To add a bit more fun to every reward cycle for our fellow Bitcoin DeFi fans, we’re launching an ALEX lottery for a limited time. Our goal is to create community engagement as well as reward our loyal APower holders.
During a crypto winter, IDO activity slows down significantly. With the lottery additional utility will be provided to APower as it can be swapped for tickets to increase your chances of winning. All of the APower swapped for tickets will be added as $ALEX token to the prize pool by the ALEX Lab Foundation.
In response to community feedback when there’s a winning ticket 20% of the $ALEX prize will be burned, increasing $ALEX token scarcity.
To add even more excitement, some of the most popular NFT projects on Stacks have kindly donated prizes that will be awarded as well, including:
We welcome additional NFT donations from Stacks projects and they will be greatly appreciated by the ALEX community!
Participating in the ALEX lottery is easy, fair, verifiable and you can swap for as many tickets as you like, but this can only be done once per cycle.
Just because it’s crypto winter, doesn’t mean we can’t play!
The lottery begins at: blockheight 66,551 likely to fall on July 4th or 5th.
One lottery ticket costs: 10 ALEX.
Lottery Round: Every Cycle (525 Blocks)
You can swap for tickets during the initial 1–450 blocks of each cycle/round.
Blocks 451–475 are reserved for the lottery draw.
Blocks 476–525 are reserved for displaying the results and distribution of prizes.
Lottery entry limit: None, however lottery swaps can only be submitted ONCE per wallet per Lottery round.
Tickets will be automatically distributed to you after your transaction proceeds.
ALEX does not take a cut or profit from the lottery. All tokens submitted are either redistributed to winners or burnt.
Additional tickets can be swapped for using APower based on how many tickets you’ve purchased in the current round:
Purchase 5–14 tickets : Swap for 1 additional ticket with 50 APower
Purchase 15–24 tickets : Swap up to 3 additional ticket with 150 APower
Purchase 25–34 tickets : Swap up to 6 additional ticket with 300 APower
Purchase 35–44 tickets : Swap up to 10 additional ticket with 500 APower
Purchase 45 tickets : Swap up to 15 additional ticket with 750 APower
The ALEX lottery uses the Launchpad v1.1 hybrid on-chain/off-chain mechanism and VRF for true, secure randomness.
The lottery will automatically draw the winning numbers every round.
One ticket can win multiple prizes in a single round.
As an example of the lottery drawing, consider two Tickets, A and B:
Ticket A: Ticket #0012 is drawn as the 1st prize winner. This ticket will share the 1st prize pool after the drawing.
Ticket B: Ticket #0068 is drawn as 1st prize winner and 3rd prize winner. This ticket will share the 1st prize pool and 3rd prize pool after the drawing.
The NFT prize will be awarded to a first round winner. If there are multiple first round winners, the earliest to enter the lottery receives the NFT (the $ALEX prize is equally divided among the winners).
It is also possible no ticket wins, in which case the prize pool rolls over into the next lottery round.
The prizes for each lottery round come from three sources:
After every round, if no one wins one of the prize brackets, the unclaimed $ALEX for that bracket rolls over into the next round and is distributed across the prize pools.
20% of the $ALEX prizes won will be sent to a burn address. There is no burning when there’s an absence of a winner and the prize rolls overs. When those rollover tokens are finally won and distributed, 20% will be burned at that time.