Small initial differences make a big long-term impact with compound interest. That’s why we are incentivizing early adopters of AutoALEX in a unique way.

For the very first time we are launching an exciting Lockdrop Treasure Box campaign with myriad rewards for participants.

Our goal is to raise AutoALEX awareness and reinforce that buying early and holding will benefit our community members more than expected!

What is a “lockdrop”?

The purpose of a lockdrop is to distribute the tokens of a new project to a wide variety of holders or participants. Typically, token holders of a project will need to lock their tokens into a smart contract for a certain amount of time in order to be eligible for token rewards.

Typically the longer and greater the amount of existing tokens that are locked in that smart contract, the more tokens that holder will receive.

Lockdrop vs Airdrop

An airdrop is basically sending tokens to multiple addresses for free in the hopes that if more people hold the token, then more people would take an interest in it and learn about the project. In practice however, most airdropped tokens are either sold quickly or sit in wallets unnoticed.

The lockdrop can be thought of as a modified version of the airdrop with a barrier to eligibility, which is the opportunity cost of temporarily locking up tokens. Even though tokens are not being spent or burned, being unable to use those tokens for a period of time does show a degree of commitment to the project. Ideally this results in new token holders who are more engaged and interested in the project from the very start.

ALEX Lockdrop Campaign

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.

Eligible atALEX holders will receive a lockdrop that includes each of our current as well as future tokens listed on ALEX on the Lockdrop distribution date.

The tokens to be dropped include:

STX, ALEX, xBTC, BANANA, SLIME, DIKO as well as all future tokens listed on ALEX prior to the distribution date.

Rules

1. Three snapshots will be taken in total.
2. The first snapshot will be taken shortly after the “gathering cycle.” For the first snapshot only, $ALEX which has been staked for 32 cycles will be counted, along with atALEX, toward eligibility. Snapshots 2 & 3 will be taken after Cycle #32 and only atALEX will count towards eligibility.
3. Depending on the amount of atALEX, each staking wallet will have a different multiplier for the amount being lockdropped.
4. If you are a liquidity provider for the atALEX/ALEX pool, the atALEX held in your LP tokens will count towards the eligible amount for the lockdrop.
5. Lockdrop rewards will be distributed after the completion of all 3 snapshots.

Multipliers

A) Each wallet will have a different multiplier and the multiplier will fluctuate depending on the amount of atALEX held at each snapshot (see below table).

B) Any wallet that does not hold the minimum qualified amount of atALEX (650 or more) when any of the three snapshots are taken will be ineligible. As mentioned above in Rule 2, for the first snapshot, $ALEX staked for 32 cycles will be counted as well as atALEX.

C) The final multiplier for a wallet will be the average of the 3 snapshots.

Final Multiplier = (Multiplier of 1st snapshot + Multiplier of 2nd snapshot + Multiplier of 3rd snapshot) / 3

We look forward to your participation!

Click here to explore the ALEX Bitcoin DeFi Platform.

‍