Mainnet Launch and $ALEX IDO

We are excited to make two major announcements:

• First, is that we have a firmer date for the beginning of ALEX Mainnet which will be around January 10th. We will be first launching our Launchpad.
• Second, is that $ALEX token will be launched through an IDO Lottery on our Launchpad.

We will explain how to participate in the $ALEX IDO below.

Step 1: IDO Listing is Announced

Our IDO begins with tALEX tokens which are ALEX Testnet token. Over six thousands of our Testnet users have already received tALEX, but if you don’t hold tALEX there’s still time to receive some by joining our Testnet. You should Stake any tALEX you hold on our Testnet in order to start quickly earning more. Please be sure to take action soon before time is up!

To receive tALEX:

✅ Join the ALEX Testnet to receive 10 tALEX: https://app.alexgo.io

✅ Grow your tALEX by staking in the Testnet

If you are new to STX ecosystem or ALEX Testnet, please follow the instructions on this article on how to setup a Hiro Wallet to join Testnet:

How do I use Hiro wallet and access ALEX testnet?

Step 2: Exchange tALEX token for IDO Tickets

On or around January 3rd, a new “Exchange Page” will be added to ALEX testnet. On the “Exchange Page” you will be asked to enter your mainnet wallet address, and then you will submit your tALEX tokens in exchange for IDO tickets to be sent to the Mainnet wallet address entered.

We are not yet specifying what the ratio of tALEX to IDO tickets will be, that we will be based on the interest of our community.

Step 3: Validate IDO Tickets

On or around January 10th, our Launchpad, and only our Launchpad, will go live on ALEX Mainnet. The action you need to take from January 10th onwards, is to submit your IDO tickets on the Mainnet Launchpad together with STX in order to validate your tickets. Only validated tickets are “active” and will participate in the Lottery Drawing. The Launchpad will reveal critical listing details such as:

• Activation Threshold — there will be a minimum number of tickets that must be validated in order for the IDO to proceed, otherwise it will be canceled and all STX refunded.
• Total Amount to Raise
• How many $ALEX Tokens per IDO Ticket
• Price in STX per $ALEX token

*Note: Users can only do the validation process once. If users register less than the maximum amount of tickets eligible, additional tickets can not be validated at a future time.

Step 4: Lottery Drawing

On or around January 17th will be Lottery Drawing and the token generation event. You will “open” each of your validated tickets on the launchpad to see if you’ve won. If you win the lottery, your STX will be swapped for $ALEX, and you will see your $ALEX in your Mainnet wallet. If you lose the lottery, the STX submitted will be returned to the associated wallet immediately. Just to be clear, no one will “lose” any STX.

If the status shows “Pending” or “Transaction Failed”, this is due to the transaction status on the Stacks blockchain. Please wait and try again at a later time.

Users have several days over which to claim their lottery tickets, with each claim returning either a “win” of $ALEX or a “loss”, but with refunded $STX to the associated wallet.

Also on or around January 17, we will add to Mainnet:

• $ALEX Staking
• AMM DEX
• Liquidity Mining
• Yield Farming

Functionalities such as:

• Borrow/Lend
• Margin

Will be launched when protocol liquidity is sufficient, followed by our Order Book DEX.

Quick Recap

• Step 1: On Dec 20th, join our testnet at app.alexgo.io to receive and stake tALEX.
• Step 2: On or around January 3rd, exchange your tALEX for IDO tickets sent to the Mainnet wallet address you provide.
• Step 3: On or around January 10th, on the Mainnet Launchpad submit your IDO tickets with STX to validate your tickets.
• Step 4: On or around January 17th, open your validated tickets to see if you’ve won the lottery and received $ALEX, if not your STX is refunded.

Post IDO

Beyond on or around January 17th, an additional $ALEX can be acquired through:

• Swapping for $ALEX on the DEX
• Staking $ALEX
• Receiving Liquidity Provider incentives

For additional information and updates

Join us on our Discord: https://discord.gg/alexlab

Follow us on Twitter: https://twitter.com/ALEXLabBTC

Chat on Telegram https://t.me/AlexCommunity

Visit us https://www.alexlab.co