Dexalot
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Dexalot

ALOT of Dexalot Discovery

— how to buy and sell the Dexalot Token ALOT

Initial price discovery of Dexalot’s ALOT token is upon us, so here is a short guide to help you participate. First, familiarize yourself with Dexalot Discovery. You may enter the process as a seller by being a current owner of ALOT tokens. These tokens may have been received from the Avalaunch allocation. You may also enter as a buyer during the Dexalot Discovery auction. After Dexalot Discovery is complete, you may join as a seller or a buyer on the Dexalot exchange. This will happen on https://app.dexalot.com/trade, and a detailed description and timeline can be found here.

Feb 23 at 11:00 am UTC: Dexalot Portfolio deposits enabled

Feb 24 at 2:00 pm UTC: Price auction starts and runs for 24 + 0–3 hours

Feb 25 at 2:00 pm UTC + 0–3 hours: Matching starts

Feb 26 at 4:00 am UTC*: Live trading starts *pending end of the matching

Feb 26 at 6:00 pm UTC: Fully functional trading starts

Feb 23 at 11:00 am UTC: Dexalot Portfolio deposits enabled

  • Deposit tokens
    - Buyers: transfer AVAX to your MetaMask wallet. Here is a tutorial on how to transfer to and from an Avalanche wallet and a MetaMask wallet. The deposit button is in the trade tab in the center section. You can also deposit from the three-dot menu on the far right in the portfolio tab under *Portfolio Available*
    - Sellers: transfer ALOT to your MetaMask wallet. You can activate your one-button Avalaunch deposit transfer here in your allocations tab.
  • Familiarize yourself with the Dexalot Exchange
    -Take a Tour ( Click on *Product Tour* in the Help Menu)
    -Check out the Trade, Orders, Portfolio, and Transfers Tabs in the center section. If you have any questions about how the exchange works or what you can do with it, ask anything on Discord and Telegram. If you have time, you can set up an account on the Dexalot Testnet and practice with mock tokens all of the things you may want to do when Dexalot Discovery starts. Here is a short tutorial on how to set up a testnet wallet and trade. You may find reading the Discord #testnet-battle channel helpful. Many questions about the process were asked and answered there. You can also read about the three Testnet Battle simulations of Dexalot Discovery (here, here and here).
  • Now, prepare what limit orders you would like to make. Here is what you can expect from Dexalot Discovery…
    -Initially, sellers and buyers will likely populate the order book with limit orders, leading to a potential match price around the IDO price.
    -However, sellers will probably try to increase this price.
    - Similarly, buyers will probably try to lower the match price.
    - Both sides can cancel their orders and add new orders updating their prices and quantities until randomized closing ends.
    - A countdown clock indicates when randomized closing begins.
    -During the period of randomized closing, the auction can close and end randomly anytime.
    - Any big changes by a participant in terms of price or quantity to affect price could expose one due to the randomized closing.
    - It is highly recommended to enter orders that reflect your true intentions towards the end to ensure a regret-free closure to your order.

Feb 24 at 2:00 pm UTC: Price auction starts and runs for 24 + 0–3 hours

  • Wait for the Dexalot Discovery Auction to open- once it opens, place, cancel and replace orders as many times as you would like. If you miss the opening of the auction, you will still have an opportunity to buy and sell ALOT after the auction closes and live trading begins.

Feb 25 at 2:00 pm UTC Auction Enters Randomized Closing

  • The auction can close at any time. You may still cancel, place and replace orders during this time. However, if the auction closes while you are in the process of making a transaction, that transaction will not complete, and you will not be able to make another limit order during discovery.

Feb 25 at 2:00 pm UTC + 0–3 hours: Matching starts

  • Once the auction is closed, matching of the trades on the left-hand side will execute and populate the trade history list on the right-hand side. The matched price obtained at this time is the initial price discovery of ALOT by Dexalot Discovery!

Feb 26 at 4:00 am UTC*: Live trading starts *pending end of the matching

  • Live trading will start at this time pending a successful end to the matching of orders. ALOT withdrawals are not allowed, but if you placed a limit order that did not execute and get filled, you will have an opportunity to trade and obtain an executable trade. You can not withdraw your unmatched tokens back to your MetaMask wallet at this time.

Feb 26 at 6:00 pm UTC: Fully functional trading starts

  • At this time fully functional trading where ALOT withdrawals are allowed will commence. If you did not have a chance to join in Dexalot Discovery you will be able to now buy or sell ALOT!

Happy Trading.

Writer: Brad McFall

Editor: Dan Marcoulis

Graphics: Can Toygar

About Dexalot:

Dexalot is a revolutionary decentralized exchange aiming at bringing the traditional centralized exchange look and feel to a decentralized on-chain application. Its mission is to bring a truly inclusive and transparent environment where Dexalot users can trade crypto securely and efficiently, with no slippage or custody risk. It is built on Avalanche, the fastest smart contracts platform in the blockchain industry.

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Brad Mc Fall

Brad Mc Fall

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AS in Computer Science and BS in Biology from Cornell University. Interested in evolution and blockchains