Thank you chistx2005 for raising these points, all are fair questions and the community deserves a proper update.
On ALEX DeFi Activity and TVL
Year-to-date, DeFi activity on Stacks has been subdued, reflecting a broader slowdown across the Bitcoin ecosystem. This has naturally weighed on TVL at ALEX. While we understand this is frustrating to see, these conditions are largely driven by macro factors affecting the entire Bitcoin DeFi space. We remain hopeful that as the ecosystem recovers, activity will follow.
On AMM V2 / DAMM
DAMM, ALEX’s third-generation concentrated liquidity AMM, is technically complete. However, launching a product of this complexity requires more than functional code. It requires sufficient liquidity depth, active liquidity management, strong security posture, and the right market conditions to ensure a positive experience for LPs and traders.
Launching into a thin or low-activity environment would not serve the community well. Our view is that timing matters. A well-supported launch in favorable conditions is far more beneficial than rushing to market.
We are also observing comparable concentrated liquidity implementations on Stacks, including Bitflow’s HODLMM currently in early access, as useful reference points. Network-level considerations such as compute budget constraints are likewise part of our evaluation.
So the product is ready, but the market isn’t. The goal is to launch at the right time, not simply the earliest opportunity.
On Tessera
We want to be clear on this, as there seems to be some understandable confusion.
Tessera Lab (formerly ALEXGO Pte. Ltd.) is a blockchain technology company whose business is developing and licensing blockchain infrastructure. It has incubated both ALEX and Tessera as separate, independent projects, much like a startup studio.
ALEX is operated independently by ALEX Lab Foundation with its own dedicated team. Tessera is equally its own independent venture. Team members working on Tessera are doing so in that capacity, and this is entirely separate from ALEX’s operations.
On Communication
This is a fair point and one we take on board.
We acknowledge that communication has not been as consistent as it should have been during this period. While much of our focus has been on capital preservation, product readiness, and long-term positioning, that does not excuse reduced visibility. We will improve the frequency and clarity of updates going forward.
Thank you again for your continued engagement and patience. Your feedback is heard and appreciated.