The final snapshot of Lockdrop 1 was taken at block height 69,678.
Only a few days later 10% of ALEX Lab Foundation reserve received between snapshots 1 and 3, was distributed to the 582 eligible holders out of the 2,417 initial participants.
The lockdrop included:
Lockdrop2 is now set to begin soon, with quite a few improvements to favor small AutoAlex holders more than large holders, with multiple levels of participation available to help distribute the ALEX Lab Foundation reserve even more broadly.
The ALEX Lockdrop is a Treasury Box mechanism for rewarding atALEX holders. To be eligible for the Lockdrop, you must hold over a minimum amount of atALEX when three wallet snapshots are taken at undisclosed dates. For a refresher on the details of the Lockdrop mechanism please see our initial Lockdrop post.
Our focus will be on the rules, which have been modified and improved, for Lockdrop2:
1. Three snapshots will be taken in total.
2. The snapshots will be taken at undisclosed dates.
3. Depending on the amount of atALEX, or other qualifying tokens, each staking wallet will have a different multiplier for the amount being lockdropped.
4. Lockdrop rewards will be distributed after the completion of all 3 snapshots.
5. If you qualify for multiple levels, you will be rewarded with the highest level multiplier.
A) Each wallet will have a different multiplier and the multiplier will depend on the “Level” of participation during each snapshot.
B) Any wallet that does not hold the minimum qualified amount of tokens needed for Levels 1, 2 or 3 when any of the three snapshots are taken will be ineligible.
C) The final multiplier for a wallet will be the average of the 3 snapshots.
Level 1:
Holding 50K atALEX or more — 32x multiplier
Holding 10K atALEX or more — 6.4x multiplier
Holding 5K atALEX or more — 3.6x multiplier
Holding 2.5K atALEX or more — 2x multiplier
Holding 850 atALEX or more — .8x multiplier
*Note: Holding over 50K atALEX will not increase the distribution received.
Level 2:
Applies only to wallets that qualified for at least 1 snapshot during Lockdrop 1, but ultimately did not qualify. Holding atALEX > 600 — .5x multiplier
Level 3:
For wallets holding any one or more of the below:
BANANA > 100
SLIME > 300
NYCC > 30k
MIA > 10K
USDA > 50
AND also hold at least atALEX > 500 — .32x multiplier
*Note:
The multiple levels of Lockdrop2 are designed to significantly increase the final number of participants rewarded by providing multiple avenues toward qualification.
Particularly for Level 1 holding levels, please note the smaller the atALEX holding the larger the proportional share of the Lockdrop. The reason for this progressive distribution is that our goal is to encourage even small holders and newer community members to participate and be rewarded.
The final distribution will take place after snapshot 3 is taken, sometime around the end of Nov.
The distributed amount, similar to Lockdrop 1, will consist of at least 10% of the ALEX Lab Foundation reserve received between snapshot 1 and snapshot 3.
Example A
User A Holds:
50,000 atALEX at Snapshot 1
70,000 atALEX at Snapshot 2
10,000 atALEX at Snapshot 3
User A qualifies for Level 1: final multiplier will be (32+32+6.4)/3= 23.4x
Example B
User B Holds:
50,000 atALEX at Snapshot 1
50,000 atALEX at Snapshot 2
0 atALEX at Snapshot 3
User B , due to holding 0 atALEX during Snapshot 3, is ineligible to participate in Lockdrop2.
Example C
User C Holds:
10,000 atALEX at Snapshot 1
10,000 atALEX at Snapshot 2
650 atALEX at Snapshot 3
AND User C also qualified for at least one snapshot during Lockdrop Round 1
User C is ineligible for Level 1, but still qualifies for Level 2. Their final multiplier will be 0.5x
Example D
User D Holds:
10,000 atALEX at Snapshot 1
10,000 atALEX at Snapshot 2
500 atALEX at Snapshot 3
AND User D holds one of the required token amount for Level 3 during all 3 snapshots.
User D qualifies for Level 3. Their final multiplier will be 0.32x
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