Dear Achain community members,

We have noticed the community’s concern about Achain’s ACT lock-up program and how platform project tokens such as BOS will be distributed. After discussing with the team, along with in-depth research and a community vote, we are now announcing the first draft of the ACT lock-up program and the platform project token distribution plan which is still being fine-tuned. The final details will be announced before Achain reaches the block height 1,950,000.

Achain welcomes suggestions from our beloved Achainers for improvements. The Achain team will optimize the program based on the suggestions of community members to ensure it could benefit everyone.

The first draft for the lock-up program is as follows:

#1 HOW TO PARTICIPATE

Visit the lock-up page. (The lock-up web page and lock-up tools are under development, and will be ready before block height 1,950,000) Store ACT in Achain Wallet or Kcash Wallet. To participate in, transfer 1 ACT to the designated address to successfully lock-up your position.

All community members can check the transaction records of the account to stay up to date with the details such as the number of participants and the amount of ACT involved. The ACT received at this address will eventually be rewarded to the community and will be jointly supervised. (Turn 1 are all the lock positions after joining (without repeated transfers), 1 ACT at any time to participate in the lock-in program).

Starting from a block height of 1950000, a snapshot will be made for every account address of its ACT balance with an interval of 50,000 blocks if the community member has registered for 1 ACT. In case multiple members of the community are sending more than 1 ACT to lock-up their position the additional ACT (any more than 1 ACT) will be returned to their original account address before the snapshot.

A snapshot will be taken 5 times to constitute a single lock-up period. The calculation for the ACT share of the current lock-up period is the sum of the total ACT held in each snapshot divided by 5.

For example:

User A:

Before the second period of 1950000 snapshot, User A registered by transferring 1 ACT to the designated address to lock successfully.

Let’s say the account balance in the 5 snapshots are 100, 200, 0, 300, and 100 ACT respectively.

The share of eventual participation in the second phase of the lock-up activity is (100 + 200 + 0 + 300 + 100) ➗ 5 = 140 ACT

User A can automatically continue to participate in the third and subsequent lock-up plans. (No need to repeat 1ACT to the specified address)

User B:

Suppose this user was not able to do 1ACT registration to lock up before the height of 1950000 block, but the lock-up plan can be attended at any time.

So, User B completes the transfer of 1ACT to the designated address before the 2050000 block height which fulfills the registration criteria successfully.

Then user B participated in the second three times after the snapshot, the three snapshots of their account balance were 100, 200 and 300 ACTs respectively.

Now, the share of eventual participation in the third phase of the lock-up activity is (100 + 200 + 300) ➗5 = 120 ACTs

In order to consider the interests of a multitude of community members, if after 5 snapshots someone’s total account balance is OVER 1 million ACT, their account balance for the lock-up will be limited to 1 million. (For example, address A has 2 million in each snapshot meaning the average balance is 2 million. Instead of their balance for the lock-up being 2 million, it will be counted as 1 million). Token sharing in each lock-up period will be in accordance with the prize pool statistics return rate.

#2 THE PRIZE POOL

The total amount of lock-up rewards is 35 million ACT, each lock-up release releases 1% of the remaining prize pool as a reward.

The first phase of Ourdax lock platform warehouse rewards 1% of 35 million (350,000 ACT)

The second phase of the total lock-up reward will be: (35,000,000–350,000) ✖️0.01 = 346,500 ACT

The total lock-up of the third phase will be: (35,000,000–350,000–346,500) ✖️0.01 = 343,035 ACT

The fourth phase lock-up rewards will be: (35,000,000–350,000–346,500–343,035) ✖️0.01 = 339,604 ACT

The total reward for the fifth lock-up period will be: (35,000,000–350,000–346,500–343,035–339,604) ✖️ 0.01 = 336,209 ACT

The total reward for the sixth lock-up period will be: (35,000,000–350,000–346,500–343,035–339,604–336,209) ✖️: 0.01 = 332,847 ACT

And so on.

Each participating user’s lock reward = The user’s current lock final share ✖️(Current lock positions reward ➗ Total amount of ACTs of all the users involved in this lock-up)

For example:

If the second locker total reward is 346,500 ACT, user’s current lock’s final share is 100 ACTs, warehouse lockup total ACT is 3,465,000 ACTs, then the user bonus = 100 ✖️(346,500 ➗3,465,000) = 100 ✖️0.1 = 10 ACTs

#3 LOCK WAREHOUSE REWARD DISTRIBUTION

After the fifth snapshot of each block is completed, the final lock-up amount and reward will be released within two work days and the rewards will be released. More details will be updated on the lock-up details page.

#4 LOCK-UP PERIOD AND THE CORRESPONDING BLOCK HEIGHT

ACT Lock-up Second Phase Snapshot Heights:

1950000

2000000

2050000

2100000

2150000

ACT Lock-up Third Phase Snapshot Heights:

2200000

2250000

2300000

2350000

2400000

ACT Lock-up Fourth Phase Snapshot Heights:

2450000

2500000

2550000

2600000

2650000

ACT Lock-up Fifth Phase Snapshot Heights:

2700000

2750000

2800000

2850000

2900000

ACT Lock-up Sixth Phase Snapshot Heights:

2950000

3000000

3050000

3100000

3150000

And so on

#5 PLATFORM PROJECTS TOKEN DISTRIBUTION PLAN

Token rewards offered up by Achain project-based players such as BOS will be issued with the most recent lock-up rewards.

For example, 300,000 BOS will be released along with the second phase of the lock-up ACT award release.

This is just the first draft of the lock-up program and token distribution plan and they are still being improved and optimized. Community members are welcome to actively participate with their valuable comments and healthy suggestions.

We are happily always listening to you!

Thanks & Regards

Achain Team