About Algorder Team, Some Disclosures and Announcements
In this article, we would like to talk about
- The motivation behind the Algorder Team, why did we start this project? what is our goal?
- We have some announcements and disclosures about our Beta Phase & ALGOR token airdrop.
Let’s start with the announcement & disclosures first.
Announcement & Disclosure about ALGOR token airdrop:
It’s been 4 days since the launch of the Beta phase now. There are 500 Algorder Accounts created at the time of writing this article. We received wonderful feedback from the community. Thanks for all the feedbacks, improvement ideas, bug reports you gave on our social media channels. We really appreciate that a lot.
As you know we are distributing %85 ALGOR tokens as an airdrop to our beta users. We are very thankful to all of our beta users for trusting us, testing the product in the first days, having the risk of encountering a bug. For this reason, we don’t want our beta users to earn a share of ALGOR tokens less than 10.000 tokens (enough amount to be an Algorthic). As you know there are 10millions of ALGOR tokens available. We are distributing 8.5 million as an airdrop. For this reason, we are limiting our airdrop for the first 850 Users that created an Algorder Account. This way it will be ensured that the airdrop amount will be at least 10.000 Algorder tokens for each user.
The account creation fee will be 0 after the first 850 Users. As we announced before this fee was only for limiting a user to create an unlimited number of free accounts before the airdrop and earn the majority of ALGOR tokens. Since airdrop will be limited to 850 users, after 850 accounts created we will remove the fee. So if you didn’t create an account before, and you want to create your account for free, wait for the beta phase to end or 850 accounts to be created.
ALGOR distribution will be done on July 15 as planned. We will be deploying a dashboard on our website for users to claim their airdrop.
About Algorder Team & Algorder Project
Let’s talk about the story behind the team and project. We are 7 developer friends that love the Avalanche Ecosystem. We were constantly talking about a need for limit & conditional orders on decentralized exchanges. So we started to develop a tool for ourselves.
On the day that Avalaunch (XAVA) token will be listed on Pangolin, we tried to buy it in the first seconds, but we could purchase it at an expensive price like already 100x from its initial price. The reason was a bot did purchase a heavy amount of XAVA tokens in the first second before anyone else can buy it.
As a result, we decided to turn our tool into a decentralized & publicly available version for anyone to use so that end-users could have a chance against bots.
We are not developing Algorder for earning a profit from it. That’s why we are distributing %85 of our tokens as an airdrop. That’s why we are not doing any ICO and not selling any of our tokens. All of our team has their daily jobs and another kind of income. That’s why don’t need it and we are not collecting any funds for our project.
Does this mean we will stop developing Algorder? Not at all! We already disclosed some of the features that are on the way for our product in our Discord channels. We will also publish a detailed roadmap on Medium in the following weeks.
Disclosure
After the airdrop, some users may list their share of ALGOR tokens from the airdrop on decentralized exchanges. Please make your own research and decision for a fair price of a single ALGOR token if you like to buy it from a dex.
ALGOR token is used for being an Algorthic; means sending user orders to decentralized exchanges and earning tips from that users. The tip for a single order is 0.1 AVAX, profit from it is 0.1 AVAX minus the gas fee you pay.
So if there are a total of 100 orders whose conditions are met and sent to exchanges in a single day:
It means 100*0.1 = 10 AVAX tips will be earned from them.
Profit will be 10AVAX minus gas fees.
And this profit won’t go to a single Algorthic. It will possibly be distributed among the Algorthics who are running a node for checking and sending orders.
Being an Algorthic will be more valuable if the number of daily orders being sent on Algorder increases. Our roadmap has steps like developing re-enabling orders, chain orders on Algorder. When that happens a user could set an algorithm like:
buy if AVAX < 12,
sell if AVAX > 12.5 in a loop.
When that happens maybe dozens of orders will be executed just for that user. We believe that with steps like this, amount of orders that are being executed by Algorder will be increased.
We strongly do not recommend creating an account just for becoming eligible for the airdrop. We would like you to create an account if you want to try the product in the beta phase.
We don’t want anyone to be disappointed in using Algorder. That’s why we decided to write this article for you.
If you would like to know details about how Algorder works please check these articles:
You may always reach us on Discord & Twitter.
Thanks a lot. Have a nice day!
