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 stated LP NAV · 6% preferred return provision (contractual waterfall term — not a guaranteed coupon or current cash yield) · 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 (physical-metal custody; distinct from token custody, which is handled by HydraX in Singapore). The LP interest carries a stated LP NAV of USD 2.05 (a contractual attribute; not a market-observed valuation), is offered to non-US persons at USD 1.00 pursuant to Regulation S (subject to the conditions, investor restrictions and transfer limitations described in the offering documents), and includes a 6% preferred return provision (a contractual waterfall term — not a guaranteed coupon or current cash yield) with an 80/20 waterfall above that. It is dual-issued on Liquid Network (via Tether Hadron) and the Canton Network (via HydraX / LabyrinthX), carries ISIN LU3192257148 and CNAD Registration EAD-0029, and is scheduled to list on Bitfinex Securities, HydraX, and Archax on 29 June 2026.
Ready to apply the theory?
The ALKN Explainer translates everything you've just read into the specific architecture of the instrument.
Jump to the ALKN Explainer →