ALKN is a digital asset representing tokenised limited partnership interests in Alkemya Metacore SCSp, a Luxembourg special limited partnership. The partnership’s principal asset is a strategic inventory of 7,026,905 linear metres of 99.99% pure (NP1-grade) nickel wire.
This industrial-grade asset has been independently valued at approximately USD 1.6 billion. The valuation was conducted by ASACERT, a specialized engineering and certification firm, with its methodology reviewed by Deloitte. The asset’s existence and quantity have been physically verified by independent inspectors, and it is secured in a high-security vault in Lugano, Switzerland.
Note: If you have been redirected to this Bitfinex Securities article because you have indicated an intention to purchase the ALKN token during the Capital raise or in secondary market you need to provide certain confirmations, and sign a limited partnership agreement with, Alkemya Metacore SCSp (the Issuer) here.
- Once you have taken these steps the Issuer will inform Bitfinex Securities that there are no impediments to adding your name to its register of limited partners. On receipt of this confirmation, Bitfinex Securities will open its trading facilities for you to purchase the tokens.
- If you purchase during a capital raise, you will need to execute the sale agreement on the site in the normal way. Bitfinex Securities will inform the issuer of your purchase, and your name will be added to the issuer’s register prior to tokens being allocated to you.
- Purchases in the secondary market will be possible shortly after Bitfinex Securities receives confirmation of your eligibility from the issuer. After your initial purchase Bitfinex Securities will inform the issuer that you have purchased tokens in order for your name to be added to its register of limited partners.
Note: The minimum investment in ALKN in either the capital raise or the secondary market is $120,000 USD
Useful links
Note: Information required by the Issuer can be provided on the link below:
https://alkn-onboarding.scytale.tech/
Alkemya (ALKN) — Frequently Asked Questions (FAQ)
— What specific assets back the ALKN token?
Each ALKN token represents a fractional interest in the partnership, whose primary asset is 7,026,905 linear metres of 99.99% pure, 0.025mm diameter NP1-grade nickel wire [1, 18] and shares in GTX, the technology commercialisation entity. This entire inventory is ring-fenced, unencumbered, and physically held in custody at Helvetic Securgest, a secure vaulting facility in Lugano, Switzerland.
The Token affords investors a combination of an asset-backed investment and a thematic play on energy transition and electronic security technologies.
The listing on Bitfinex Securities of the Token will enable Alkemya to leverage tokenisation to access a wider pool of global investors and be part of a regulated, 24/7 trading venue. The tokens aim to provide long-term investment value linked to real world applications and technology.
— What is the intended use of proceeds from the offering?
The proceeds received by Alkemya from the sale of the Tokens in the Bitfinex platform will be used (i) to inject additional capital into the Partnership for working capital purposes of the Partnership, including (a) to finance, through an intermediate holding company in Malta , GTX, a subsidiary limited liability private company incorporated and located in Singapore (GTX), to finance targeted research by, among others, establishing an R&D facility , financing research CAPEX equipment, working capital towards the lead research head and the lab technicians or procurement of additional samples for testing and development of new mesh design, product development, and fund mesh manufacturing and product distribution, and purchase of nickel wire from the Partnership and carry out trading activities in relation to the manufactured product and (b) to pay management fees to the GP and to GTX for carrying out management services to the Partnership and (ii) to repay Alkemya’s outstanding liabilities. Alkemya may also provide working capital to other entities, so these undertake commercial activities relevant to the above operations.
— What independent audits, verifications, and proof of custody are available?
ALKN’s asset backing is validated by a multi-layered, international verification process:
Custody & Physical Verification: The asset is held under a safe keeping receipt at Helvetic Securgest in Switzerland. Physical inspections confirming quantity and condition were conducted by ASACERT, Grant Thornton, and Studio Rayneri.
Valuation & Audit: The asset was appraised by ASACERT UK, with the valuation methodology reviewed by Deloitte Advisory S.r.l. SB. The partnership’s accounts are audited by Ria Grant Thornton. Studio Rayneri, a statutory auditing firm, also affirmed the fair value of the asset inspected and recorded on the books of Alkemya Metacore SCSp.
Scientific & Technical Validation: The material’s purity, properties, and suitability for advanced applications have been independently tested and confirmed by six world-class institutions, including NTU Singapore, IIT Delhi, and the NASA-certified Lectromec laboratory in the US.
— How is the value of the tokens determined?
An issue price of USD 1.00 lets token supply track Partnership capital 1:1. Capital accounts, NAV per token, carry and the waterfall all reconcile without fractional calculations. That is the rationale for offering ALKN Token at USD 1.00 per token.
Alkemya Metacore SCSp, the Partnership, holds an asset with a value of USD 1.64 billion and has issued 800 million tokens at USD 1.00 per token recorded on its balance sheet as USD 800 m Limited Partnership interests issued and the difference of USD 843 million is booked as Limited Partners Reserve to balance the accounts.
The value of the issued tokens will be determined by an independent licensed administrator in Luxembourg by following the private equity type of valuation best practices. It will take the value of the assets on the balance sheet of Alkemya Metacore such as nickel asset and shares in GTX plus any cash on the balance sheet less liabilities and divide it by the number of tokens issued to arrive at net asset value per token.
The token's intrinsic value is defined on page 12 of the RID as arrived at by taking USD 1.64 billion asset value ÷ 800 million tokens issued that is equal to USD 2.05 per Token.
— What is the difference between the offering price and the intrinsic value?
The offering price of the ALKN Token is USD 1.0 per token, the price it was issued at by the Partnership. Please see above. Alkemya is raising capital at a price of USD 1.0 per token during this round of fund raise. However, once the net asset values start getting published and the technology development news starts being reported then the per token value should reflect these developments on its current traded value and its future expected value on the traded exchange.
The ALKN intrinsic value is a term defined on page 12 of the RID arrived at by taking USD 1.64 billion asset value ÷ 800 million tokens issued at USD 1.0 Par Value per token that is equal to USD 2.05 per Token.
Alkemya Metacore SCSp, the Partnership, owns nickel wire asset with a value of USD 1.6 billion which it acquired under an in-kind Contribution Agreement dated 22 September 2025 from Alkemya Luxembourg Sarl (“Alkemya”) and in exchange issued 800 million digital LP interests to Alkemya at a price of USD 1.0 per token. The asset was valued on the balance sheet of Alkemya filed with the Tax authorities and with the RCS at Euro 1.4 billion with an equivalent USD value of USD 1.64 billion. So, it was at fair value and did not trigger any tax impact on the Partnership. On the balance sheet of the Partnership, it shows an asset with a value of USD 1.64 billion and on the capital structure side of its balance sheet it shows 800 million digital LP interests at USD 1.0 per LP interest ( the tokens) with a Limited Partners Reserve of USD 843 million to balance the accounts. This balance sheet was filed with CNAD.
— What is the vesting schedule for the 600M tokens not included in this offering?
Of the 800 million total token supply, 600 million tokens (75%) are subject to a structured five-year vesting framework to ensure long-term alignment and market stability. Treasury and partner tokens follow a linear monthly vesting schedule over 60 months, with a 12-month cliff period before any tokens begin to unlock.
— What blockchain will ALKN be issued on?
ALKN will be issued on the Liquid Network, a Bitcoin layer-2 solution, using the Blockstream AMP platform. This technology enables the management of regulated securities by allowing the issuer to maintain a whitelist of accounts that have completed mandatory KYC/AML checks. This ensures that only compliant, eligible investors can hold or transact ALKN tokens.
— What are the risks associated with ALKN?
As with any investment, there are risks involved. Investors should carefully review the comprehensive "Risk Factors" section detailed in the official Relevant Information Document and other offering materials.
— Who is the regulator overseeing this listing?
The primary offering has been approved by the National Digital Asset Commission (CNAD) of El Salvador, under which ALKN is registered as a digital asset.
— Where can I learn more about the offering?
Edison Research has also compiled an independent report on the ALKN offering, which includes detailed risk analysis. The report can be accessed here.
If you have any questions please feel free to contact Bitfinex Support for further assistance.