Ammalgam
DeFi · Decentralized Lending+1Token Transparency Filing
Project & Team
Description of Project
Provide a concise narrative that clearly states each of (a)–(e) below.
- (a) Problem the project solves — The problem the project is solving.
- (b) Operational priorities — Provide a high-level description of how the project expects to support ongoing development and operations over time.
- (c) High-level project overview — How the project works at a high level.
- (d) Primary token functions — The primary functions of the token (e.g. gov participation).
- (e) Control surface reliance — If any, briefly describe the anticipated or possible evolution of the protocol's governance/control model.
(a) Problem the project solves
Ammalgam addresses capital inefficiency and fragmentation across DeFi trading, lending, and liquidity strategy deployment. In many DeFi venues, liquidity is split between separate DEX pools, lending markets, and trading venues, which limits capital efficiency and makes long-tail liquidity harder to support.
(b) Operational priorities
Ammalgam expects to support ongoing development and operations through protocol revenue generated from lending fees. Ammalgam does not charge swap fees. The current revenue model is based on a 10% protocol fee on interest accumulated through borrowing activity.
(c) High-level project overview
Ammalgam is a decentralized exchange and lending protocol that combines trading, borrowing, and liquidity strategy deployment into one system. Its DLEX product lets the same liquidity support multiple uses: users can trade assets, borrow against liquidity, and deploy a range of strategies, including short/long strategies, market making, delta-neutral market making, straddles, calls, and puts.
(d) Primary token functions
AMG is expected to accrue value from growth of the protocol and revenue created from protocol fees on interest. Staking is planned, but it will not be active at TGE. In the future, Ammalgam expects to develop a staking model to reward long-term stakeholders.
(e) Control surface reliance
Ammalgam DAO does not currently exist. Ammalgam has not yet outlined governance or voting rights for token holders and will publish updates on social media and in its documentation if this changes.
Known Project Team
For each existing entity: Labs/DevCo (e.g., Founder, CEO, CTO, COO), Foundation (e.g., President, Executive Director, CFO, COO), and DAO / onchain governance leadership (if applicable) list the: (a) full names, (b) official titles, (c) and prior experience of key team members. For any non-existent entity, explicitly mention it does not exist. External links may be included but they will not factor into the score.
Labs / DevCo
Full Name | Official Title | Prior Experience |
|---|---|---|
William Fey | Founder | Theoretical Mathematician; Self-taught engineer writing trading bots on GDAX; Engineer on the scalability team at Xandr, acquired by Microsoft in 2022 |
Foundation
Full Name | Official Title | Prior Experience |
|---|---|---|
Pedro Luis Zapata Vega | Dignitaries | Lawyer - Civil and Commercial Litigation at Pacifica Legal |
Cristine Victoria Santamaria Guerra | Dignitaries | Lawyer - Founding Attorney at Re-legal |
DAO / Onchain Governance
Full Name | Official Title | Prior Experience |
|---|---|---|
No DAO | No DAO | No DAO |
DAO Structure
Provide a structured description of the DAO's governance, powers, and economic rights. If a DAO does not exist, state so. Address the lettered items below. Even if there is no DAO, there must be an answer to (d).
- (a) IP ownership & control — State what IP the DAO owns or controls (e.g., codebases/repos, trademarks/brands). Note any license if relevant.
- (b) Contract/admin powers — List on-chain or administrative authorities and limits: pause/upgrade roles (e.g., multisig pause), governance-executor authorities, and the method of authority for each (e.g., veto, majority, super-majority).
- (c) Locked-token rights (conditional) — If locking/staking for additional rights exists, explain the additional rights and what tokenholders can and cannot decide. If no locking mechanism exists, leave absent.
- (d) Value accrual & holder rights — If any, describe the current rights of tokenholders over revenue distribution and the treasury.
- (e) Dissolution authority — State who can dissolve/wind up the DAO and by what mechanism (e.g., on-chain vote threshold, board resolution of a legal wrapper).
(a) IP ownership & control
There is no Ammalgam DAO.
(b) Contract/admin powers
There is no Ammalgam DAO.
(c) Locked-token rights (conditional)
There is no Ammalgam DAO.
(d) Value accrual & holder rights
AMML is expected to accrue value from growth of the protocol and revenue created from protocol fees on interest. Ammalgam has not yet outlined any governance or voting rights of token holders. Ammalgam will make updates on social media and in its docs when this changes
(e) Dissolution authority
There is no Ammalgam DAO.
Primary Foundation
For the Primary Foundation do the following independently. If an entity does not exist, state that explicitly. Items (a)–(f) apply only if that entity exists; state explicitly that the entity doesn't exist. Definitions: The primary Foundation and DevCo can be explained as those entities which are directly involved in the issuance of the native token at launch.
- (a) Entity — Type and jurisdiction.
- (b) IP ownership & control — What IP the entity owns/controls (repos/code, trademarks/brand; license optional) and an explanation of any subsidiary entities.
- (c) Powers over DAO, treasury, protocol-controlled resources, and token administration — If any, describe the current powers over DAO governance, treasury actions, protocol-controlled resources (e.g. revenue), token administration, or reward parameters, and the method/threshold for each.
- (d) Powers over DevCo — Explain whether the foundation can exert direct or indirect influence over decision-making of the DevCo.
- (e) Contract/admin powers — Pause/upgrade/governance-executor authorities and the method/threshold for each (e.g., veto/majority/super-majority; "3/5 multisig").
- (f) Current economic arrangements and distribution policies — Describe any current governance-approved, contractual, or programmatic mechanisms, if any, by which protocol-controlled resources, treasury assets, fees, revenue, rewards, or token distributions may be directed to this entity, its equityholders, contributors, or other participants. If no such mechanism currently exists, state that explicitly. Do not discuss hypothetical future dividends, repurchases, or distributions unless formally adopted.
(a) Entity
DLEX Foundation is a foundation in Panama. It is separate from Ammalgam Labs.
(b) IP ownership & control
Ammalgam Labs PTE. LTD. owns all technical IP and allows it to be licensed by DLEX Foundation for use.
(c) Powers over DAO, treasury, protocol-controlled resources, and token administration
There is no Ammalgam DAO.
(d) Powers over DevCo
Ammalgam Labs is a software development and technical service provider to DLEX Foundation.
(e) Contract/admin powers
Foundation wallets have 5 signers across the core team and the Foundation.
(f) Current economic arrangements and distribution policies
The Panama Foundation is paid in fiat and has not received revenue to date.
Primary Dev Co
For the Primary DevCo do the following independently. If an entity does not exist, state that explicitly. Items (a)–(f) apply only if that entity exists; state explicitly that the entity doesn't exist. Definitions: The primary Foundation and DevCo can be explained as those entities which are directly involved in the issuance of the native token at launch.
- (a) Entity — Type and jurisdiction.
- (b) IP ownership & control — What IP the entity owns/controls (repos/code, trademarks/brand; license optional) and an explanation of any subsidiary entities.
- (c) Powers over DAO, treasury, protocol-controlled resources, and token administration — If any, describe the current powers over DAO governance, treasury actions, protocol-controlled resources (e.g. revenue), token administration, or reward parameters, and the method/threshold for each.
- (d) Powers over Foundation — Explain whether the DevCo can exert direct or indirect influence over decision-making of the Foundation.
- (e) Contract/admin powers — Pause/upgrade/governance-executor authorities and the method/threshold for each (e.g., veto/majority/super-majority; "3/5 multisig").
- (f) Current economic arrangements and distribution policies — Describe any current governance-approved, contractual, or programmatic mechanisms, if any, by which protocol-controlled resources, treasury assets, fees, revenue, rewards, or token distributions may be directed to this entity, its equityholders, contributors, or other participants. If no such mechanism currently exists, state that explicitly. Do not discuss hypothetical future dividends, repurchases, or distributions unless formally adopted.
(a) Entity
Ammalgam Labs PTE. LTD. is registered in Singapore.
(b) IP ownership & control
Ammalgam Labs PTE. LTD. owns all technical IP and allows it to be licensed by DLEX Foundation for use.
(c) Powers over DAO, treasury, protocol-controlled resources, and token administration
There is no Ammalgam DAO.
(d) Powers over Foundation
Ammalgam Labs is a software development and technical service provider to DLEX Foundation.
(e) Contract/admin powers
Ammalgam Labs does not have admin powers over the protocol, although some members of the team have individual agreements with the Foundation to act as signers on Foundation wallets.
(f) Current economic arrangements and distribution policies
Ammalgam Labs is a software development and technical service provider and pays employees in fiat.
Token Supply & Allocations
Initial Allocation
Ticker | Date | Allocation Category Name | Recipient Type | Allocation % | Allocation Tokens | TGE Unlock % | TGE Unlock Tokens | Cliff Months | Cliff Unlock % | Linear Vesting Months | Cadence Months | Circulating Treatment | Notes on what each category is used for | If applicable: Contract / Wallet address |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMG | September 2022 | Investors - Pre-Seed | Pre-Seed investors | 6.25 | 62500000 | 0 | 0 | 12 | 25 | 18 | N/A | Excluded from circulating supply until tokens unlock or vest. | Pre-Seed investor allocation. Round total: purchase amount $750,000.00, post-money valuation cap $12,000,000.00, equity/token allocation 6.25%, tokens 62500000. Used for private investor financing / capital raised. Vesting: 0% at TGE, 1-year lock, 25% cliff unlock, then remaining tokens linear over 1.5 years. Investor details: Jordan | Entity: Bodhi Group LLC | SAFE Date: N/A | Purchase: $100,000.00 | Val Cap: $12,000,000.00 | Equity: 0.83% | Tokens: 8333333 | Token %: 0.83% | Token Warrant: Yes; Kain | Entity: N/A | SAFE Date: N/A | Purchase: $100,000.00 | Val Cap: $12,000,000.00 | Equity: 0.83% | Tokens: 8333333 | Token %: 0.83% | Token Warrant: Yes; Ryon | Entity: ZK Enpachi Foundation | SAFE Date: N/A | Purchase: $50,000.00 | Val Cap: $12,000,000.00 | Equity: 0.42% | Tokens: 4166667 | Token %: 0.42% | Token Warrant: Yes; Patricia & David | Entity: David Hatfield | SAFE Date: N/A | Purchase: $50,000.00 | Val Cap: $12,000,000.00 | Equity: 0.42% | Tokens: 4166667 | Token %: 0.42% | Token Warrant: Yes; Kevin Zhou | Entity: Keren Zhou (Galois Capital) | SAFE Date: N/A | Purchase: $50,000.00 | Val Cap: $12,000,000.00 | Equity: 0.42% | Tokens: 4166667 | Token %: 0.42% | Token Warrant: Yes; Santiago Roel Santos | Entity: SRS Investment Holdings Limited | SAFE Date: N/A | Purchase: $50,000.00 | Val Cap: $12,000,000.00 | Equity: 0.42% | Tokens: 4166667 | Token %: 0.42% | Token Warrant: Yes; Teck & Shawn | Entity: Prime Factor Limited (Gnosis DAO) | SAFE Date: N/A | Purchase: $50,000.00 | Val Cap: $12,000,000.00 | Equity: 0.42% | Tokens: 4166667 | Token %: 0.42% | Token Warrant: Yes; Anton Bukov | Entity: Anton Bukov | SAFE Date: N/A | Purchase: $33,333.00 | Val Cap: $12,000,000.00 | Equity: 0.28% | Tokens: 2777750 | Token %: 0.28% | Token Warrant: Yes; Mikhail Melnik | Entity: Mikhail Melnik | SAFE Date: N/A | Purchase: $33,333.00 | Val Cap: $12,000,000.00 | Equity: 0.28% | Tokens: 2777750 | Token %: 0.28% | Token Warrant: Yes; Sergej Kunz | Entity: Sergej Kunz | SAFE Date: N/A | Purchase: $33,333.00 | Val Cap: $12,000,000.00 | Equity: 0.28% | Tokens: 2777750 | Token %: 0.28% | Token Warrant: Yes; Hameed | Entity: N/A | SAFE Date: N/A | Purchase: $30,000.00 | Val Cap: $12,000,000.00 | Equity: 0.25% | Tokens: 2500000 | Token %: 0.25% | Token Warrant: Yes; Jon Glendinning | Entity: N/A | SAFE Date: N/A | Purchase: $25,000.00 | Val Cap: $12,000,000.00 | Equity: 0.21% | Tokens: 2083333 | Token %: 0.21% | Token Warrant: Yes; Carlos | Entity: Carlos M. Oliveira | SAFE Date: N/A | Purchase: $25,000.00 | Val Cap: $12,000,000.00 | Equity: 0.21% | Tokens: 2083333 | Token %: 0.21% | Token Warrant: Yes; Joe Zeal Capital | Entity: Zeal Capital Aya Fund LLC - Fennikusu | SAFE Date: N/A | Purchase: $25,000.00 | Val Cap: $12,000,000.00 | Equity: 0.21% | Tokens: 2083333 | Token %: 0.21% | Token Warrant: Yes; Tarun/Robert | Entity: Robot Ventures Fund III, LP | SAFE Date: N/A | Purchase: $25,000.00 | Val Cap: $12,000,000.00 | Equity: 0.21% | Tokens: 2083333 | Token %: 0.21% | Token Warrant: Yes; Andrew | Entity: Andrew Schmidt | SAFE Date: N/A | Purchase: $25,000.00 | Val Cap: $12,000,000.00 | Equity: 0.21% | Tokens: 2083333 | Token %: 0.21% | Token Warrant: Yes; Jake | Entity: N/A | SAFE Date: N/A | Purchase: $25,000.00 | Val Cap: $12,000,000.00 | Equity: 0.21% | Tokens: 2083333 | Token %: 0.21% | Token Warrant: Yes; Will | Entity: Betting Pascal LLC | SAFE Date: N/A | Purchase: $10,001.00 | Val Cap: $12,000,000.00 | Equity: 0.08% | Tokens: 833417 | Token %: 0.08% | Token Warrant: Yes; Ashley | Entity: Ashley Belle Co. | SAFE Date: N/A | Purchase: $10,000.00 | Val Cap: $12,000,000.00 | Equity: 0.08% | Tokens: 833333 | Token %: 0.08% | Token Warrant: Yes | N/A |
AMG | March 2024 | Investors - Seed | Seed investors | 12.50 | 125000000 | 0 | 0 | 12 | 25 | 18 | N/A | Excluded from circulating supply until tokens unlock or vest. | Seed investor allocation. Round total: purchase amount $2,500,000.00, post-money valuation cap $20,000,000.00, equity/token allocation 12.50%, tokens 125000000. Used for private investor financing / capital raised. Vesting: 0% at TGE, 1-year lock, 25% cliff unlock, then remaining tokens linear over 1.5 years. Investor details: Framework | Entity: FRAMEWORK VENTURES III LP / PARALLEL LP | SAFE Date: Mar 22 2024 | Purchase: $250,000.00 | Val Cap: $20,000,000.00 | Equity: 1.25% | Tokens: 12500000 | Token %: 1.25% | Token Warrant: Yes; Faction | Entity: LIGHTSPEED FACTION FUND I, LP | SAFE Date: Mar 22 2024 | Purchase: $250,000.00 | Val Cap: $20,000,000.00 | Equity: 1.25% | Tokens: 12500000 | Token %: 1.25% | Token Warrant: Yes; Dewhales | Entity: N/A | SAFE Date: N/A | Purchase: $223,000.00 | Val Cap: $20,000,000.00 | Equity: 1.12% | Tokens: 11150000 | Token %: 1.12% | Token Warrant: Yes; CSP DAO | Entity: Digital Consensus Fund S.A. | SAFE Date: Apr 4 2024 | Purchase: $150,000.00 | Val Cap: $20,000,000.00 | Equity: 0.75% | Tokens: 7500000 | Token %: 0.75% | Token Warrant: Yes; BFF | Entity: BFF II PTE. LTD. | SAFE Date: Apr 3 2024 | Purchase: $150,000.00 | Val Cap: $20,000,000.00 | Equity: 0.75% | Tokens: 7500000 | Token %: 0.75% | Token Warrant: Yes; Nabais Capital | Entity: Miguel Nabais | SAFE Date: Apr 1 2024 | Purchase: $120,000.00 | Val Cap: $20,000,000.00 | Equity: 0.60% | Tokens: 6000000 | Token %: 0.60% | Token Warrant: Yes; Moonrock | Entity: Moonrock GmbH & Co. KG | SAFE Date: Apr 1 2024 | Purchase: $100,000.00 | Val Cap: $20,000,000.00 | Equity: 0.50% | Tokens: 5000000 | Token %: 0.50% | Token Warrant: Yes; Marc Two Prime | Entity: Marc Jean Jose Fleury | SAFE Date: Apr 1 2024 | Purchase: $100,000.00 | Val Cap: $20,000,000.00 | Equity: 0.50% | Tokens: 5000000 | Token %: 0.50% | Token Warrant: Yes; illlefr4u | Entity: Alexey Karpenko Zlobin | SAFE Date: N/A | Purchase: $100,000.00 | Val Cap: $20,000,000.00 | Equity: 0.50% | Tokens: 5000000 | Token %: 0.50% | Token Warrant: Yes; Robot Ventures | Entity: Robot Ventures Fund III, LP | SAFE Date: Apr 2 2024 | Purchase: $100,000.00 | Val Cap: $20,000,000.00 | Equity: 0.50% | Tokens: 5000000 | Token %: 0.50% | Token Warrant: Yes; WAGMI Ventures | Entity: WAGMI 99 - WAGMI Master LLC | SAFE Date: Apr 10 2024 | Purchase: $100,000.00 | Val Cap: $20,000,000.00 | Equity: 0.50% | Tokens: 5000000 | Token %: 0.50% | Token Warrant: Yes; Contango | Entity: N/A | SAFE Date: N/A | Purchase: $75,000.00 | Val Cap: $20,000,000.00 | Equity: 0.38% | Tokens: 3750000 | Token %: 0.38% | Token Warrant: Yes; Selini | Entity: SLN Capital Limited | SAFE Date: Apr 4 2024 | Purchase: $75,000.00 | Val Cap: $20,000,000.00 | Equity: 0.38% | Tokens: 3750000 | Token %: 0.38% | Token Warrant: Yes; NGC Ventures | Entity: NGC Metaverse Ventures LP / Metaverse Partners Ltd. | SAFE Date: May 9 2024 | Purchase: $60,000.00 | Val Cap: $20,000,000.00 | Equity: 0.30% | Tokens: 3000000 | Token %: 0.30% | Token Warrant: Yes; Polkastarter | Entity: N/A | SAFE Date: N/A | Purchase: $50,000.00 | Val Cap: $20,000,000.00 | Equity: 0.25% | Tokens: 2500000 | Token %: 0.25% | Token Warrant: Yes; Connectico Capital | Entity: N/A | SAFE Date: N/A | Purchase: $50,000.00 | Val Cap: $20,000,000.00 | Equity: 0.25% | Tokens: 2500000 | Token %: 0.25% | Token Warrant: Yes; Bodhi | Entity: Bodhi Group LLC | SAFE Date: N/A | Purchase: $50,000.00 | Val Cap: $20,000,000.00 | Equity: 0.25% | Tokens: 2500000 | Token %: 0.25% | Token Warrant: Yes; Founderheads | Entity: GRASP4FUTURE, UNIPESSOAL, LDA | SAFE Date: N/A | Purchase: $50,000.00 | Val Cap: $20,000,000.00 | Equity: 0.25% | Tokens: 2500000 | Token %: 0.25% | Token Warrant: Yes; Alex Blume Two Prime | Entity: Alexander Blume | SAFE Date: Apr 1 2024 | Purchase: $50,000.00 | Val Cap: $20,000,000.00 | Equity: 0.25% | Tokens: 2500000 | Token %: 0.25% | Token Warrant: Yes; Tomas Wolfram | Entity: N/A | SAFE Date: N/A | Purchase: $50,000.00 | Val Cap: $20,000,000.00 | Equity: 0.25% | Tokens: 2500000 | Token %: 0.25% | Token Warrant: Yes; 0XMacro | Entity: Optilistic Labs Inc | SAFE Date: Apr 1 2024 | Purchase: $50,000.00 | Val Cap: $20,000,000.00 | Equity: 0.25% | Tokens: 2500000 | Token %: 0.25% | Token Warrant: Yes; 1inch Anton | Entity: Anton Bukov | SAFE Date: Apr 5 2024 | Purchase: $50,000.00 | Val Cap: $20,000,000.00 | Equity: 0.25% | Tokens: 2500000 | Token %: 0.25% | Token Warrant: Yes; 1inch Mikhail | Entity: Mikhail Melnik | SAFE Date: Apr 5 2024 | Purchase: $50,000.00 | Val Cap: $20,000,000.00 | Equity: 0.25% | Tokens: 2500000 | Token %: 0.25% | Token Warrant: Yes; Hyperrithm | Entity: N/A | SAFE Date: N/A | Purchase: $50,000.00 | Val Cap: $20,000,000.00 | Equity: 0.25% | Tokens: 2500000 | Token %: 0.25% | Token Warrant: Yes; Tony Gu NGC | Entity: N/A | SAFE Date: N/A | Purchase: $47,000.00 | Val Cap: $20,000,000.00 | Equity: 0.24% | Tokens: 2350000 | Token %: 0.24% | Token Warrant: Yes; Black Yoda | Entity: KDM Research LTD | SAFE Date: Apr 1 2024 | Purchase: $30,000.00 | Val Cap: $20,000,000.00 | Equity: 0.15% | Tokens: 1500000 | Token %: 0.15% | Token Warrant: Yes; Spencer Noon | Entity: 1ofi LLC | SAFE Date: Apr 5 2024 | Purchase: $25,000.00 | Val Cap: $20,000,000.00 | Equity: 0.13% | Tokens: 1250000 | Token %: 0.13% | Token Warrant: Yes; Dr Carsten Wenzel | Entity: Nordhill Invest Partnership LP | SAFE Date: N/A | Purchase: $25,000.00 | Val Cap: $20,000,000.00 | Equity: 0.13% | Tokens: 1250000 | Token %: 0.13% | Token Warrant: Yes; Nate Two Prime | Entity: Nathan Cox | SAFE Date: Apr 1 2024 | Purchase: $10,000.00 | Val Cap: $20,000,000.00 | Equity: 0.05% | Tokens: 500000 | Token %: 0.05% | Token Warrant: Yes; Airtx | Entity: N/A | SAFE Date: N/A | Purchase: $10,000.00 | Val Cap: $20,000,000.00 | Equity: 0.05% | Tokens: 500000 | Token %: 0.05% | Token Warrant: Yes | N/A |
AMG | January 2025 | Investors - Echo | Echo investors | 0.43 | 4285714 | 0 | 0 | 12 | 25 | 18 | N/A | Excluded from circulating supply until tokens unlock or vest. | Echo investor allocation. Round total: purchase amount $150,000.00, post-money valuation cap $35,000,000.00, equity/token allocation 0.43%, tokens 4285714. Used for private investor financing / capital raised. Vesting: 0% at TGE, 1-year lock, 25% cliff unlock, then remaining tokens linear over 1.5 years. Investor details: Echo SPV | Entity: Ammalgam PC Ltd | SAFE Date: Dec 18 2024 | Purchase: $150,000.00 | Val Cap: $35,000,000.00 | Equity: 0.43% | Tokens: 4285714 | Token %: 0.43% | Token Warrant: Yes | N/A |
AMG | Ongoing | Investors - Bridge | Bridge investors | 1.10 | 11000000 | 0 | 0 | 12 | 25 | 18 | N/A | Excluded from circulating supply until tokens unlock or vest. | Bridge investor allocation. Round total: purchase amount $550,000.00, post-money valuation cap $50,000,000.00, equity/token allocation 1.10%, tokens 11000000. Used for private investor financing / capital raised. Vesting: 0% at TGE, 1-year lock, 25% cliff unlock, then remaining tokens linear over 1.5 years. Investor details: Sonic Operations | Entity: Sonic Operations Ltd (Cayman) | SAFE Date: Aug 1 2025 | Purchase: $200,000.00 | Val Cap: $50,000,000.00 | Equity: 0.40% | Tokens: 4000000 | Token %: 0.40% | Token Warrant: Yes; WAWGD | Entity: WAWGD TECHNOLOGY FZE | SAFE Date: Aug 11 2025 | Purchase: $100,000.00 | Val Cap: $50,000,000.00 | Equity: 0.20% | Tokens: 2000000 | Token %: 0.20% | Token Warrant: Yes; LegendsGroup | Entity: LegendsGroup LLC (OTOCO DE LLC) | SAFE Date: Dec 15 2025 | Purchase: $90,000.00 | Val Cap: $50,000,000.00 | Equity: 0.18% | Tokens: 1800000 | Token %: 0.18% | Token Warrant: Yes; James Maricondo | Entity: James Robert Maricondo | SAFE Date: Oct 7 2025 | Purchase: $50,000.00 | Val Cap: $50,000,000.00 | Equity: 0.10% | Tokens: 1000000 | Token %: 0.10% | Token Warrant: Yes; Shihab | Entity: Shihab Kozhikkal Madathil | SAFE Date: N/A | Purchase: $50,000.00 | Val Cap: $50,000,000.00 | Equity: 0.10% | Tokens: 1000000 | Token %: 0.10% | Token Warrant: Yes; SF Amalgam | Entity: SF Amalgam LLC | SAFE Date: Oct 31 2025 | Purchase: $25,000.00 | Val Cap: $50,000,000.00 | Equity: 0.05% | Tokens: 500000 | Token %: 0.05% | Token Warrant: Yes; Samuel Harcourt | Entity: Samuel Harcourt | SAFE Date: N/A | Purchase: $25,000.00 | Val Cap: $50,000,000.00 | Equity: 0.05% | Tokens: 500000 | Token %: 0.05% | Token Warrant: Yes; Schedule I Ventures | Entity: SCHEDULE I VENTURES | SAFE Date: N/A | Purchase: $10,000.00 | Val Cap: $50,000,000.00 | Equity: 0.02% | Tokens: 200000 | Token %: 0.02% | Token Warrant: Yes | N/A |
AMG | N/A | Team | Team / core contributors | 24.40 | 244000000 | 0 | 0 | 12 | 25 | 36 | N/A | Excluded from circulating supply until tokens unlock or vest. | Team allocation. Used for founders, employees, and core contributors. Vesting: 0% at TGE, 1-year lock, 25% cliff unlock, then remaining tokens linear over 3 years. | N/A |
AMG | N/A | Advisors | Advisors | 1.12 | 11200000 | 0 | 0 | 12 | 25 | 18 | N/A | Excluded from circulating supply until tokens unlock or vest. | Advisor allocation. Used for advisors. Vesting: 0% at TGE, 1-year lock, 25% cliff unlock, then remaining tokens linear over 1.5 years. | N/A |
AMG | N/A | Foundation / Treasury | Foundation / Treasury | 30.00 | 300000000 | N/A | N/A | N/A | N/A | 60 | N/A | Excluded from circulating supply until unlocked, vested, or distributed. | Foundation / Treasury allocation. Used for long-term protocol treasury, foundation operations, reserves, ecosystem support, grants, partnerships, liquidity, audits, service providers, and runway where applicable. Unlock schedule provided: linear unlock over 5 years, with the goal of spreading this out to 10 years. Exact TGE unlock, cliff, cadence, and contract/wallet address not provided. | N/A |
AMG | N/A | Community | Community / ecosystem | 24.20 | 242000000 | 20 | 48400000 | 0 | 0 | 24 | N/A | 20% circulating at TGE; remaining tokens enter circulating supply as unlocked or distributed. | Community allocation. Used for community incentives, user rewards, ecosystem growth, grants, campaigns, liquidity or other community distribution programs where applicable. Vesting: 20% at TGE, then remaining tokens linear over 2 years. | N/A |
Airdrop Process
Address each of the following sub-items based on the project's airdrop status. If a sub-item does not apply to the project's situation, state that explicitly.
- (a) Planned but not yet executed airdrop — If the project has planned but not yet airdropped, commit to publishing a recipient wallet list in a public channel and provide it to Blockworks quarterly until the initial TGE airdrop is fully completed. Additionally, generally state the possible target user segments (e.g., "stakers of X," "Aave users") and the allocation method (e.g., proportional to ve-balance or net position).
- (b) Executed airdrop — If the project has already airdropped, point to a per-address source such as CSV/TSV/JSON files, a Dune table, a full Merkle dump, GitHub repo files embedding per-address allocations, or RPC endpoints that expose claim/amount data; explorer links alone do not count. Additionally, clearly state covered user segments (e.g., "stakers of X," "Aave users") and the allocation method (e.g., proportional to ve-balance or net position).
- (c) No airdrop planned or conducted — If the project does not plan to conduct an airdrop for TGE and has never conducted one, state so plainly (e.g., "We have never conducted an airdrop to date and do not plan to execute one").
(a) Planned but not yet executed airdrop
Ammalgam has not conducted an airdrop and does not currently plan an airdrop for TGE. Incentives will be distributed to liquidity providers from the Community allocation.
(b) Executed airdrop
Ammalgam has not conducted an airdrop and does not currently plan an airdrop for TGE. Incentives will be distributed to liquidity providers from the Community allocation.
(c) No airdrop planned or conducted
Ammalgam has not conducted an airdrop and does not currently plan an airdrop for TGE. Incentives will be distributed to liquidity providers from the Community allocation.
Transactions & Market Structures
Market Maker Agreements & Deals
Projects must disclose all material terms of market-making arrangements that affect token liquidity. If the project has no agreements or deals with market makers, state that explicitly; doing so earns full credit. For each market maker, include in a table: (a) Market maker's name — the market maker's name; (b) Token allocation or loaned amount — the token allocation or loaned amount as a percentage of total supply; (c) Duration/term of agreement — the duration/term of the agreement; and, where applicable, (d) Name of agreement structure — label the financial vehicle being used in the agreement (i.e. loan, option/call, retainer model) without describing trading strategy or expected outcomes. If the project has no agreements or deals with market makers, state that explicitly; doing so earns full credit. If no native tokens were loaned or allocated to market makers, state that explicitly; cash/fiat retainers or fees are not required for this item.
Market Maker Name | Token Allocation Committed | Term Duration | Structure Name |
|---|---|---|---|
No market maker agreements | No market maker agreements | No market maker agreements | No market maker agreements |
CEX / DEX Agreements & Deals
Projects must disclose all material terms of centralized or decentralized exchange listings that affect token liquidity. For each listing, include in a table: (a) Exchange name / DEX pool — the exchange name (and, for DEX, the specific pool/pair); (b) Token allocation for listing — the token allocation supplied or committed for listing as a percentage of total supply; (c) Term Duration — the duration/term of any listing lockups, liquidity, or incentive programs; and, where applicable, (d) Native-token listing fees — whether any listing fees were paid in native tokens, with amounts (tokens or % of supply), recipients, and any vesting or lock terms tied to the partnership. If the project has no agreements or deals with CEX or DEX, state that explicitly; doing so earns full credit; cash/fiat fee amounts are not required for this item.
Exchange Name | Token Allocation Committed | Term Duration | Native Token Listing Fees |
|---|---|---|---|
no CEX or native-token listing fee agreements | no CEX or native-token listing fee agreements | no CEX or native-token listing fee agreements | no CEX or native-token listing fee agreements |
Financial Disclosures & Risks
Prior Token Sales & Fundraising
Disclose all prior token sales by the Project — including fundraising rounds, any material OTC sales to investors, and any discounted market-maker sales. For each sale, provide: (a) Series Name; (b) Early-Stage Investment Instrument used (i.e. SAFT, STAMP, SAFE, SAFE+Token Warrant, etc.); (c) Date of sale (at least month & year); (d) Number of tokens sold (or % of total supply); (e) Vesting schedule. If no prior sales occurred, state that explicitly (e.g., "No prior fundraising, OTC, or discounted MM sales have occurred.").
Series Name | Investment Vehicle | Date Of Sale | Number of tokens sold | Vesting Schedule |
|---|---|---|---|---|
Pre-seed | SAFE + Token Warrant | September 2022 | 62,500,000 / 6.25% | 0% at TGE; 1-year lock; 25% unlock; remaining linear over 1.5 years |
Seed | SAFE + Token Warrant | March 2024 | 125,000,000 / 12.50% | 0% at TGE; 1-year lock; 25% unlock; remaining linear over 1.5 years |
Echo | SAFE + Token Warrant | January 2025 | 4,285,714 / 0.43% | 0% at TGE; 1-year lock; 25% unlock; remaining linear over 1.5 years |
Bridge | SAFE + Token Warrant | Ongoing | 11,000,000 / 1.10% | 0% at TGE; 1-year lock; 25% unlock; remaining linear over 1.5 years |
Previous Exploits Affecting The Native Token
If any, list prior exploits or incidents that directly affected the token, token supply, tokenholder balances, token contract, minting controls, burn mechanics, or custody of token supply. This question is not asking about general protocol, application, or smart contract exploits unless the incident directly affected the native token itself. If no prior incidents, state this explicitly (e.g., "No exploits affecting tokenholders or protocol funds as of YYYY-MM-DD").
- (a) Date & component affected — Date (YYYY-MM or YYYY-MM-DD), chain(s)/component affected.
- (b) Exploit vector summary — Plain-language summary of the exploit vector (what the hack was).
- (c) Quantified impact — Quantified impact (assets/tokens affected or a clear "no loss of funds" statement).
- (d) Remediation/response taken — Remediation/response taken (patches, upgrades, governance actions, compensation).
- (e) Current status — Current status (resolved, in litigation, under investigation, refunded, etc.).
- (f) References (optional) — Link(s) to post-mortem/advisory/PR.
(a) Date & component affected
No exploits affecting tokenholders or protocol funds have occurred as of 2026-07-01.
(b) Exploit vector summary
No exploits affecting tokenholders or protocol funds have occurred as of 2026-07-01.
(c) Quantified impact
No exploits affecting tokenholders or protocol funds have occurred as of 2026-07-01.
(d) Remediation/response taken
No exploits affecting tokenholders or protocol funds have occurred as of 2026-07-01.
(e) Current status
No exploits affecting tokenholders or protocol funds have occurred as of 2026-07-01.
(f) References (optional)
No exploits affecting tokenholders or protocol funds have occurred as of 2026-07-01.
Material Risk Factors (Regulation, Technology, Token Economics)
Describe material risk factors across the three categories below. Each category includes prompts to address at a minimum.
- (a) Regulatory, Legal & Tax Risks — Describe how evolving laws and regulations could affect the project by answering, at a minimum, questions like:
- Impact of Regulatory Change on TGE and Listings: (If applicable) How could evolving or conflicting laws and regulations affect your ability to complete the TGE, deliver tokens to purchasers, and list or maintain the token on trading venues in key jurisdictions?
- Entity-Level Regulatory Impact: (If applicable) How could regulatory or legal changes impact your core entities (Foundation, DevCo, DAO, affiliated service providers), including enforcement actions, licensing requirements, or forced changes to structure or operations?
- Tokenholder Tax Treatment: (If applicable) What uncertainties exist around how tokenholders may be taxed, and make clear that tokenholders are responsible for understanding their own tax obligations?
- Jurisdictional & User Access Restrictions: (If applicable) If the project restricts access for certain jurisdictions or user types (e.g., U.S. persons, sanctioned countries, retail vs. professional), what are those restrictions and what risks do they create for users and for the project?
- (b) Protocol, Technology & Security Risks — Describe risks to network and contract reliability, correctness, and safety by answering, at a minimum, questions like:
- Bugs and Design Flaws: (If applicable) What bugs, design flaws, or implementation errors could exist in your core protocol code, smart contracts, and any bridges, rollups, or oracles that you depend on, and how could these lead to loss of funds or disruption of the protocol?
- Security Measures & Their Limitations: (If applicable) What security measures have you taken (audits, formal verification, bug bounties), and what types of failures might these measures still fail to detect or prevent?
- (c) Token Economics, Unlocks & Incentive Risks — Describe how the token's economic design and supply schedule could affect holders by answering, at a minimum, questions like:
- Critical Economic Assumptions: (If applicable) Which economic assumptions (e.g., staking yields, fee revenue, liquidity incentives, MEV capture, demand for blockspace) are critical for protocol security, utility, and governance, and what happens if those assumptions fail?
- Governance Control over Monetary Policy & Rewards: (If applicable) To what extent can governance change monetary policy, fee parameters, or reward allocations (e.g., inflation rate, treasury flows, incentive programs), and how could such changes adversely affect tokenholders?
(a) Regulatory, Legal & Tax Risks
Ammalgam is a decentralized exchange and smart-contract protocol. Evolving laws or exchange requirements could affect Ammalgam’s ability to complete the TGE, deliver AMG tokens, or support listings in certain jurisdictions. Ammalgam operates through DLEX Foundation in Panama and Ammalgam Labs PTE. LTD. in Singapore. Regulatory changes could affect these entities, service-provider relationships, access restrictions, token distribution, or operating requirements. Tokenholder tax treatment may vary by jurisdiction. Tokenholders are responsible for understanding and complying with their own tax obligations. Access restrictions have not been finalized. Ammalgam intends to comply with applicable laws, including restrictions that may apply to U.S., U.K., sanctioned, or otherwise restricted users. If required, Ammalgam may restrict access to certain users or jurisdictions.
(b) Protocol, Technology & Security Risks
Ammalgam is a smart-contract protocol. Bugs, design flaws, or implementation errors in the protocol code, smart contracts, integrations, or any external dependencies could lead to loss of funds, incorrect accounting, failed transactions, or disruption of protocol activity. Ammalgam has completed security work with ChainSecurity, 0xMacro, and a Cantina audit competition. Ammalgam also uses constant AI scanning, fuzz testing with Pruvendo, and follow-up work with Phil Bugcatcher, one of the Cantina competition winners. These measures reduce risk but cannot eliminate all risk. Audits, competitions, scanners, and testing may fail to detect certain vulnerabilities, economic attacks, integration failures, or issues that appear only after deployment.
(c) Token Economics, Unlocks & Incentive Risks
AMG has a fixed supply of 1,000,000,000 tokens. Token value may depend on protocol growth, borrower-fee revenue, liquidity incentives, user adoption, and future staking demand. Staking is planned but will not be active at TGE. If protocol usage, fee revenue, liquidity, or incentive effectiveness is lower than expected, token demand and market liquidity may be negatively affected. Unlocks and incentive distributions may also increase circulating supply and create selling pressure. Ammalgam DAO does not currently exist, and tokenholder governance or voting rights have not yet been outlined. Ammalgam will publish updates if governance, staking, fee parameters, or reward allocation rights change.
This Token Transparency Filing is provided for general informational purposes only. Blockworks reviews completeness only and does not verify or warrant the accuracy of individual answers. Ammalgam is solely responsible for the content, accuracy, and legality of its disclosures.
