stuff behind the scenes are excited to start sharing our work with the community as progr.essively decentralize.

We remain committed to our exponentially growing community and we have a lot of upcoming community events planned as well :) It’s going to be a very exciting 6+ months!


For more information on Alkemi refer to the links below:


Website: https://alkemi.network/


Twitter: @AlkemiNetwork

Telegram: https://t.me/AlkemiNetwork

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