Press releases Introducing Tokens – Your Virtual Companions in the Alax App Store
Bitcoinist | Mar 01, 2018 | 13:00
Hong Kong, 28th February 2018 – ALAX, is a Mobile Game Distribution Platform, based on blockchain technology, which is set to transform the gaming industry around the world.
The project is a joint venture between DECENT (blockchain technology company) and Dragonfly (game distribution platform) which aims to provide a platform for content creators and gamers alike, including ‘unbanked’ consumers in emerging markets. The ALAX partnership means DECENT’s proprietary blockchain technology will have potential to reach out to Dragonfly’s 100 million active users.
ALAX implements a 2 token model on their platform, each of which has its own set of functions – ALA and ALX tokens. Why has ALAX chosen to implement a two token model?
Matej Michalko, Co-founder of ALAX, said:
Well, this choice was quite easy for us, since we wanted to be fair towards both the developer and the end user. By having two tokens we are providing a fixed value, meaning the developer gets the amount that the end user paid for the content. Therefore both sides are mutually satisfied.
The ALA Token – the Fuel for the App Store
It’s easy to distinguish the two tokens apart. ALA functions as a non-volatile utility token whose value is pegged to FIAT and will be used exclusively in the ALAX app store. A utility token is designed with a specific function in mind.
ALA will be used for obtaining games, apps and in-app purchases and cannot be used outside the ALAX store. It’s a non-volatile token, which means that as a regular end-user you don’t have to worry about ALA losing its value because it is pegged to FIAT, which ensures that the value remains consistent.
ALAX aims to make the platform easily accessible to everyone, so it made ALA easier for unbanked people to obtain using a reseller network of brick and mortar stores, and mobile operators. To appeal to more users ALAX offers a 20% discount for using their internal ALX/ALA exchange to obtain ALA.
Although there is an unlimited supply of ALA tokens, the tokens are eventually burned after the pay-out process takes place. The payout process works as follows: The developer asks ALAX to be paid out in FIAT in exchange for ALA tokens. The developer is then paid out and subsequently, all the used ALA tokens are burned by ALAX. The fact that these tokens are burned and not released back into circulation ensures transparency.
The ALX Token – Generated by the TGE
In contrast with ALA, the ALX token is designed to be tradable, and it will be available on public exchanges. The value of the ALX token will be determined by the movements on the public market. Simply said, the higher number of users in the ALAX store implies bigger demand for ALX. There will be a limited supply of ALX and these tokens will never be burned.
ALX tokens will be generated during the ALAX Token Generation Event (TGE) which is planned for the 17th of April 2018 and lasts 6 days. Concerning the maximum or minimum contribution which can be made, there is no limit set. The TGE itself is an opportunity for supporters to obtain ALX tokens before they hit any major exchange. In case, not all ALX tokens are generated during the TGE, they will be distributed to all TGE participants according to their stakes.
About ALAX
ALAX is a Mobile Game Distribution Platform, based on blockchain technology, which is set to transform the gaming industry around the world. It is a joint venture from blockchain technology business DECENT and app and game distribution platform Dragonfly, and aims to provide a platform for content creators and gamers alike, including ‘unbanked’ consumers worldwide.
Contact
Zuzana Gonova, PR manager – ALAX
Email: [email protected]
Phone: +421 904 888 016
Images courtesy of ALAX
