Guaranteed Allocations Are Live on Polkastarter
Big news is coming your way today, anon!
Tired of refreshing 10 times at 3 pm to make sure you don’t miss the moment? Lost a lot of hair after connecting the wrong wallet at the wrong time? Have PTSD from missing out on some amazing IDOs due to a bad internet connection for just a few seconds?
We hear you.
Changes are coming to the Polkastarter sale system. We are moving away from purely First Come First Served (FCFS) sales to embrace Guaranteed Allocations.
How will the new system work? Let’s dive in!
New Guaranteed Allocation Sale Structure
Starting with the $G3 Private Sale, we are introducing a Guaranteed Allocation system into Polkastarter sales. You can now become selected in the lottery and buy your allocation at any time within the designated sale window! No more stress of missing out just at the start. No more gas wars.
If you are not selected for the guaranteed allocation phase, you may still have a chance to contribute to the sale in the FCFS round. Users with both ‘Allowlisted’ and ‘Allowlisted FCFS’ will be asked to join KYC. Allocation amounts will vary per tier.
Sale Phases:
* Guaranteed Allocation: All allowlisted participants will be able to join the sale at the specified time. The guaranteed allocation sale window will last 1 hour. During that time, allowlisted participants can buy up to their maximum allocation, in one or multiple transactions. After 1 hour, if any allocation is left, the pool will turn into First Come First Served (FCFS).
If the status on your Polkastarter Dashboard is “Allowlisted”, then you can participate in the Guaranteed Allocation sale.
* FCFS: 1 hour later, if there is allocation left from the Guaranteed Allocation sale window, all eligible applicants not selected as lottery winners that have completed KYC will be able to enter the FCFS sale with the maximum allocation according to their tier. In the FCFS pool, you need to be quick in order to buy the tokens as whoever joins the pool and submits the transaction first, secures the tokens.
If the status on your Polkastarter Dashboard is “Allowlisted FCFS”, you can participate in the FCFS sale.
Please note: contribution in the FCFS phase is NOT guaranteed and the pool will only open to the FCFS participants if there is any allocation left from the previous guaranteed round.
Due to the new system of a different allocation per tier, maximum allocations can only be announced after KYC closes.
New Allowlisting Process Overview:
- Allowlist applications open on the project page.
* After you apply for the sale, your dashboard status should be showing APPLIED when your wallet is connected to the website. - Allowlist applications close.
- The lottery is generated by Polkastarter.
* You will find the lottery tab on the project card after it’s been generated. Learn more about lottery transparency here. - You can get 3 possible application statuses from the lottery on your Dashboard:
- PRE-SELECTED — if you answered the allowlist quiz questions correctly, and won in the lottery or have an automatic allowlist spot;
- PRE-SELECTED FCFS — if you answered the allowlist quiz questions correctly, but you lost in the lottery;
- UNLUCKY — if you answered the allowlist quiz questions incorrectly, or are under cooldown, you will be disqualified from the lottery;
- KYC opens and can be completed by those PRE-SELECTED and PRE-SELECTED FCFS.
* To start KYC, click on your application status when it shows KYC-OPEN;
* Those already KYCd with Synaps before will have their applications approved automatically. - KYC closes.
- You can get 3 possible final statuses on your Dashboard:
- ALLOWLISTED — can participate in the Guaranteed Allocation round;
- ALLOWLISTED FCFS — can participate in the FCFS round;
- KYC REJECTED — can not participate in the sale.
You can always find your application status on polkastarter.com/dashboard, and check information on all possible application statuses here.
Guaranteed allocations start with the $G3 Private and Public Sales. You can still apply for the allowlists from the Projects Page.
You asked and we delivered. 🫡
About Polkastarter
Polkastarter is the leading early-stage fundraising protocol, enabling web3’s most innovative projects to kick-start their journey and grow their communities. Polkastarter allows its users to make research-based decisions to participate in high-potential public sales and be early to the future of web3.
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Originally published at https://blog.polkastarter.com on March 28, 2024.
