Obtain ALG (Week 5)
Weekly Application Period: 18th July, 2024 - 23rd July, 2024
Notification of Results: 24th July, 2024
Official AUSD Receiving Address：
0x52704185206F058C910716b1e469cFf6402f2854
Weekly Quata：
current Price：1AlG = 0.36 AUSD
Weekly Applicants：
Total Applications This Week：ALG
How to Participate：
Algen DAO opens a certain quota of ALG Tokens every week for application.
All users can submit claims on a weekly basis; however, Hit community users will be given higher priority.
Algen DAO dynamically assesses users' community contributions and selects Algen DAO OGs each week.
Algen DAO OGs will receive email and community notifications.
and will be eligible to exchange AUSD for ALG Tokens.
Note: The quota obtained by users will be determined based on the total amount opened each week, the number of applicants, and the users' community contribution.
Algen DAO and the Algen Ecosystem Incentive Program
Algen DAO is the sole agent for the Algen Ecosystem Incentive Program.
Algen DAO discovers "Hit communities" through each community event and engages in long-term ecosystem collaboration with them.
Combining on-chain and off-chain data, Algen DAO evaluates the "proof of engagement" within the Hit community and selects Algen DAO OGs based on their potential to expand the ALG ecosystem.
These high-quality users will become core members of Algen DAO, participating in subsequent Algen DAO voting and governance.
Most importantly, Algen DAO will grant OGs the qualification to receive ALG Tokens, allowing them to build their own communities and businesses around ALG Tokens.
What is a Hit Community?
Algen DAO identifies outstanding communities and groups through each online and offline event and designates them as Algen Hit communities, whose users will have priority in participating in the ecosystem incentives and becoming OGs.
Algen DAO's first community event Hit communities: Zapry, Metamask, Openvoice
The community contribution of Hit communities and their users is a dynamic metric, and the next Hit community will be selected in each event.
Participation Qualification and "Proof of Engagement"
"Proof of Engagement" refers to the contributions that users have made or may make to the Algen ecosystem.
Algen DAO has established this standard by combining on-chain and off-chain data related to users' interactions with Algen. This includes, but is not limited to:
Total score is 60 points, with * being the only mandatory condition. Algen DAO will allocate ALG exchange quotas based on the final score.
Proof of engagement is the core indicator for Algen DAO to measure users' eligibility and quantity for obtaining ALG.
AUSD Snapshot
AUSD is an application token deployed by Algen DAO on the Algen chain, designed to facilitate settlement within the ecosystem and the exchange with other tokens such as ALG. AUSD is a prerequisite for obtaining ALG.
During each application cycle, Algen DAO will take multiple random snapshots of the AUSD balance of applicants. Please ensure that the wallet address you use for application has a balance of more than 1000 AUSD at each snapshot.
If You Are Selected as This Week's Algen DAO OG, How to Exchange AUSD for ALG?
Based on scores and contributions, Algen DAO will reasonably allocate the ALG exchange quota.
If selected as an Algen DAO OG, Algen DAO will privately message you through the AlgenDao official account on the Zapry platform.
You will also receive a confirmation email from dao@algen.network. Please check your email.
Before the final exchange, please carefully verify the wallet address provided by Algen DAO and your personal address. Once the wallet address is confirmed to be correct, please transfer the corresponding amount of AUSD to the wallet provided by Algen DAO. The corresponding amount of ALG will then be exchanged into your wallet.
