Alkimiya is a blockspace markets protocol that facilitates the creation, trading, and settlement of blockspace resources. One example is BTC network Tx Fees. Wallets, exchanges, Ordinal collections, and traders can take advantage of the exploding market interests by taking long positions on the BTC Tx Fees. The more active the overall BTC market is, the more profitable these positions become. Conversely, miners can secure their revenue against the backdrop of rising uncertainties.
The core market logics are facilitated by Alkimiya Pools. A Pool is the set of all long and short positions within the same period (e.g. April 1 - April 30). Users can enter, trade, or close their positions anytime during the Pool’s period. The Alkimiya Pools are implemented as a system of smart contracts deployed on EVM-compatible chains.
If you are bullish on the network activities during the Pool’s period, you can enter into a long position.
Conversely, if you expect the network activities to cool down, you can enter into a short position.
The user can see available orders, their breakevens, and the total payment required to fill them.
After selecting the orders, you can see a summary of the total size (denominated in k vB), and the breakeven level of your trade. You are betting that the final average tx fees will be above this level:
To confirm the trade, you have to submit an upfront payment:
Payment = (breakevenPrice - floor) * size
You will receive NFTs that represent your long positions in the Pool. You can then freely trade them. All long positions in the same Pool are fungible regardless of their breakeven price.
The BTC Tx Fees Index is underlying benchmark. The index tracks the median BTC/kB per block. The Pool tracks the rolling average of the index since the start (e.g. April 1).
Upon settlement (e.g. April 30), you can claim your rewards! The final payout is based on the average of the median BTC/kB per block across all blocks during the Pool’s period.
Payout = max(cap, avg.(index in Pool’s Period)) * size
The user can see available orders, their breakevens, and the total payment required to fill them.
After selecting the orders, you can see a summary of the total size (denominated in kB), and the breakeven level of your trade. You are betting that the final average tx fees will be below this level:
