There have been many debates about what the fairest token generation event mechanism would be, but a consensus has yet to be reached. With that in mind, we’ve decided to do things a little differently and base our launch on (possibly) the rarest commodity in this market: awareness. Welcome to our stealth launch.
The ASX Genesis Event has arrived. Please read this article carefully to understand the novel mechanics of this event.
Values in US$ consider ETH priced at $1,750.
As a community-focused project committed to the ethos and founding principles of the blockchain space, we are pleased to announce the official launch of ASX, the governance token of the ASX Protocol.
In the spirit of equal distribution, fairness, decentralization, and a community-first ideology, the launch event is taking place on our custom-made platform and it's the first and only opportunity for anyone to get access to the ASX Protocol's native token, ASX, which will give holders the power to govern and curate essential infrastructure components of the network.
Our mission is to give everyone in our community an opportunity to become a stakeholder in the ecosystem, and we want to extend that opportunity as fairly as possible. Launching ASX on our own platform, with a mechanism that is fair and transparent for all participants, drastically increases the chances of achieving this mission.
Apart from building our own token launch platform, we made sure everyone was on a level playing field. There's no seed or private sale, no liquidity mining, no emission (zero inflation), zero tokens to influencers or promoters, no airdrop, and zero Treasury, Company, Founders, Team, or Partners allocation.
The protocol's revenue will exclusively serve ASX holders and all operations will be funded with ETH or stablecoins.
The ASX Genesis Event is open to all interested and qualifying parties. It's a major milestone for the ASX Protocol ecosystem and speaks to the viability of our core technology and business model as we aim to become the ultimate permissionless omnichain liquidity hub for staked assets.
At ASX Labs, we believe in creating a global staking ecosystem of the people, by the people, for the people, that shall not perish under any threats. The crypto dream has never been about creating an instrument that can easily be put in a box, but about creating global assets that can govern and manage these new decentralized global networks.
To mint 1 ASX you need to contribute 0.000004 ETH. A total of 800,000,000 ASX will be available for minting. Due to the low fully diluted market cap of the project and to ensure as broad a distribution as possible and dramatically soften the potential for a massive gas war, we decided to operate in stealth mode until 50% of the tokens are minted.
There's a minimum of 1 ASX per mint and no maximum. Setting up a max cap per wallet without KYC is foolish and we're not big fans of KYC in DeFi. For us, privacy and freedom are paramount, and we respect and stand by yours. With that said, there's a cap of 100 ETH per mint on our Interface just to slow things down, if they get a bit crazy.
If you're lucky enough to hear about the ASX Protocol early, you'll have enough time to participate. Otherwise, you can get ASX tokens on Uniswap, after the Genesis Event is completed.
Participating in the ASX Genesis Event is simple, quick, and intuitive, and getting prepared is even easier. Here’s what you’ll need:
→ An Ethereum-compatible web3 browser wallet, such as MetaMask. You can generate a wallet address from these web3 wallets directly, or use your seeds to import an existing wallet address.
→ Sufficient ETH, which you will need in order to contribute and pay for transactions gas fees.
Once you’ve got your checklist all set, here’s what the process will look like:
Once your transaction is validated, a smart contract, that works like an escrow, will receive your ASX tokens and keep them safe until the end of the Genesis Event, when you will be able to claim them. Claimed ASX tokens are not locked and there is no vesting.
Team and partners are allowed to participate in the Genesis Event after the progress bar reaches 50%. If the desired amount of ASX that those parties intend to hold can't be fully minted during this event, the remaining amount will be purchased on Uniswap.
By the end of the Genesis Event, the initial liquidity of the ASX token will be immediately provided as a full range position on Uniswap V3. Since the resulting liquidity provider (LP) token will be directly burned, this initial position will be perpetual.
The liquidity depth will represent 40% of the FDV (Fully Diluted Value) and its absolute value will be based on the total ASX minted.
The Genesis Event will end in 10 days after the soft cap is reached or when all ASX tokens are minted, whichever comes first. Any unminted ASX will be burned.
We were very careful when deciding the code for the ASX ERC-20 smart contract and, to make it the safest possible, we only allowed the absolutely necessary lines of code. There's no mint function, no pause function and the contract is not upgradeable. It is an immutable token on the Ethereum Mainnet Network.
Both the ERC-20 and the Genesis Event smart contracts were developed with the highest levels of security, leveraging the battle-tested OpenZeppelin standard. With the entire supply circulating by the end of the Genesis Event plus the immediate burn of the liquidity provider (LP) token, you can rest assured that the ASX token can never be hacked or rugged.
The team at ASX Labs will NEVER DM YOU FIRST or ask you for money on any platform. You should be very skeptical of any DMs received by anyone claiming to be from ASX Labs.
Only trust ASX Protocol's official channels at the bottom of this announcement for information surrounding the event.
The ASX token will only be available once the Genesis Event is completed. Only then you will be able to trade it on Uniswap. Be sure to always check the smart contract address before trading.
This is the first step towards an omnichain yield future. Welcome aboard.
You understand that the ASX tokens have no intrinsic value and are solely tools of governance, and as such have no intrinsic potential for future appreciation in any form whatsoever. You further represent and warrant that you are an active user of blockchain technology and blockchain-based software systems and have the pre-requisite technical knowledge to understand what has been mentioned in this announcement and the risks that follow.
The information provided within this announcement is for general informational purposes only pertaining to the governance tool. You understand that the ASX Protocol governance structure is an experiment in the field of decentralization and community governed structures, in which participation via the ASX token and otherwise is entirely at your own risk.
Information contained in this announcement should not be relied upon at any time as advice to buy or sell or hold the aforementioned governance tokens and a particular note should be made to emphasize the solely governance-based nature of the ASX tokens and their lack of intrinsic ownership or economic value. This announcement does not take into account nor does it provide any tax, legal, or investment advice or opinion regarding the specific investment objectives or financial situation of any person.
ASX Protocol and its associated parties, as appropriate, make no representation or warranties, expressed or implied, as to the accuracy of such information and ASX Protocol expressly disclaims any liability that may be based on such information or errors or omissions thereof. ASX Protocol reserves the right to amend or replace the information contained herein, in part or in its entirety, at any time, and undertakes no obligation to provide the recipient with access to the amended information or to notify the recipient thereof. The information contained in this announcement supersedes any prior representation, post, or conversation whether informal or formal, concerning the same, similar, or related information.
This communication is not for distribution to U.S. newswire or similar services or any dissemination in the United States. This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, ASX tokens to any U.S. person (including, without limitation, any citizen or resident of the United States) or in the United States or in any jurisdiction in which such offer, solicitation, or sale would be unlawful before registration or qualification under the laws of any such jurisdiction.
Any reference or mention of the ASX Genesis Event being open or accessible to the “public” should be understood to refer only to qualified individuals and entities under the applicable law.
The ASX token is not an investment contract or security and should not be treated as such.
The ASX Genesis Event is not available to anyone located, incorporated or otherwise established in, or a citizen or resident of the United States of America, Afghanistan, Albania, American Samoa, Angola, Antigua and Barbuda, Aruba, Bangladesh, Barbados, Belarus, Benin, Bermuda, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, Brunei Darussalam, Burkina Faso, Burundi, Cabo Verde, Cambodia, Cameroon, Canada, Cayman Islands, Central African Republic, Chad, China, Comoros, Congo, Côte D'ivoire, Crimea and Sevastopol, Cuba, Democratic People's Republic of Korea, Democratic Republic of the Congo, Djibouti, Dominica, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Eswatini, Ethiopia, Fiji, Gabon, Gambia, Ghana, Guam, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Honduras, Hong Kong, Iran, Iraq, Jamaica, Jordan, Kenya, Kyrgyzstan, Lao People's Democratic Republic, Lebanon, Lesotho, Liberia, Libya, Macao, Madagascar, Malawi, Maldives, Mali, Malta, Mauritania, Mauritius, Micronesia, Moldova, Mongolia, Montenegro, Morocco, Mozambique, Myanmar, Nauru, Nepal, New Caledonia, Nicaragua, Niger, Nigeria, Niue, Northern Mariana Islands, Oman, Pakistan, Palau, Palestine, Panama, Papua New Guinea, Puerto Rico, Russian Federation, Rwanda, Samoa, Sao Tome and Principe, Senegal, Serbia, Seychelles, Sierra Leone, Somalia, South Georgia, South Sudan, Sri Lanka, Sudan, Suriname, Syrian Arab Republic, Tajikistan, Tanzania, Thailand, Timor-Leste, Togo, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Uganda, Ukraine, United Kingdom, United States Minor Outlying Islands, US Virgin Islands, Uzbekistan, Vanuatu, Venezuela, Western Sahara, Yemen, Zambia, Zimbabwe, or any state, country, or jurisdiction where it would be illegal, according to applicable law, to participate in this event.