ALKN is not a cryptocurrency. It is a tokenised LP interest.
Regulated under Luxembourg law. Listed on Bitfinex Securities, HydraX, and Archax. Backed 1:1 by physical Class 1 nickel in Swiss custody. This explainer walks through the instrument end-to-end — architecture, backing, economics, and listings — without pitching, without marketing noise.
The explainer, in four parts
How it works
The end-to-end architecture: nickel wire → Swiss vault → Luxembourg SCSp → Liquid/Canton issuance → Bitfinex/HydraX/Archax listings → investor wallet.
Asset backing
The physical substrate: 7,026,905 linear metres of 99.99% NP1 nickel wire, USD 1.64B independent valuation, full lab-validation stack.
Token economics
800M total · 200M offering cap · USD 1.00 at issue · USD 2.05 NAV · 51% discount · 6% preferred · 80/20 waterfall · 5-year vested lockup.
Exchanges & custody
Three regulated venues · three custody models · one legal register. Bitfinex Securities, HydraX / LabyrinthX, Archax, and Clearstream settlement.
The One-Paragraph Summary
What ALKN actually is, in one paragraph
ALKN is a digital security representing a limited-partnership interest in Alkemya Metacore SCSp, a Luxembourg Special Limited Partnership whose sole asset is 7,026,905 linear metres of 99.99% NP1 nickel wire held in Swiss custody by Helvetic Securgest SA. The LP interest carries a USD 2.05 NAV, is offered to non-US persons at USD 1.00 under Regulation S, pays a 6% preferred return with an 80/20 waterfall above that, and is dual-issued on Liquid Network (via Tether Hadron) and the Canton Network (via HydraX / LabyrinthX). It carries ISIN LU3192257148, CNAD Registration EAD-0029, and is scheduled to list on Bitfinex Securities, HydraX, and Archax on 10 June 2026.
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The ALKN Explainer translates everything you've just read into the specific architecture of the instrument.
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