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Area51 is Alien Base's Sub DEX designed for new tokens.
Area 51 is a unique space for humans to experiment with tokens that carry higher risk than the usual assets listed on Alien Base.
It was born out of a wish to bring some structure and safety to the market. Newly launched tokens, be they utility or meme, will always be very high risk. The goal of Area 51 is to at least ensure that everyone gets a fair fighting chance.
Many new pairs are created every day that are essentially scams. Usually, the tokens are honeypots: once you buy it, you can't sell it. The creators of such tokens will often generate a lot of fake activity through wash trading (repeatedly buying and selling the same amount), making it seem "legitimate".
But in a sea of scams, some tokens do become huge hits. Area 51 is the place where they can grow and experiment.
Area 51 is a Sub DEX of Alien Base. This means that its contracts are completely separate from the main Alien Base platform, as it uses a different factory and different fee settings.
Specifically, on Area 51:
- Swap fees are set to 1%
- The protocol receives an 80% share of these fees.
On this platform, users will be able to find a curated token list of assets that were verified to be rug-proof.
To be added to the platform, token teams will need to follow a stringent set of requirements:
- All owner functions must be either timelocked or placed behind a multisig shared with the Area 51 team
- The team cannot have freely available liquidity or outside tokens for more than 5% of circulating token supply. The rest must be locked for at least a month.
- The token contract cannot have any "strange" features including honeypots, self-destruct, meta transactions and others.
These requirements ensure that buyers of the token get a fair shot at trading it. In exchange, Area 51 will provide visibility to the token on the main platform, which will include statistics and a token list integration.
As a Sub DEX, Area 51 retains connections to Alien Base in two ways:
- The DAO of token holders will receive all Area 51 fees at no cost (Area 51 tokens will never have ALB emissions)
- Successful token on Area 51 might be able to "graduate" to the main platform to secure further liquidity through ALB emissions.
- Are tokens listed on Area 51 vetted?
- Yes, we verify tokens for basic anti-scam protection to ensure that they can be meaningfully traded
- Only tokens visible directly on the frontend are vetted. As the DEX core is permissionless, anyone can create whatever token they want
- Are there guarantees for tokens on Area 51?
- The tokens are provided as-is and there are no guarantees of success. Risks include failure to achieve traction, long-term sabotage (delayed or "soft" rugging), hacks, advanced smart contract "rugging" techniques, volatility and more. The decision to trade on Area 51 is yours and yours only — always do your research first.
- What kinds of tokens will be listed on Area 51?
- Any new token (or existing microcap) is eligible to be listed on Area 51.