Deep dive into the Angels Fund

Introduction

As we approach the launch of our highly anticipated Liquid Crowdloan, it’s time to remind our community of one of the key benefits of joining the whitelist and participating early in the crowdloan: the Angels Fund. This unique reward pool is designed to recognize and reward our earliest supporters, providing them with ongoing benefits throughout the crowdloan process.

What is the Angels Fund?

The Angels Fund is one of the primary incentives for participating in the Liquid Crowdloan and securing a spot on the whitelist. It was created to acknowledge the vital role that early contributors play in the success of Algem. By participating in the whitelist and the early stages of the crowdloan, users are not just investors; they are seen as foundational members or “angels” of the Algem community. The Angels Fund ensures these early supporters receive continuous rewards, reflecting their importance to our project.

How the Angels Fund works

The Angels Fund operates by distributing rewards to early participants in the Liquid Crowdloan over a period of six months. Here’s a brief overview of how it works:

• Reward distribution: The Angels Fund allocates a portion of ASTR rewards to early participants. These rewards are distributed monthly, ensuring that early supporters continue to benefit long after their initial contribution.
• Tiered system: Rewards are divided into two tiers:
  • 1st Tier: Whitelisted participants who joined the crowdloan (no matter which week exactly).
  • 2nd Tier: Non-whitelisted participants who joined during the first week of the crowdloan.
• Hybrid scheme: Rewards within each tier are distributed using a hybrid scheme that consider both the tier and the proportional method, ensuring fair distribution even for those with smaller deposits.

Size of the Angels Fund

The Algem team have allocated a huge amount for this pool, up to 1,800,000 ASTR. The exact size of the Angels Fund depends on the total amount of ASTR deposited during the crowdloan. The pool will be distributed among Algem Angels over a period of 6 months.

Here’s how it scales:

• If 100 million ASTR is raised: The Angels Fund size is 1,800,000 ASTR / 300,000 ASTR per month.
  • 1st Tier: Whitelisted participants receive 66.6% of the total monthly rewards (200,000 ASTR).
  • 2nd Tier: Non-whitelisted participants (first week) receive 33.4% of the total monthly rewards (100,000 ASTR).
• If 75 million ASTR is raised: The Angels Fund size is 225,000 ASTR per month.
  • 1st Tier: Whitelisted participants receive 66.6% of the total monthly rewards (150,000 ASTR).
  • 2nd Tier: Non-whitelisted participants (first week) receive 33.4% of the total monthly rewards (75,000 ASTR).
• If 50 million ASTR is raised: The Angels Fund size is 150,000 ASTR per month.
  • 1st Tier: Whitelisted participants receive 66.6% of the total monthly rewards (100,000 ASTR).
  • 2nd Tier: Non-whitelisted participants (first week) receive 33.4% of the total monthly rewards (50,000 ASTR).
• If 25 million ASTR is raised: The Angels Fund size is 75,000 ASTR per month.
  • 1st Tier: Whitelisted participants receive 66.6% of the total monthly rewards (50,000 ASTR).
  • 2nd Tier: Non-whitelisted participants (first week) receive 33.4% of the total monthly rewards (25,000 ASTR).

This scaling mechanism ensures that the rewards pool is balanced and sustainable, aligning with the overall success of the Liquid Crowdloan.

Note: The Angels Fund will not be established if the collection is less than 25 million ASTR.

Join the whitelist now!

Joining the whitelist for the Liquid Crowdloan not only offers early access and exclusive bonuses but also positions you as a foundational member of the Algem community. By participating in the whitelist, you can maximize your rewards and play a crucial role in the growth and success of Algem.

Apply for the whitelist → forms.gle/m1K9LK2LwCMCFstb8  

Stay tuned for more updates and be sure to secure your spot on the whitelist to take full advantage of this exciting opportunity!

---

About Algem

Algem is a decentralized application built on the Astar Network and offers two main features: liquid staking and liquid farming. As their names suggest, these two options let ASTR holders keep their assets liquid while putting them to work. Also, the liquid staking and farming solutions let users use Algem’s liquid nASTR tokens across Astar’s Defi ecosystem to earn staking rewards and make more money. In doing so, Algem supports other Defi protocols by providing liquidity and creating a sustainable and cooperative ecosystem on the Astar Network and Polkadot.

Join Our Growing Community!

Website | Twitter | Discord | Telegram