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We discuss an integrable hierarchy of compatible Lax equations that is obtained by a wider deformation of a commutative algebra in the loop space of sl2 than that in the AKNS case and whose Lax equations are based on a different decomposition of this loop space. We show the compatibility of these Lax equations and that they are equivalent to a set of zero curvature relations. We present a linearization of the system and conclude by giving a wide construction of solutions of this hierarchy.