Beta Testing FAQs
Sadly, the Beta software is not available to International iOS users. Aside from that, the Beta Test has two phases:
In phase 1 participants are rewarded with an Airdrop of 15,000 ALX. Phase 1 ends April 13th. Phase 2 then commences.
To participate in our beta tester airdrop you need:
- A Telegram account – so you can follow us
— OR —
Complete the form at https://algebraix.io/beta
You will receive an email within 24 hours with instructions to install ALX on your mobile device. Testers will be required to follow us on Telegram or Twitter (which is how we dispense support) and complete all in-app surveys to earn airdrop tokens.
In Phase 1, testers/users who sign up for the beta test airdrop between day 1 and day 30 of the beta test period and complete the requirements listed, will earn a flat 15,000 ALX tokens AND will continue to earn ALX tokens as described in Phase 2.
Note that the ALX token totals show in the application during Phase 1 are test information and do not reflect the amount of ALX that will be deposited in your wallet at the end of the beta testing period. At the end of Phase 1, the total ALX tokens shown in the application will be reset to 15,000 ALX in preparation for Phase 2.
In Phase 2, users who continue to participate in the beta test after Phase 1 and new users who sign up for the airdrop between day 31 and the end of the beta test period will earn the ALX tokens payouts indicated for each in-app activity they complete, until Phase 2 of the beta ends.
ALX token totals displayed in the app during Phase 2 of the beta test have exactly the same value as real ALX tokens, but have not been delivered to your wallet. Within 30 days of the end of the beta test period, the ALX token you accumulated in Phase 2 will be delivered to the public ERC20 wallet address to be provided upon request.
Yes. If you want, you can join our ambassador program to earn more ALX. Read Here
Our mission is to end data exploitation and empower individuals to control and manage their own data. We seek to facilitate trust between advertisers and consumers, enabling consumers to monetize their personal data while delivering improved ROI to advertisers.
There are many reasons for this. Perhaps the easiest to understand is that it is not economic to conduct micropayments (e.g. payments of amounts less than a dollar) in dollars through any existing commercial channels. In a cryptocurrency, using well selected technology, managing payments of even a few cents can be economic. Our business model requires a real-time micropayments ability.
We encrypt all data when we store it or when we move it. For user data we implement a public key/private key infrastructure using AES 256. The private key is known only to the user. Data is stored on the user’s device – in a fully decentralized way. If one individual’s data was compromised it would have no impact on any other user.
- Mobile Web – June
- External Campaign Portal – July
- Incentivized Virality – August
- Token Live – August
- Support Uploaders – September
- PSV – Transaction Signin -September
- PSV – Data Querying – November
- Campaign Targeting – 2019
- Reviews and Likes – 2019
- External REST API – 2019
- In App Filtering – 2019
- Data source integration – 2019
We minimize the possibility of click fraud by making it very difficult to establish a false identity.
- We implement a self-sovereign approach to identity, so that a user establishes their identity with reference to other identity information that already exists (linked-In profile, facebook profile, amazon profile, twitter profile, on-line accounts) as well as credentials they choose to provide (e.g. driving license information).
- We check for duplication (phone number, email, etc.)
- We monitor behavior, primarily for the benefit of real users (so that they are aware of their habits). Any automated behavior will naturally stand out in our analytical activity and would be investigated.
- Strong CAPTCHA systems, which by definition prevent bots.
Data Algebra makes a significant contribution in two areas. First it helps in the management of metadata at scale. This is a problem we will encounter as the user population grows. Secondly it provides an important ability to accelerate queries which will also prove useful when we need to scale to accommodate many millions of users.
In the short term there is no necessity for us to do that. In the longer term, as the user population increases, we expect we will need to have our own purpose-built blockchain. If that proves to be the case we will choose to base our base our blockchain on an open source blockchain that has proven its scalability (Stellar Lumens and Dfinity are being considered).
The Simple Agreement for Future Tokens (SAFT) is a legal agreement. You can think of it as resembling a forward or futures contract for an amount of ALX tokens: the seller (Algebraix) sells the rights to tokens ahead of their release date to a buyer (you): the seller must then build the network that enables their use and deliver the tokens at the Network Launch. Half the number of ALX tokens purchased by SAFT investors will be delivered to them at the Network launch. The remainder will be delivered on the six-month anniversary of the Network Launch. When buying a SAFT, you own the right to receive tokens of the issuer on a future date subject to any limitations that are detailed in the SAFT itself.
Regulatory compliance is a key focus for Algebraix. We have employed the top attorneys in the industry to advise our process. Our SAFT arrangement goes above and beyond the legal advice we have received in order to comply with all necessary laws and regulations. For accredited investors, our SAFT provides a safe and easy way to participate in our Token sale.
Regulatory compliance is key focus of Algebraix, we are conducting our public sale to accredited investors via a SAFT, which complies with securities laws via Rule 506 (c) of Regulation D. SAFTs eliminate that possibility and limit the pre-sale to that of a futures contract with approved accredited investors in reliance on the safe harbors for private offering exemption.
Yes, you do! The regular price after the Network launch for a token will be $0.002, but the public sale via SAFT will allow you to buy tokens for a price of $0.0015 per token.
Yes, we do take investment from International investors! Coinlist can KYC/AML international investors in multiple languages to support their investment.
- You click on the “Participate in Token Sale” button which is available on every page of our website. This will take you to the Coinlist workflow.
- You go through an identity verification. where the investor is identified, by providing the following:
- 1) US Investor provides name and SSN (if investing personally) or entity information (if investing via an entity).
- 2) Foreign Investor provides name and passport (if investing personally) or entity information (if investing via an entity)
- Following is the accreditation check (KYC/AML), where you (the Investor) uploads either proof of income or proof of assets.
- Upon accreditation, you will see wiring instructions provided for USD transfer. Or, if you want to invest via Ethereum, you will provide an ETH address from where the ETH is getting transferred to Algebraix’ Ethereum Account here.
- Upon receiving payments, you will receive an email acknowledging payment receival and a DocuSign to execute the SAFT within 24 hours.
Fifty percent (50%) shall be issued as soon as practicable after the Network Launch provided that such issuance shall be no later than the date on which such units of Token are distributed to the public: and (ii) Fifty percent (50%) shall be issued on the six-month anniversary following the first tranche.
You will have to provide us a ERC20 compatible address for the tokens to be transferred to you.
The SAFT is for the pre-sale of the rights to 25,000,000,000 (25 billion) ALX tokens from a total supply of 100,000,000,000 (100 billion) ALX, which will never be increased.
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