FAQ

A stablecoin is a payment instrument designed to hold a stable value (usually pegged 1:1 to USD). It does not pay yield to holders, is not a security, and carries no commodity exposure. ALKN is a security with a USD 2.05 NAV, pays a 6% preferred return plus an 80/20 waterfall, and expresses direct exposure to high-purity nickel. The two are not substitutes.

PAXG and XAUT are bearer certificates on allocated physical gold. They do not pay distributions and are not LP interests. ALKN is an LP interest in a Luxembourg SCSp with a documented preferred return and waterfall. Gold tokens give you commodity exposure with no yield; ALKN gives you commodity-linked exposure with structured yield.

No. ALKN is a regulated digital security distributed through three licensed venues (Bitfinex Securities, HydraX, Archax) and settling partially through Clearstream. It has limited composability with permissionless DeFi protocols by design. DeFi-style composability is possible only within the regulated perimeter — for instance, posting ALKN as collateral on a KYC-compliant lending venue.

Multiple regulators, each for a different piece. Issuer: Luxembourg (CSSF · SCSp regime). Listings: CNAD El Salvador (Bitfinex Securities), MAS Singapore (HydraX), FCA UK (Archax). Offering: Reg S (non-US persons). Institutional settlement: Clearstream Luxembourg.

In a Swiss bonded vault operated by Helvetic Securgest SA. Quarterly proof-of-reserves attestations are performed by Grant Thornton for the physical inventory and Deloitte Luxembourg for the SCSp books.

No. ALKN tokens have not been and will not be registered under the US Securities Act. The offering is made exclusively under Regulation S to non-US persons. Venue-level restrictions also apply.

The token unit price at issue is USD 1.00. Minimum subscription amount is disclosed in the offering memorandum on Site 1 (alkemya.com). Institutional minimums may apply via Clearstream settlement.

Yes, depending on the venue. On Bitfinex Securities, ALKN is held on Liquid Network (a Bitcoin sidechain) and can be moved to a Liquid-compatible wallet. On HydraX and Archax, ALKN is held on Canton Network via HydraX Digital Assets custody (MAS-licensed) or Archax safeguarding (FCA). Institutional investors may settle and hold via Clearstream.

The SCSp realises value by staged sales of the underlying nickel inventory. Net distributable proceeds flow through the waterfall: return of capital, then 6% preferred return to LPs, then 80/20 split above preferred. Distributions are quarterly, subject to realised sales and the transfer agent's execution schedule.

600M of the 800M total supply carry a 60-month vested lockup, releasing on a monthly linear schedule (10M per month). The 200M offering tranche is not subject to the lockup.

Staged sales of the underlying nickel are the primary source of distributable cash flow. The SCSp realises value by selling the nickel wire into Class 1 industrial demand (EV, hydrogen, aerospace) and distributes the proceeds through the waterfall. The 5-year schedule is designed to pace sales with the discount-compression cycle.

NAV per interest is calculated from the independently-appraised value of the nickel inventory (Aranca) plus any retained cash, less SCSp liabilities, divided by outstanding interests. Current NAV: USD 2.05. NAV is recomputed quarterly.

Deloitte Luxembourg audits the SCSp books. Grant Thornton performs independent physical-inventory attestations at the Swiss vault. Aranca performs the asset valuation. Each attestation is disclosed in the institutional investor portal on Site 1.

Two. Liquid Network (Bitcoin sidechain) via Tether Hadron for Bitfinex Securities. Canton Network via HydraX / LabyrinthX for HydraX and Archax. Both issuances map to a single LP Interest Register maintained by the transfer agent; the register is the legal source of truth.