AlphaX
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Overview of AlphaX DApp
AlphaX user interface is simple and consists of 7 pages, Home, Market, My Page, Trade, Mint, Redeem, and Graveyard.

โ€‹๐Ÿ  Home

This is where you begin if you are using AlphaX for the first time. We have prepared all the materials necessary for you to become an adept AlphaX user.

โ€‹๐Ÿ›’ Market

Users will use this page to explore all the Strike Tokens (long and short tokens) currently available on AlphaX. Once you hold these Strike Tokens, you can earn more by providing liquidity on available pools. Under the hood, trading and liquidity-providing activities all take place on Trader Joe V2.
Like its name, this page shows the Strike Tokens you are currently holding, the liquidity pools you are providing liquidity to and the rewards you earn. If the tokens have been liquidated, they will be shown in the Strike Tokens โ†’ Liquidated section.
And yes the Strike Tokens can be liquidated, so make sure to read the liquidation section of this document to understand the risks.

โ€‹๐Ÿ“ˆ Trade Page

When you decide to BUY/SELL any Strike Tokens, you will have to proceed with the transaction through the Trade page. This page, along with the trade function, also gives you the assetโ€™s graph to compare the market's and oracle's price. Moreover, by choosing a Strike token, AlphaX will display all the information necessary to commit the trade on the right side. This includes:
  • (Asset) Price
    The current price of the asset. The picture below shows the current ETH price.
  • (Asset) Price at Liquidation
    The price of the asset when it leads to liquidation on this Strike Token. So referring to the image down below, for the ETH-2250 token, when ETH price drops to $2,700 it will liquidate the ETH-2250 Strike token.
  • Strike Token Price at Liquidation
    This will be the value of the Strike token when it is liquidated. The value of the ETH-2250 token will become $450 when liquidated.
  • Risk Level
    This shows the risk of being liquidated, the higher the risker. AlphaX also provides a battery UI for users to track their risk level easier.
  • Capital Efficiency
    Capital efficiency derives from dividing the (Asset) value with the Strike token value.
    Hence, the percentage gain/loss for the Strike token = (Asset) price percentage gain/loss X capital efficiency

โ€‹๐Ÿญ Mint

On this page, users can mint a pair of Strike Tokens (1 long and 1 short) by supplying USDC to mint the Strike Tokens.
Minting is not the same as trading, since it creates a fresh Strike Token pair upon users supplying USDC to AlphaX, while trading is swapping USDC for a specific Strike Token (or vice versa) similar to how you would buy/sell a token on Trader Joe.

โ€‹๐Ÿ’ฐ Redeem

Users who have a pair of Strike Token (1 long and 1 short) can come to this section and redeem the tokensโ€™ underlying value.
Redeem is not the same as trading, since redeeming burns Strike Tokens pair (1 long and 1 short) and returns the underlying USDC back to users, while trading is swapping USDC for a specific Strike Token (or vice versa) similar to how you would buy/sell a token on Trader Joe.

โ€‹๐Ÿชฆ Graveyard

Liquidatable Strike Tokens will be present in the โ€˜Graveyardโ€™, where liquidators can come in to liquidate and gain 30% of the value of the liquidating token.
To liquidate, liquidator first needs to provide any opposite token. If the liquidatable Strike Token is a long token, then the liquidator needs to bring a short token. The USDC receiving amount including the profits from liquidating will then be shown.
Users holding these โ€˜dead Strike Tokensโ€™ can then redeem their tokenโ€™s underlying value on My Page and claim 70% of the actual value back.