Hello everyone, this is your ALAX team. We know that we’re new and you have a lot of questions about how ALAX will function. So, we decided to compile them and address your most frequently asked questions in this blog.
While conceiving ALAX we wanted transparency to be in the forefront of what we were doing. Trust is one of the best foundations to build upon and we wanted our first steps to be in that direction. To implement our vision, using a public blockchain was a no-brainer. Why? Well, if you want to set up a p2p (peer-to-peer) relationship, there really is no better way to go about it than to use a public blockchain. Most of the disruption comes from new entrants to the ecosystem. So the more new entrants the more people learn about ALAX, which means that it has a higher adoption rate and we really want to have the widest reach possible.
As you might’ve noticed by now we are very passionate about our project and it really makes us happy to see that it resonates with you guys, your support brings us joy. We would also like to give some of that love you’ve been showing us back so, there is an airdrop campaign in the works. There will be more information coming through during March. You’ll have to stay tuned to receive any updates on that front or follow our social media, don’t worry there will be links posted at the end of this blog.
You’ve been asking a lot about if you will be able to participate. We do respect the guidelines of laws set out by countries, so, if you are not a citizen or resident of a country, whose legislation conflicts with obtaining or distributing cryptographic tokens, then sure you can participate in our TGE. Just be sure to check out you country’s legislation or stance on cryptographic tokens. Since we’re already discussing participation, in some cases we will require KYC forms. Don’t worry though, in case we need the KYC we will contact the participants right after their contribution. You can contribute as much as you want, so there’s no minimum or maximum set.
While developing ALAX we were mulling about what the best option for our token during the TGE would be and we decided that ERC-20 would be the most viable option since it’s the most widely used format. Since we’re also using DCore we thought it would be best to swap it for DECENT UIA (User Issuable Assets) later on. While we’re on the topic of tokens, the token distribution will take place within two weeks after the TGE, which means, that each participant will receive an email with all the information included.
We’ve also been really busy the past couple of weeks and we do have a prototype ready, but it’s in the early development stage currently and we only use it to promote our product to phone makers. We will be rolling out a public beta version, which will be available later this year.
Do you have more questions? Check the FAQ section on ALAX.io website to learn more or tune in to our Telegram group for updates. If you want to hear all the latest progress for ALAX.io don’t forget to sign up to our newsletter.
