Multichain Launchpad: Important Update to Terms and Participation

The ALEX Multichain Launchpad is the latest iteration of our Decentralized Launchpad. The Multichain Launchpad is closely integrated with the ALEX Bridge, now XLink.

XLink has a Bitcoin Bridge, BRC20 bridge and EVM bridge (to ETH and BNB liquidity) so far. ALEX community can use their wallets on Bitcoin, EVM or Stacks to participate on IDOs. The smart contracts and IDO lottery remain on Stacks.

ALEX Launchpad Buy-Back Protection

The ALEX Lab Foundation prioritizes our community, first and foremost. If the closing price of the IDO token, as quoted on CoinGecko, one week following IDO distribution* falls below the IDO price, a one-week buy-back protection scheme is triggered where participants can opt-in to sell back their IDO tokens at 90% of the IDO price. This limits the potential downside for one week following the conclusion of IDO registration. Only after such buy-back protection scheme is concluded can the projects withdraw IDO proceeds.

How To Apply

Application and Launchpad Terms

The Multichain Launchpad is open to everyone as follows:

1. Fill out the Launchpad application form. The ALEX Lab Foundation checks that applications are completed and that project teams are responsive.
2. The terms for the Launchpad that projects agree to are:
   a) ALEX will charge 5% of the IDO amount.
   b) ALEX will require 10% of IDO proceeds + 10% project token to be paired into AMM Pools for 6 months. The LP tokens can be withdrawn after the 6 month lock-up.
   c) Project will lock 90% of IDO proceeds after the registration ends for 1 week in the vault. If the token price drops below the IDO price after 1 week, Launchpad participants can be refunded at 90% of the IDO price. If not, the project can withdraw the proceeds after 1 week lock period.
   d) Minimum IDO amount is $100K
3. Projects also have the option of providing tokens for yield farming.

Approval Vote

Once the application form is complete and Launchpad terms are agreed to, the project is queued for an approval vote by the community of $ALEX and $atALEX token holders.

The approval vote is done on-chain through ballot.gg usually over a three-day period, there may be an AMA on ALEX’s X/Twitter Spaces to introduce the project during this time, and a dedicated AMA channel will be created in the ALEX Discord server.

For reference please see the Ordz Game vote page.

If Approved

The ALEX Lab Foundation will coordinate with the project to schedule an IDO. The IDO registration period is typically 5–6 days. After the IDO period closes, IDO tokens are distributed and an AMM pool will open on the ALEX swap.

If Not Approved

We will proceed to approval vote for the next IDO candidate projects. Any project not approved is welcome to apply again in the future.

IDO Stages

Community APower

A pre-determined number of tickets can be registered through the Community APower stage. On a first-come first-serve (FCFS) basis, these tickets are available to our community of APower holders until sold out. Please note that these are certain to be winning tickets that do not participate in the lottery.

The amount of APower required per ticket increases significantly the more tickets registered up to the community stage limit.

APower is the ALEX IDO access token, that is non-tradable and non-transferable. The only way to acquire APower is to earn it through ALEX Staking or Yield Farming. For more information on APower please see our Medium post.

Lottery Stage

The IDO lottery is done through a fair random number drawing. The odds of winning are inversely proportional to the over-subscription rate of the lottery stage.

i.e. if there will be 500 winning tickets and 1,000 are registered odds of winning are 50/50. If the number of registered tickets increases to 5,000 the odds of winning are 10%.

Winning tickets will swap the payment tokens submitted for registration for the IDO tokens. Tickets that don’t win will have the payment tokens refunded to the Stacks wallets.

For greater detail on the number random generation for the lottery and on-chain verification of results, please see on post on our hybrid lottery system.

Whitelist

A pre-determined number of tickets will be available to whitelisted wallet addresses. Whitelist spots may be distributed by the ALEX Lab Foundation or the IDO project to community members whose contributions have been exceptional. These are winning tickets that do not participate in the lottery.

How to Participate

Participating in different project launches will differ slightly depending on the subscription currency of the launch and which blockchain your liquidity is held on.

Although the ALEX Lab Foundation will publish unique instructions for each launch, the steps below are universally applicable:

1. Find the project you wish to participate in on the Launchpad page
2. Go to the project Dashboard
3. Note the block height where registration begins and what the subscription currency of the launch is ($aBTC, $sUSDT, etc.)
4. If you don’t hold the subscription currency in your Stacks wallet, use the bridge to onboard your liquidity on BTC, ETH, or BNB to ALEX, then use the swap page to exchange for the subscription currency.
5. Once the IDO registration block is reached, select how many tickets you will register. Whitelist and Community stage participation is gated, but the IDO lottery is open to all. Choose carefully how many tickets you wish to register, as every wallet can only register once per IDO and your selection can’t be altered.
6. After successfully validating tickets, wait for the conclusion of the Lottery Drawing stage. No other user action is needed.

* If such price is not available, a price determined by the ALEX Lab Foundation using, as a reference, the AMM price printed on the Stacks block closest to the midnight following such day will be used.