ALEX Ends Staking and Farming Rewards After Cycle 408
Cycle 408 is the final cycle for ALEX staking and farming rewards. Under the approved End of Emissions proposal, rewards fall to zero from cycle 409, and the ALEX app has stopped accepting new staking and farming positions. New positions would otherwise remain locked while earning no rewards.
Existing rewards through cycle 408 remain claimable, with cycle 408 rewards available once cycle 409 begins. Staked ALEX and farmed LP tokens can be claimed when their lock periods end; the longest locks are expected to return principal around cycle 441. Harvest now claims rewards only, while the auto-stake option and Surge have been removed. atALEX V2 holders can withdraw to legacy ALEX and then request migration to ALEX, which is processed by the ALEX DAO.
ALEX says users do not need to take immediate action, and no claim deadline has been set. The ALEX buyback and burn will continue. The end of ALEX staking rewards removes a source of token incentives, while the ongoing buyback and burn remains a potential supply-supporting factor.
Bearish
The end of ALEX staking and farming rewards is a negative change for token incentives: holders can no longer open new reward-earning positions, and the yield-related reason to acquire or lock ALEX may weaken. In the short term, traders may focus on reduced staking demand and the potential for existing holders to sell once their positions unlock. The longest locks are expected to return principal around cycle 441, which could create a point to watch for additional sell pressure, although the article does not establish that holders will sell.
The impact may be limited if the change was anticipated through the approved End of Emissions proposal. ALEX also says its buyback and burn will continue, which may partly offset reduced demand by removing tokens from circulation. The net effect will depend on actual buyback activity, trading volume, liquidity, and broader crypto-market conditions. Similar reward-emission reductions across DeFi have often put pressure on yield-driven demand, but outcomes vary and are not guaranteed. Overall, the change tilts bearish for ALEX incentives, while the continuing buyback and the lack of a stated claim deadline temper the outlook.