Proposal to Whitelist AllianceBlock Token (ALBT)

Proposal to Whitelist AllianceBlock Token (ALBT)

For this proposal to pass, it requires 35% quorum and 66.7% supermajority.

This proposal is expected to appear on Snapshot for voting on TBD Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.

TL;DR

  • Proposal to whitelist ALBT.
  • Co-investment of 400,000 BNT.
  • There are no security concerns that could prohibit whitelist status.
  • There is no reason to doubt the legitimacy of the AllianceBlock project. AllianceBlock partners include, among others, AWS Activate, Holochain, Chainlink, The London Stock Exchange, NatWest and Certik. The team members are public and a description about the team and partners can be found here.
  • The benefit to Bancor is clear. Providing ALBT liquidity will attract token LPs from the AllianceBlock community to swap on Bancor, and increase protocol trade volume. ALBT LM rewards could be considered in the future under Alliance block’s LMaaS program.

Token Address: 0x00a8b738E453fFd858a7edf03bcCfe20412f0Eb0

Project Website: AllianceBlock

Liquidity

The Deepest ALBT pool in a DEx is the ALBT/ETH pool on Uniswap V2 with a $6,376,143 liquidity, $1,644,623 daily volume, and an extrapolated APR from the 24hr fees of 28.24% [1].

Balancer v1 pool with 50% ALBT, 25% WETH and 25% USDC has a $2.6m liquidity and a $256.5k daily volume. With a 1% swap fee, the extrapolated APR from the 24hr fees is 36.00% [2]


Figure 1 - Ethereum DEx and CEx volume share of ALBT swaps. Taken from $0.84 | AllianceBlock Token (ALBT) Token Tracker | Etherscan

On BSC, the WALBT/WBNB pool on PancakeSwap has a $3,320,814.43 liquidity and $185,809.44 daily volume [3].

On Avalanche, the WALBT/WAVAX pool on Pangolyn has a $440,830 liquidity, $52,572 daily volume, and an extrapolated APR from the 24hr fees of 10.88% [4].

A co-investment of 400,000BNT opens up space for at least $3.2m of liquidity in the pool.

AllianceBlock offers ALBT liquidity mining rewards for:

  • 46.67k ALBT weekly for a total of 400.0k ALBT on the Balancer V1 pool. APY of 115%.
  • 70.03k ALBT weekly for a total of 1.20M ALBT on the ALBT/WETH Uniswap V2 pool. APY of 85%.
  • 70.02k ALBT weekly for a total of 1.20M ALBT on the ALBT/USDT Uniswap V2 pool. APY of 132%.
  • 114.75k ALBT weekly for a total of 2.00M ALBT on the WALBT/WBNB Pancake pool. APY of 149%.
  • 95.63k ALBT weekly for 48 months and 8 days on AllianceBlock’s native single-sided on Ethereum. APY of 24%.
  • 45.90k ALBT weekly for 3 months and 10 days on AllianceBlock’s native single-sided on the Binance Smart Chain. APY of 23%.
  • 45.90k ALBT weekly for 3 months and 10 days on AllianceBlock’s native single-sided on the Binance Smart Chain. APY of 23%.

It would be in AllianceBlock’s best interest to also offer LM rewards for ALBTs LPs on Bancor v3 if the pool brings in decent volume.

Furthermore, AllianceBlock is offering a Liquidity Mining as a Service program with free access until the 29th of November 2021. Program can be found here. I’ve requested more information and will update the DAO if we can get a ALBT LM program started for Bancor v3 in the future.

AllianceBlock’s LMaaS would be willing to allocate 900k ALBT as reward for 6months program for ALBT-BNT token holders. BNT liquidity mining should also be considered in this scenario to reward AllianceBlock for the integration as well as ALBT and BNT LPs.

Token Security

ALBT does not have an elastic supply, or rebase mechanism. The ALBT token has a max supply cap of 1,000,000,000 ALBT. Contracts are standard ERC-20 OpenZeppelin contracts. The contracts don’t have any permissions that grant administrators unrestricted mint/burn capabilities.

The top 15 contract and addresses with the highest concentration of ALBT are vesting and team contracts, team wallets, and KuCoin.

Project

The AllianceBlock Protocol is a decentralized, blockchain-agnostic layer 2 that bridges traditional and decentralized finance and automates the process of converting any digital or crypto asset into a bankable product.

AllianceBlock is described to provide the bridge between traditional and digital capital markets for all participants, reflecting how traditional finance would be designed today with current technology. It is claimed that its ecosystem streamlines issuance, validation and clearance while integrating a progressive regulatory and compliance framework in order to reduce costs and increase efficiency.

Products include:

  • Trustless KYC/AML with Identity Verification.
  • Crossborder regulatory compliance Rule Engine.
  • Compliant P2P lending, borrowing, collateral tokenization, structured loans and governance.
  • DeFi investment terminal - https://defiterm.io/
  • Data Tunnel - AllianceBlock - Data Tunnel

AllianceBlock’s whitepaper can be found here.


Figure 2 - AllianceBlock Ecosystem.

AllianceBlock’s comprehensive roadmap can be found here.

AllianceBlock’s Future of Finance Vision

Tokenomics

The ALBT token has been designed with a focus of ensuring that platform and revenue growth correlate with a growth in utility and demand of our native digital asset.

Token utility includes (Figure 3):

  • Medium of Exchange.
  • Staking.
  • Token Burn (Protocol Layer).
  • Token Burn (Revenue based).
  • Network Fees.
  • Means of Reward.


Figure 3 - ALBT Token Utility.


Figure 4 - ALBT Token Distribution

Documentation explaining tokenomics can be found here.

AllianceBlock’s vesting Schedule

Note: From September 2021, 150,000,000 ALBT have been assigned to Nodes and will not be sold, hence are not counted for ALBT circulating supply.

Community and Communication

AllianceBlock is active on Reddit , Telegram, and Discord. The AllianceBlock team also operates official Twitter , Medium, Youtube, and Instagram accounts. The AllianceBlock Github shows a latest commit on July of 2021 [5].

Available Audits

Certik performed an audit on the vesting contracts and schedules. The audit can be found here.

Market and Trading Data

  • ALBT’s price at the time of writing is $0.85.
  • All-time high: $1.36 (6th Sep, 2021).
  • All-time low: $0.0394 (9th Oct, 2020).
  • Price 90 days ago: $0.404.
  • 310,902,283 ALBT in circulation, with a maximum supply of 1,000,000,000 ALBT.
  • The current market capitalization is $265,379,500.
  • The ALBT token is available Uniswap, Pangolyn, PancakeSwap, KuCoin, Bitfinex and Liquid.

[1] Uniswap Info
[2] Pool management - Balancer
[3] DEXTools.io
[4] Pangolin Analytics
[5] Does AllianceBlock have a Github page where you can follow all developments? : AllianceBlock

2 Likes

@tfns thanks for bringing up this proposal. Looks good to me!