Introduction

Recently, we unveiled the innovative concept of the Liquid Crowdloan, a revolutionary fundraising mechanism designed to support the development of projects on Astar Network. Today, we are excited to delve deeper into the benefits of participating in this unique initiative, particularly the advantages of joining our exclusive whitelist!

Recap: The Advantages of Participating in the Liquid Crowdloan

Algem’s Liquid Crowdloan represents a new era in project financing, combining the strengths of ICOs, IEOs, and IDOs with the equitable and community-driven nature of lockdrops and crowdloans. By participating, users can:

• Contribute to the development of innovative projects on Astar Network.
• Receive liquid aASTR tokens, which provide flexibility and additional earning opportunities within the DeFi ecosystem.
• Earn ALGM rewards through a fair and transparent distribution mechanism.
• Benefit from an eco-friendly and the risk-free nature of a Liquid Crowdloan, as it minimizes financial risks for participants.

Introducing the Whitelist

The whitelist is designed to identify and reward the most dedicated members of our community by offering them exclusive benefits and early access to the Liquid Crowdloan event. Being on the whitelist is not a requirement to participate in the crowdloan, but it comes with several significant advantages that enhance the overall experience and potential rewards.

The Benefits of Being Whitelisted

1. Additional ALGM Bonuses:
   • Whitelisted participants will receive extra ALGM bonuses when participating in the Liquid Crowdloan, providing additional rewards.
2. Special NFT with APR Boost:
   • Whitelisted users will receive a unique NFT that provides an APR boost in Liquid Farming, enhancing their earning potential within the Algem ecosystem.
3. The Angels Fund:
   • Participants in the Liquid Crowdloan are seen as the early investors of Algem, as the project has been community-driven from the start. To honor their contributions, we have created the Angels Fund – a special pool that distributes additional rewards to very early supporters. “Angels” term refers to the venture investment sphere describing early financial contributors). 

5. The Algem Angel role in our Discord.

What is the Angels Fund:

The Angels Fund is a reward pool of up to 300,000 ASTR per month, distributed every month among very early participants of the crowdloan for a total of 6 months. The pool consists of two tiers, designed to provide ongoing rewards based on their tier and contribution:

• 1st Tier: Whitelisted Participants
  • Share of Rewards: 66.6% of the total monthly rewards (198,000 ASTR).
  • Distribution: Rewards are distributed using a hybrid scheme that considers both the tier and the proportional deposit, ensuring fair distribution even for those with smaller deposits.
• 2nd Tier: Non-Whitelisted Participants (For users who took part in the Liquid Crowdloan during the first week of the event but their addresses were not whitelisted)
  • Share of Rewards: 33.4% of the total monthly rewards (102,000 ASTR).
  • Distribution: Similar to the 1st tier where rewards are distributed on a hybrid scheme to reward users for early participation.

Participants who join in the Liquid Crowdloan on the second week do not qualify for these tiers and therefore do not receive these additional rewards.

How to Get on the Whitelist:

1. Submit an Application:
   • We will collect addresses and information from users who wish to participate. Submitting an application enters users into a lottery for a chance to be whitelisted. The lottery will be held at the end of the campaign, with a limited number of spots available.
2. Guaranteed Spots for NFT Holders:
   • Holders of our Algemantis Nautilus Pass NFT are guaranteed a spot on the whitelist if they submit their address.
3. Performance in Contests:
   • Users who perform well in our contests will also secure a place on the whitelist without needing to go through the lottery.

Rules for the Whitelist Lottery

To ensure a fair and balanced approach to selecting participants for the Liquid Crowdloan whitelist, we have designed a dynamic lottery system. This system will adjust based on the number of applicants to maintain a balance between making the whitelist accessible and keeping it a privilege.

Tiered Selection Based on Applicant Numbers

We have established the following tiered selection process and a cap on the maximum number of winners. The tiers are designed to scale the number of winners based on the total number of applications, ensuring fairness and exclusivity.

Lottery Structure

1. Expected Applications:
   • Up to 300 applicants: 50% selected
   • 301 to 500 applicants: 40% selected
   • More than 500 applicants: 30% selected
2. Maximum Number of Winners:
   • Cap: 250 winners 

Automatic Whitelist Spots

Participants who perform well in contests or hold our Algemantis Nautilus Pass NFT will automatically secure a whitelist spot. These participants will not count towards the total number of applicants considered in the tiered lottery.

Early Users of Algem

Users who have used Algem before the start of the crowdloan will receive a 2X multiplier to increase their chances of getting on the whitelist. This means their addresses will be added to the lottery list twice.

How do users know they are on the whitelist?

1-2 days before the start of the crowdloan, a draw will be held and the results will be published in the form of a Google spreadsheet.

Join the whitelist now!

Joining the whitelist for the upcoming 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 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 make sure to secure your spot now to take full advantage of these exciting opportunities!

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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.

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