How to Participate in YFDAI Launchpad-Hosted DAO1 Token Offering on Polygon Network (Matic)
The DAO1 token sale is happening on YFDAI LaunchPad. You can purchase the tokens with near zero gas fees over Polygon (also known as Matic Network). In this post, we explain the step-by-step process to purchase DAO1 during the token sale.
Here’s a walkthrough video created by YFDAI Finance explaining all the steps.
To participate in DAO1 YFDAI Finance LaunchPad Token Pre-sale and Public Sale, you will have to move USDT (Tether) from Ethereum Network to the Matic Network. Check out the 6 quick and easy steps below.
1. Visit https://wallet.matic.network and connect with your (Whitelisted) MetaMask wallet.
2. Once you have connected, you need to click on “Move Funds to Matic Mainnet”
3. Select USDT from the drop down menu, enter the amount of USDT you wish to send.
Note: Include enough for your max allocation plus extra to purchase $MATIC to cover network transaction fees.
4. Confirm the transactions (will take a few minutes), now your USDT is ready to use on Matic (your wallet will have .001 Matic in it already)
5. Use QuickSwap DEX to purchase $MATIC to cover network gas fees when participating in LaunchPad offerings (typically equivalent to a few U.S. cents).
6. The official link to participate in YFDAI’s token offerings will always be available in the YFDAI Official Announcements Channel on Telegram in advance of any token sale and soon on the LaunchPad dashboard.
Here’s another video explaining how to use the Quickswap exchange and bridge tokens between Ethereum and Matic Networks.
Congratulations, you are now ready to participate in the DAO1 Initial LaunchPad Offering on YFDAI Launchpad!
● There will be an applicable ETH gas fee on transactions going into (or out of) Matic (Polygon), but it’s a one-time fee each way
● Supported Wallets: MetaMask, WalletConnect, Coinbase Wallet, and many more supported wallets here: https://registry.walletconnect.org/wallets).
Detailed Step-by-Step Guide to DAO1 LaunchPad Offerings on Polygon
The very first step to participate in the DAO1 LaunchPad offering is to transfer assets from the Ethereum Network to the Polygon/Matic Network. As Matic uses its native $MATIC token to enable transactions on the network, users wishing to use Polygon should hold enough $MATIC tokens to cover the transaction fees, which is minimal compared to other networks.
- In addition to low transaction fee, transactions on Polygon are significantly faster than Ethereum Network.
- Users should maintain USDT (Tether) balance in their wallets connected to the Matic Network as it will be used to pay for the DAO1 tokens during the token sale on YFDAI LaunchPad.
- USDT can also be acquired by converting any digital currency on Matic using its native QuickSwap DEX.
Transferring or bridging assets to the Matic network from Ethereum will involve a gas fee, so it is advisable to send sufficient funds to cover the token costs and $MATIC purchase in a single transaction to minimize transaction fees.
Steps to Follow:
Step 1: Visit https://wallet.matic.network and connect your whitelisted MetaMask (or applicable Web3 wallet). Once the wallet is connected, users will then need to “Move Funds to Matic Mainnet”.
Please note: MetaMask, WalletConnect and Coinbase Wallet are available, in addition to many more. (All supported wallets can be found here: https://registry.walletconnect.org/wallets).
You can transfer ETH, USDT or select from a huge variety of available tokens on Matic Mainnet. However, for DAO1 token offering on YFDAI LaunchPad, the token preference will be USDT.
Step 2: Please ensure that you transfer adequate USDT to cover the maximum USDT allocation per whitelisted wallet for pre-sale and public sale purchase as well as associated transaction costs in $MATIC, which you may have to purchase on QuickSwap.
a) Now enter the amount of USDT in the “From” area that you’d like to transfer (remembering you need extra USDT for $MATIC) and hit the “Transfer” button.
b) Confirm the transaction and wait for it to be approved on the network.
Congratulations! You can now use QuickSwap DEX to swap a portion of your funds for $MATIC (and USDT if not already held) to cover negligible gas.
Step 3: You are now ready to participate in DAO1’s YFDAI LaunchPad token offerings.
a) Go to the LaunchPad link (which will be announced in DAO1 and YFDAI Telegram Announcement channels, and shared via YFDAI LaunchPad dashboard when it’s live) to participate in DAO1’s token pre-sale or public sale.
b) You will see a button on the right hand side of the screen which says “Switch to Matic.” Click on “Switch to Matic” and you will see the configuration for Matic network pop-up in your MetaMask wallet.
c) Click “Approve” to add the configuration and once it is added click “Switch Network”.
d) As soon as the network is ready, you will see the subscription box populated with your pre-sale allocation (or public sale offering) details (assuming that your wallet is whitelisted).
Step 4: Enter the amount of tokens you wish to purchase or simply click “MAX” and then click on the “Purchase” button below. This will bring up a “Confirm Purchase” pop-up that you should read and agree to before confirming.
- Your MetaMask/supported Web3 wallet will now ask you to confirm that you trust the site and wish to allow it to spend your USDT.
Step 5: Once this transaction is approved, your MetaMask/Web3 wallet will then ask you to confirm that you are sending the USDT to the contract. Click on “confirm” and you will see a “purchase complete” announcement.
Finished: Congratulations! You have successfully participated in DAO1’s YFDAI LaunchPad offering on the Matic network.
More information about Participating in YFDAI Initial Launchpad Offering is available at — https://yfdaifinance.medium.com/how-to-participate-in-yfdai-launchpad-token-sales-on-polygon-756ae2eb01c9
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