Procedure for New Tokenomics Vote and Implementation

Published in

ALEX DeFi

2 min readNov 26, 2022

New Tokenomics: First Proposal

Should ALEX change from a fixed emissions schedule to dynamic emissions relative to the trading volume on the platform?

We will begin with a vote for a new staking system which will implement the changes discussed in the new tokenomics proposal:

Moving from a fixed emissions schedule to dynamic emissions relative to the trading volume on the platform
Manual ALEX staking & atALEX will be replaced by ALEX / escrowALEX continuous staking.

For the full proposal description please see here.

Vote opening block height: 85,065
Vote closing block height: 85,870
Voting Token: APower
Vote Portal Address: Here on ballot.gg

Option 1: Yes, change from fixed emission to dynamic emissions

Option 2: No, keep emissions fixed as they are

We must first discontinue the current staking system, which by smart contract will require 32 cycles. This will require a period of 3–4 months from the vote passing to reach the block height 103,825 when the intrinsic value of atALEX (in ALEX) is delivered to holders.
Manual staking will only be permitted to block height 103,825. During the weeks leading to block height 103,825 all farming, staking, atALEX will continue to function as usual. At block height 103,825, all the staking and farming rewards in manual or atALEX will be returned to users (*users will need to claim rewards manually). The new staking system will be effective by block height 103,825.
During the 3–4 months leading to block height 103,825, the ALEX community will then proceed to vote on further tokenomics proposals.

Emissions will be kept fixed as they are and vote on further tokenomics proposals will be scheduled.

If there are any question or uncertainties, please reach other to the community managers on the ALEX Discord Server. Thank you.