How to Participate in the Bitcoin Monkeys IDO

For the Bitcoin Monkeys IDO, the ALEX Launchpad has been improved to v1.1 which uses a hybrid on-chain/off-chain lottery drawing for distributing IDO tokens.

Follow these three steps to participate in the opportunity the IDO offers and help bring Bitcoin DeFi to life:

Step One: Earn APower

For access to all ALEX IDOs, APower is required. APower is a non-tradable and non-transferable token that can only be earned through $ALEX staking and yield farming.

You will need to connect your wallet on our app to check the amount of APower you have. If you don’t yet have APower, please visit our “Stake” or “Farm” tabs for instructions.

*All the prices and numbers in our graphics are for purely illustrative purposes

*All the prices and numbers in our graphics are for purely illustrative purposes

Step Two: Register your Lottery ticket

During the registration period, which begins at block-height 52,900 and ends at 53,950, you can validate your lottery tickets by submitting them with both $ALEX and APower to participate in the IDO.

Each ticket will require locking in $ALEX together with the amount of APower listed. Only tickets submitted with both APower and $ALEX will be validated and participate in the lottery.

A maximum of 50 tickets per wallet can be registered. Each wallet can only register tickets once. For example, if you register 30 tickets you can not register more tickets at a later time.

After successfully validating tickets, users then wait for the Lottery Drawing stage. No other user action is needed.

Before validation *All the prices and numbers in our graphics are for purely illustrative purposes

After validation *All the prices and numbers in our graphics are for purely illustrative purposes

Step Three: Lottery Drawing

Lottery Drawing Screen *All the prices and numbers in our graphics are for purely illustrative purposes

Once the Lottery Drawing stage is reached at block-height 53,950 you will have your validated ticket results generated automatically indicating if you’ve won or lost.

The ALEX Launchpad uses a hybrid on-chain/off-chain lottery system that provides a smooth and efficient user experience while also ensuring a fully verifiable drawing procedure.

For winning tickets, the $ALEX locked with that ticket will be swapped for IDO tokens. For losing tickets, the $ALEX locked with the ticket will be refunded to the associated wallet immediately. APower is burnt no matter the outcome.

ALEX will automatically send out IDO tokens for winning tickets or refunds for losing tickets once the lottery result is generated. Please be patient with the transaction status on the Stacks blockchain.

No one will “lose” the $ALEX submitted with validated tickets. You will either win and swap your $ALEX and receive IDO token, or, your ALEX will be refunded back to your wallet.

*All the prices and numbers in our graphics are for purely illustrative purposes

Thank you!

Thank you for your participation, congratulations to all future lottery winners, and welcome everyone to the ALEX community and the dawn of Bitcoin DeFi.