Alex proposes tokenomics overhaul with buyback and burn

The Bitcoin DeFi protocol Alex (ALEX) has submitted a governance proposal to overhaul its token economy mechanism. The proposal includes three key changes: ending ALEX community incentive payments, formally concluding the 2024 Treasury Grant Program (TGP 2024), and introducing a token buyback and burn mechanism funded by protocol revenue. The plan aims to reduce the circulating supply of ALEX and increase the token's value. The governance vote on the proposal began today, May 18, and will conclude on June 1.