Today marks an exciting day for the decentralized finance community around the world as Alita — a new scalable decentralized exchange — is now up and running, promising to bring forth unique DeFi services to an industry growing at breakneck speed in recent years. The Binance Smart Chain-based project currently provides one utility token — Alita, an advanced automated market maker and a compelling cross-platform reward scheme. With its unique take on decentralization and smart contracts, there are many more in store down the line.
The Alita DEX which launched today has four main features, which are swapping, staking, providing liquidity and yield farming — all designed so that traders can make further advancements toward maximizing profits while minimizing risks involved in cryptocurrency trade. Alita seeks to turn this decentralized platform into a global hub for cryptocurrency traders looking to generate greater profits by investing in innovative DeFi products.
The financial industry is always changing and in order to stay ahead of the curve, the Alita team is relentlessly working on creating novel DeFi products based on recent trends within this sophisticated market, from games such as lotteries to nonfungible tokens and all the way through to lending options for loans and a decentralized NFT marketplace that will soon be available on Alita. This is so people can have fun when making decisions about their finances without feeling pressured. With this ambitious plan in hand, the team strives to create new, engaging ways for customers to explore different investments, such as both risky investments and more traditional games such as lotteries that will offer both enjoyment and relaxation from life outside work hours.
The Alita token is invented as a way for the Alita team to give thanks and appreciation to their supportive community who have encouraged them along this journey. As such, it is used as the primary incentive for users when trading across the Alita ecosystem or through its external centralized exchange partners.
Alita has a relatively low fixed maximum supply of 100 million tokens and operates by means of a well-ordered mechanism for distribution. The Alita token allocation reduces by 20% every six months and the amount allocated to the initial airdrop distribution is 5%, while 95% of the total supply is tightly scheduled in distribution activities across both the Alita ecosystem and its CEX partners’ trading platforms within five years.
In particular, 47.5% (47.5 million) of Alita tokens are set aside as incentives for trading participants on numerous CEX partners’ trading platforms. Yield farmers on Alita are entitled to 23.75% of the total Alita supply while the remaining tokens (23.75%) will go toward rewarding staking participants. This means at this early stage of development, the Alita token allocation rates are balanced in a way that will encourage and incentivize users’ participation on both the Alita DEX platform and its CEX partners’ trading platforms.
Alita might be recognized as one of many promising projects within the world’s DeFi ecosystem, but what sets it apart from other DEX services is its extensive partnerships with various CEX platforms that commit to doling out Alita tokens to its traders for every transaction made. The ultimate goal behind this initiative is that more people, especially those that are already familiar with emerging technologies such as blockchain and CEXs but still unfamiliar with DeFi instruments in general, will obtain a better understanding of and a huge enthusiasm for the latest DeFi technologies and trends.
One of the key partners of Alita said:
“It’s an absolute pleasure to be working with Alita. Alita is the newest success in the world of DeFi — an area of the crypto business that has become the most significant trend of 2021.”
The Alita team is working hard to roll out more exciting innovations and lucrative products in their ecosystem, including lottery, lending, NFT games and many more for the next phases of the project (in 2022 and 2023). The ultimate goal of this inventive project is to shift investors from traditional finance to decentralized crypto marketplaces. In order for the project to achieve this long-term objective, the Alita team has a strategic Alita token distribution plan that aims to increase the number of Alita tokens distributed as well-deserved rewards to contributors on the Alita exchange when launching their new products on their own platform. This is done so in an effort to incentivize more users to experience their DeFi products. They might also consider reducing the amount of total allocated Alita tokens for their CEX partners’ customers over time.
The team behind Alita is making sure they are prepared for anything with an evolving platform and flexibility in mind when it comes to distributing Alita tokens. They also revealed that their token distribution strategy can be very flexible depending on the new user growth rate on Alita, the demand for Alita tokens across the CEX and DEX sectors, the future crypto market conditions as well as any major changes in the global DeFi landscape.
Moreover, the team has been continuously making strides and hitting important marks on their roadmap, with the recent addition of being listed on CoinGecko making this a major milestone for them. With such an early listing date that had previously been set as September 2021 in their original plan but achieved before August ends, they have retained a pace ahead of schedule while achieving yet another goal on time. This shows a commitment by this talented and experienced group of developers who are dedicated to going above all expectations for their users and supporters.
With September fast approaching, the team is working hard on listing the Alita token on CoinMarketCap as part of their plan to prove Alita is a transparent and trustworthy project with the potential for major growth in both user base size and market capitalization value. The team is now also inching closer to fulfilling all its milestones which will culminate into an excellent DeFi protocol for investors.