Thread by @AlphaFinanceLab

We'd like to share our response to the misrepresented information from @defiyield_info, as Defiyield does not fully understand the rationale which they would have had they reach out to discuss 👇

blog.alphafinance.io/response-to-a-…

1. First point on 96% of the token supply in a wallet:

This is genesis minting, generating all supply on *both* Ethereum and Binance Smart Chain. Currently, a fully decentralized cross-chain bridge does not exist at the moment so we need to rely on a more centralized approach.

1.1 The biggest holder on Ethereum (964,300,000 ALPHA) is the locked token and can only be unlocked when ALPHA token on Binance Smart Chain (BSC) is transferred to the same address. This is how cross-chain functionality can be deployed on BSC, and how ALPHA can be on both chains.

1.2 This means that the 964M on the Ethereum side is only a placeholder for when users "lock" (or send the BSC ALPHA to the Ethereum address) and “unlock” the Ethereum side.

2. Second point on minting function:

Note that screenshot they originally shared isn't from our contract. This function is for the purpose of potential protocol governance and upgrade future, and none of which will be taken solely by the team when it comes to adjusting supply

2.1 We do not expect to use this function but we remain cautious, similar to AAVE’s recent upgrade with LEND token, that there is a small possibility future governance vote may change this so we include them for greater flexibility.

3. Third point on admin key:

Similar to no. 2, this isn't new. Aave, Compound, Synthetix, & many successful projects follow this approach. These projects + ours have started more centralized to optimize for security, speed & flexibility and can react quickly if things go wrong.

3.1 With any new smart contract, there is a possibility of unexpected behavior and admin control allows the project to do damage control should a crisis happen.

3.2 Once Alpha grows to become more established and battle-tested over time, we'll continue to gradually decentralize our project similar to other projects. Decentralization is always a spectrum and our design decision at the current stage emphasizes speed, flexibility & security

@AlphaFinanceLab is **not an anonymous team**.

There is real reputation and legal risk at play, especially when we are invested by reputable firms, such as @TheSpartanGroup, @multicoincap, and @DeFianceCapital. Anonymous founders, on the other hand, don’t bear these risks.

With that being said, we'll continue to decentralize our project over time and hope this clears FUD associated with each point the tweet mentioned. We'll now focus our energy in developing Alpha products and make sure we can deliver innovative solutions to the blockchain industry

We appreciate community members being vigilant on products they are using and doing extensive research on the contracts and token structures.

We welcome all the feedback and will be working closely with community members, including @defiyield_info going forward.