ALEX (ALEX Lab) is a verified DeFi protocol on Bitcoin (via Stacks) that raised ~$15.8M and historically held $200M+ TVL. However, the project recently suffered a major security exploit (~$4M-$8M loss), causing its token and TVL to collapse (-99%). The submission itself is of extremely low quality, containing hyperbolic claims ('most people have used my product') and inaccuracies, though the underlying technology is legitimate and innovative. The score reflects a 'distressed asset'—high technical innovation and market timing, but severely damaged traction and trust.
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