Alkimi Whitepaper

Executive Summary

Alkimi has built the first on-chain advertising exchange that eliminates the inefficiencies plaguing the $750 billion digital advertising market. By leveraging blockchain technology and the Sui ecosystem, Alkimi creates a transparent marketplace where advertisers save up to 40% on fees whilst publishers receive instant payments through the revolutionary Advertising Finance (AdFi) protocol. Since Q4 2023, Alkimi has demonstrated exponential growth with protocol fees increasing from $46,000 to over $510,000 in 2025, distributed directly to ALKIMI token holders. With partnerships including Coca-Cola, Publicis, Kraken, IPG, and Fox, Alkimi has proven its ability to bridge traditional advertising with decentralised finance.

The ALKIMI token captures value through AdFi benefiting from multiple revenue streams: protocol fees (3-8% of all transactions), publisher financing fees (up to 15% APY for liquidity providers), and the resulting systematic buybacks. Token holders benefit from real yields generated by actual advertising transactions, not inflationary emissions.

1. Introduction

Founded in 2021, Alkimi has built the first on-chain digital ad exchange that eliminates the opacity and excessive fees plaguing the $750 billion digital advertising market. Every transaction generates protocol fees that flow directly to ALKIMI token holders.

Starting from just over $46,000 in Q4 2023, Alkimi's quarterly protocol fees grew to $260,000 in Q4 2024 and have already exceeded $510,000 in 2025, representing over 1,009% growth in revenue that's distributed to stakers. With over 2.5 billion transactions processed and partnerships secured with global brands including Coca-Cola, Publicis, Kraken, IPG, and Fox, Alkimi has proven product-market fit whilst establishing a sustainable revenue model where each new brand partnership directly increases token holder rewards.

The strategic migration to Sui positions Alkimi to scale this revenue-generating engine, leveraging Sui's high-performance infrastructure to process millions of daily ad transactions at minimal cost, thereby maximising the protocol fees captured and distributed to ALKIMI holders whilst supporting the next phase of exponential growth in utility, efficiency, and long-term value creation across the ecosystem.

2. The $750 Billion Digital Advertising Revolution

The digital advertising ecosystem faces three critical challenges:

• Advertisers and Media Agencies lose on average 40% of media budgets paying excessive fees with zero transparency of where their ad spend actually goes.
• Publishers remain severely underpaid for ad inventory and forced to use expensive financing to cover 90-120 day payment gaps.
• DeFi Investors continue searching for sustainable yields from real-world business activity, not inflationary token emissions.

With 40% of advertising spend absorbed by intermediaries (represented by the multiple technology platforms, data providers, and service layers that sit between advertisers and publishers), both sides suffer from opaque fees, complex reconciliation processes, and payment delays, creating significant yield opportunities for ALKIMI token holders.

This opportunity represents a vast market where blockchain infrastructure eliminates inefficiencies whilst channeling captured value directly to token holders. With just 1% penetration, Alkimi would process $7.5 billion in ad spend annually. At a protocol fee of 3-8%, this translates to $225-600 million in annual revenue flowing directly to ALKIMI stakers, yields generated from real business activity, not unsustainable farming rewards.

This marks just the beginning of the opportunity.

3. The Market Opportunity

The convergence of DeFi and advertising presents an untapped opportunity worth hundreds of billions of dollars, with ALKIMI token holders at the forefront of capturing this value.

By tokenising ad inventory into programmable money flows, Alkimi transforms a broken payment system into a yield-generating machine, and is already processing ~20 million ad impressions daily in 2025.

Leveraging Sui's complete technology stack, from sub-second finality to decentralised storage, Alkimi's Ad Exchange is uniquely positioned to capture value from both the advertising market and Sui's thriving ecosystem of 1 million active wallets and $2 billion in TVL.

Alkimi pioneers AdFi (Advertising Finance), (which will be covered in detail in section 4) which embodies the financialisation of advertising. With AdFi, Publishers can access instant liquidity by accepting a discount on their ad revenue earned through Alkimi's Exchange, revenue that's already higher than traditional platforms due to the significantly lower transaction fees. Fees collected are allocated towards ALKIMI token buybacks.

Through this mechanism, ALKIMI holders capture fees from both sides: 3-8% protocol fees from every transaction plus yields from liquidity provisioning. AdFi creates a powerful flywheel where more publishers drive more demand from advertisers, attracting more liquidity, improving rates, and accelerating adoption, with each rotation increasing value for token holders.

Both the advertising and DeFi markets have matured enough to support sophisticated financial products, yet remain fragmented enough for Alkimi to capture significant market share.

Three forces converge to create the perfect opportunity for AdFi; advertisers demanding transparency after decades of hidden fees, publishers desperate to boost revenue and escape crushing 90-day payment cycles, and DeFi users seeking sustainable yields backed by real business revenue.

4. Understanding AdFi: The Future of Advertising Finance

AdFi transforms the $360 billion cash flow problem in advertising into a yield-generating mechanism for ALKIMI token holders. Whilst publishers wait 90-120 days for payment, advertisers and media agencies retain capital. AdFi creates a decentralised lending market that captures value from this inefficiency.

The mechanism operates as follows:

1. Publishers gain instant liquidity against verified ad revenue earned from Alkimi's Ad Exchange.
2. ALKIMI and stablecoin holders provide the bridge liquidity.
3. Liquidity Providers earn yield from both protocol fees (3-8% of all transactions) and early payment fees (up to 15% fees per billing period from publishers).

4.1 How AdFi Works

For publishers, AdFi enables instant access to liquidity against verified ad revenue earned from selling ads via Alkimi's Ad Exchange. Smart contracts confirm delivery and payment obligations, offering early access to funds at competitive rates.

Advertisers benefit by maintaining traditional payment terms whilst utilising reduced reconciliation costs and increased transparency through on-chain payment systems.

ALKIMI and stablecoin holders provide liquidity into AdFi pools and earn genuine yields backed by completed advertising transactions.

4.2 Earning Yield with ALKIMI

AdFi creates multiple revenue streams that compound value for ALKIMI holders:

Protocol Fees (3-8%): 100% of all net protocol fees generated are distributed to ALKIMI stakers.

• Display Advertising - 3%
• Video Advertising - 5%
• Connected TV Advertising - 8%

This provides base yield from all platform activities.

Protocol Fee Structure:

Gross Ad Spend * Protocol Fee % = Gross Protocol Fee
Gross Protocol Fee - (Sui Gas + Walrus Fee) = Net Protocol Fees

Illustrative,

$1.00 * 0.05 = $0.05 Gross Protocol Fees
$0.05 - ($0.005 + $0.005) = $0.049 Net Protocol Fees

Early Payment Premium (0-15%): When publishers choose instant liquidity, they pay a fee up to 15% per billing period, depending on their preferred payment date.

Early Payment Fee Structure:

(N - ( T * D ))
*taken from the Net Ad Spend.

N (Publisher Access Fee at Day 0)
T (days after billing period)
D (Fee Reduction per day)
N = 15.00%, D = 0.25%,

Total Fee Structure (Protocol Fees + Early Payment Fee):
Example of $100 of Gross Ad Spend paid on Day 0;

Gross Ad Spend - Net Protocol Fee = Net Ad Spend -
Publishers Access Fee = Publisher Revenue on Day 0

$100 - 5% - ($95 * (15% - (0 * .25%)) = $80.75
$100 - $80.75 = $19.25 Total Fee Revenue

  Day 0: $100 - 5% - ($95 * (15% - (0 * 0.25%))) = $80.75
  Day 1: $100 - 5% - ($95 * (15% - (1 * 0.25%))) = $80.99
  Day 2: $100 - 5% - ($95 * (15% - (2 * 0.25%))) = $81.22
  Day 3: $100 - 5% - ($95 * (15% - (3 * 0.25%))) = $81.46
  Day 4: $100 - 5% - ($95 * (15% - (4 * 0.25%))) = $81.70
  … 0.25% increments …
  Day 57: $100 - 5% - ($95 * (15% - (57 * 0.25%))) = $94.29
  Day 58: $100 - 5% - ($95 * (15% - (58 * 0.25%))) = $94.53
  Day 59: $100 - 5% - ($95 * (15% - (59 * 0.25%))) = $94.76
  Day 60: $100 - 5% - ($95 * (15% - (60 * 0.25%))) = $95.00

This fee is split in three ways:

• 33.3% for systematic ALKIMI buybacks (distributed as rewards to ALKIMI stakers)
• 33.3% in stablecoins (additional yield for stablecoin liquidity providers)
• 33.3% to protocol operations (ensuring sustainable growth)

4.3. Zero Day Payments for Publishers

Publishers can convert their outstanding invoices into instant liquidity, paying up to 15% in fees to eliminate 90-day payment delays that impact cash flow.

This solution revolutionises the financing of advertising through:

• Publishers improving cash flow without factoring or bank loans
• Up to 15% fees creating sustainable yields for the ALKIMI ecosystem
• Every publisher using this feature directly increasing token holder returns

The combination of protocol fees and zero-day payments ensures ALKIMI holders earn from every transaction, whether publishers choose instant payment or not.

4.4. The AdFi Flywheel

The system operates as a reinforcing cycle. Publishers join to access early payments. As transaction volume grows, platform fees increase. This attracts more liquidity providers due to higher yields. As liquidity deepens, publishers can access greater %'s of accrued revenue earlier, encouraging further adoption. Increased volume leads to larger buybacks. Each component of AdFi accelerates accrual of value within the AdFi ecosystem:

1. Publishers Join → More advertiser spend → Increased protocol fees for stakers
2. More Volume → Larger fee pool → Higher APYs attract more liquidity
3. Deeper Liquidity → Better rates for publishers → Faster adoption
4. Increased Adoption → More buyback volume → Token price support

Example:

If 100 publishers averaging $1 million monthly volume adopt AdFi, this generates $100 million monthly flow.

At 5% average fees, this equals $5 million monthly, $60 million annually, flowing to ALKIMI holders.

If these publishers access liquidity on day 0, resulting in an additional 15% early payment fee, this could amount to $14.25 million monthly, $171 million annually flowing to ALKIMI holders. ( ($100 mil gross ad spend - 5% protocol fee) * 10% early payment fee)

Each new publisher adds more than linear value; they make the system more attractive for the next publisher, creating the framework for exponential growth. Each rotation strengthens the ecosystem and multiplies value for early participants.

5. ALKIMI Staking

The platform offers a comprehensive staking system that transforms passive holding into active yield generation, with rewards backed by real advertising transactions from the two revenue generating components of AdFi; Protocol Fees and Early Payment Fees.

5.1 Staking Structure

During the migration to Sui ALKIMI holders can choose to benefit between locked staking for enhanced rewards or flexible staking for standard fee rewards. Locked bonuses scale proportionally with commitment duration:

• 3 months: 3% bonus
• 6 months: 6% bonus
• 9 months: 9% bonus
• 12 months: 12% bonus

ALKIMI holders will be able to participate in enhanced staking for the first 30 days after the migration to Sui.

ALKIMI holders joining after the first 30 days will be eligible to earn rewards from AdFi fees.

Example:

Locking 100,000 ALKIMI for 12 months yields 12,000 additional tokens at unlock, plus proportional share of protocol fee rewards throughout the staking period. In the past, just from Protocol Fees, yields have been approximately 12% APY.

5.2 Sustainable Yield Sources

ALKIMI yield derives from verifiable revenue streams:

• Protocol Fees: 3-8% of every ad transaction
• Early Publisher Payments Fees: Up to 15% from early payment requests from publishers.

These yields stem from a growing protocol processing billions in advertising transactions, with additional bonuses rewarding long-term participation.

5.3 The 30-Day Launch Window

The initial staking period offers unique advantages. During the first 30 days from migration, all participants who stake on Alkimi Labs receive:

• Day 0 staker status regardless of entry within the first 30 days.
• Full rewards accruing from migration date.
• Holders can select a lock-up period with maximum flexibility.

Early participants and long-term stakers receive enhanced benefits.

5.4 Staking Benefits

For Token Holders: Industry-leading yields backed by real-world revenue from a multi-billion dollar market. Multiple staking strategies accommodate various risk profiles whilst delivering predictable returns.

For the Ecosystem: Aligned incentives ensure that token holder success correlates directly with platform growth. The model creates sustainable token economics that scales with adoption.

For Alkimi: A committed community of long-term supporters provides sustainable token circulation, enabling effective treasury management and market stability during the Sui migration.

6. Alkimi on Sui: Strategic Infrastructure Choice

The decision to migrate to Sui stems from both performance requirements and strategic purpose. Sui provides decentralisation, scalability, high throughput and low latency, making it ideal for real-time advertising transactions.

Sui's composability facilitates on-chain data logic, enabling verifiable and transparent payment structures. The ecosystem alignment, including strategic support from the Sui Foundation, enables Alkimi to build a unique product suite for long-term value creation for holders, advertisers and publishers.

6.1 The Full Stack Advantage

Alkimi stands as the first Sui partner to leverage the complete technology stack to deliver enterprise-grade advertising solutions with blockchain-native transparency and decentralisation.

Alkimi's full-stack integration creates competitive advantages versus Web2 infrastructure whilst delivering the performance needed to solve issues prevalent in digital advertising.

6.2 Core Technology Components

Sui's Blockchain powers Alkimi's verifiable, outcome-based transactions. Every impression, click, and conversion records immutably, providing unprecedented transparency between advertisers and publishers. This on-chain verification eliminates disputes and attracts premium advertisers willing to pay higher CPMs for transparency.

Mysticeti Consensus offers ideal performance for ad exchanges through sub-second finality (<400ms) and processing capacity of hundreds of thousands of transactions per second. This enables instantaneous bid processing, auction settlement, and impression tracking across millions of daily transactions, critical for real-time bidding (RTB) systems operating within strict 100-millisecond timeout windows.

Walrus provides cost-effective, secure, and decentralised storage handling Alkimi's requirement for massive scale, with Alkimi currently delivering over ~20 million ad impressions daily. As Alkimi expands across global publishers and brands, Walrus ensures the data infrastructure remains fast, reliable, cost-effective and secure.

Nautilus enables independent validation of ad impressions and financial reconciliation within trusted execution environments (TEEs). TEEs ensure payments based on accurate, verifiable delivery data, eliminating disputes and building trust.

Seal protects sensitive ad impression metadata through advanced encryption and access controls. With no reliance on centralised infrastructure, Seal allows Alkimi to maintain brand, publisher and audience confidentiality whilst remaining fully decentralised.

6.3 Strategic Value Creation

The migration to Sui delivers direct value to ALKIMI holders through multiple channels:

Enhanced Yield Generation: Sui's sub-second finality enables Alkimi to process millions of ad transactions daily at minimal cost. Lower costs translate directly to higher net protocol fees flowing to stakers.

Unlimited Scalability: Supporting 2+ billion annual transactions, Sui accommodates Alkimi's growth from ~20 million daily impressions to billions without network congestion impacting fee revenue.

Ecosystem Liquidity Access: Sui's 1 million active users and $2 billion TVL provide immediate access to liquidity for AdFi pools and potential new platform users.

7. What Makes Alkimi Different

Unlike token projects promising future utility, Alkimi delivers proven results today. The protocol generates $200,000+ in quarterly fees from Fortune 500 advertisers including Coca-Cola, AWS, Publicis, Kraken, and Fox, flowing directly to token holders. Whilst other DeFi protocols rely on unsustainable emissions, Alkimi's yields derive from completed advertising transactions anchored in verified, real-world business activity.

7.1 Competitive Advantages

First-Mover Advantage: As the only on-chain ad exchange processing 20 million daily impressions, Alkimi has established partnerships and proven technology that competitors would need years to replicate.

Network Effects: The platform creates a self-reinforcing growth cycle. Every publisher joining for instant payments attracts more advertisers, increasing volume and yields, which generates more liquidity and accelerates adoption.

Technical Superiority: As Sui's first full-stack advertising application, Alkimi leverages infrastructure that competitors cannot match. Sub-second transactions and enterprise-grade security attract premium brands that require transparency and performance.

7.2 The AdFi Revolution

AdFi transcends traditional DeFi protocols by building the rails for the financialisation of a $750 billion industry.

By solving real problems; 90-day payment delays, 40% fees, and opacity of fees, Alkimi creates a sustainable value engine benefiting token holders, publishers and advertisers alike.

The result: a token backed by growing revenue, protected by network effects, and positioned to capture a significant share of global advertising cash flows. Alkimi provides the vehicle for the future of digital advertising, where transparency and efficiency replace the opaque, inefficient systems of incumbents.

8. Token Allocation

Alkimi's token distribution prioritises long-term ecosystem sustainability. The total supply of 1 billion ALKIMI tokens is allocated across six strategic categories designed to maximise value creation for all stakeholders.

8.1 Community Engagement & Growth (250 Million Tokens - 25%)

The 250 million token community allocation demonstrates Alkimi's commitment to sustainable, long-term value creation through meaningful user engagement. This five-year strategy prioritises infrastructure and support systems over short-term incentives.

Strategic Community Development

With 67.5 million tokens available in the first year, the protocol invests in foundational elements that transform users into active participants and advocates.

Five-Year Distribution:

• Foundation Phase (Year 1): 67.5 million tokens - Core infrastructure and early adopter rewards
• Growth Acceleration (Year 2): 80 million tokens - Scaling successful programmes
• Ecosystem Maturation (Year 3): 55 million tokens - Deepening platform integration
• Long-term Sustainability (Years 4-5): 47.5 million tokens - Maintaining momentum

Creating Real Value

Platform Education: Comprehensive support programmes with dedicated community managers, educational resources, and workshops transform users into power users who understand and maximise AdFi's benefits.

Developer Ecosystem: Grant funding enables developers to build tools, dashboards, and integrations that enhance the ecosystem. Each successful integration increases users and transaction volume.

Community Engagement: Long-term ALKIMI holders will receive annual incentives, airdrops, and rewards, fostering a strong and active community. This encourages continued participation and investment in the ALKIMI ecosystem, ensuring its sustained growth and development. Regular communication and feedback channels will also be established to ensure the community's voice is heard and considered in future decisions.

Every token allocated correlates directly with platform adoption and transaction volume. This approach builds a community of informed advocates who understand the potential of on-chain advertising, creating sustainable growth that benefits all ALKIMI holders through increased platform activity and fee generation.

8.2 Ecosystem Development Fund (150 Million Tokens - 15%)

Alkimi will utilise the ecosystem fund to enable a highly liquid market for the ALKIMI token, allowing buybacks to operate with low spreads and high volume. This fund creates a stable trading environment across DEXs and CEXs.

The ecosystem fund allocates to partners who can provide low spreads, deep liquidity, and desirable venues for trading to attract new users and facilitate fee buybacks. A liquid market with tight spreads allows Alkimi to compete more effectively for top-tier partnerships and accelerate ALKIMI token adoption.

Allocation Breakdown:

• Exchange Listings: Strategic listings on tier-1 CEXs and Sui DEXs expand ALKIMI's reach in global markets, increase trading volume, and attract institutional liquidity. New listings reduce barriers to entry for new holders whilst providing existing token holders with more exit and entry options, ultimately supporting price stability and long-term value appreciation.

• Market Maker Liquidity: Providing better order book depth and volume, Alkimi engages multiple market makers. Aiming to reduce slippage and volatility through smaller spreads, better depth, and uptime ensures a smoother trading environment for all ALKIMI holders.

This allocation reflects Alkimi's commitment to building robust market infrastructure that supports long-term ecosystem growth. By prioritising liquidity and accessibility, this allocation creates the foundation for sustainable token adoption and positions ALKIMI as a viable medium of exchange within the broader advertising ecosystem.

8.3 AdFi Liquidity (150 Million Tokens - 15%)

AdFi represents a key component of Alkimi's roadmap, increasing participation from AdTech and crypto communities. The advent of AdFi increases overall transaction volume and rewards on the Alkimi platform.

150 million tokens are allocated to AdFi Liquidity to support launch and growth. The liquidity provision creates operational flexibility and market stability for customers of the AdFi product, allowing Alkimi to quickly scale the solution to all publishers on the platform.

Liquidity provided remains locked within AdFi pools, with any yield earned replenishing the treasury for continued expansion. Given AdFi's revenue-generating model, this treasury can be actively managed through buyback programmes, creating a positive feedback loop between platform success and token value.

AdFi Liquidity Breakdown:

• Liquidity Provision: Initial seeding of AdFi liquidity on Sui ecosystem
• Strategic Buybacks: Using zero-day payment revenue to complete on chain buy backs of rewards for ALKIMI and stablecoin stakers
• Lending/Borrowing Subsidies: Providing attractive rates and incentives for liquidity providers to support AdFi lending markets and encourage early participation

This allocation ensures that AdFi launches with deep liquidity and competitive yields, creating the foundation for sustainable growth in the AdFi ecosystem. By combining initial token subsidies with revenue-driven buybacks, this treasury creates a self-sustaining cycle that benefits both platform participants and token holders through enhanced utility and value appreciation.

8.4 Strategic Partners (100 Million Tokens - 10%)

The 100 million token allocation for Strategic Partners encompasses relationships with key stakeholders who provide essential resources for Alkimi's growth trajectory. This includes strategic investors and partnerships such as the Sui Foundation, along with industry veterans, technical advisors, and ecosystem catalysts who contribute specialised expertise, market access, and operational support to accelerate platform development and adoption.

Building a competitive AdFi ecosystem requires strategic alliances with partners who understand both traditional advertising markets and decentralised finance infrastructure. These partnerships provide Alkimi with technical guidance, market insights, and operational support necessary to capture a meaningful share of the $750 billion digital advertising market. Partner contributions include advisory services, technical development, market expansion, and ecosystem building activities that directly benefit token holders through increased platform utility and adoption.

This structured approach ensures partners remain committed to Alkimi's long-term success whilst aligning their incentives with sustainable ecosystem growth and token value appreciation.

Vesting Structure:

• 12-month cliff post partnership
• 1-year linear vesting post-cliff
• Performance-based unlocks tied to ecosystem milestones

8.5 Marketing & Growth Campaigns (100 Million Tokens - 10%)

Marketing efforts communicate how Alkimi's technology addresses long-standing inefficiencies in digital advertising, helping both the ad industry and Web3 communities understand Alkimi's solution to the challenges faced.

This allocation positions Alkimi to capture significant market share by addressing the unique dual-market opportunity. The protocol educates traditional advertisers about blockchain's transformative potential whilst showing DeFi users how AdFi creates sustainable yields.

Multi-Channel Approach:

• Event Leadership: Strategic presence at major AdTech and blockchain conferences establishes Alkimi as the thought leader in advertising finance, shaping industry conversations.

• Building Credibility Through KOLs: Partnerships with key opinion leaders span both AdTech and DeFi, creating authentic bridges between these communities.

• Education First: Heavy investment in educational content, case studies, and technical documentation. The better the market understands AdFi innovation, the faster adoption accelerates.

• Gamified Growth: Trading competitions and ecosystem challenges make participation engaging whilst demonstrating platform capabilities in real-time. Every campaign showcases on-chain advertising achievements.

• Performance Marketing with Proof: Digital campaigns target both traditional and Web3 audiences, demonstrating transparent advertising in practice.

The marketing allocation positions Alkimi to execute simultaneous campaigns in both AdTech and DeFi markets, build brand recognition as the leader in advertising finance, fund aggressive user acquisition during the critical migration period, and support long-term education initiatives about AdFi benefits.

8.6 Existing Holders (250 Million Tokens - 25%)

This allocation is migrated ERC-20 $ADS tokens from existing holders to ALKIMI on Sui.

9. Getting Started with Alkimi

The strategic partnership with the Sui Foundation, combined with the platform's revenue-driven buyback mechanisms and comprehensive AdFi liquidity provisions, creates a unique value proposition in the DeFi space.

9.1 Next Steps

• Review Documentation: Access comprehensive migration and technical documentation
• Join the Community: Connect with the Alkimi ecosystem through official channels
• Explore Staking: Review staking opportunities available at launch through Alkimi Labs
• Provide Liquidity: Consider participating in AdFi pools to earn yields from real advertising transactions

9.2 Essential Resources

• Security Audits: Asymptotic Audit report available
• Community Support:
  • Telegram: @Alkimi_Exchange
  • Discord: https://discord.gg/alkimi
  • Email: support@alkimi.org
• Platform Access: labs.alkimi.org