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The SKALE Auction Instruction Guide

by Collin MyersAugust 12, 2020
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UPDATE: For up to date instructions on the SKALE launch on September 3rd, please see the SKALE Sale Guide.

The SKALE Network will be conducting its token launch on the Activate platform. We have put together this step-by-step guide for registrants to successfully register and prepare for launch!

Registration Requirements

All registrants are required to complete the following on-boarding steps prior to being allowed to place a bid:

  1. Submit Profile Information

  2. Pass Identity Verification

  3. Pass the SKALE Network Quiz

  4. Submit Purchase Intent

If you have successfully completed all of these steps your dashboard should look like the below images


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Other Requirements

Claiming Wallet

After creating your account we recommend you head into your profile and connect your claiming wallet. This will make the bidding process easier if you do this beforehand.

If you wish to claim your tokens on your Ledger wallet please do so once the Ledger integration goes live in the coming days.


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ETH for Gas Fees

Please ensure you have sufficient ETH in your payment wallet to cover the gas costs associated with making a bid on the public Ethereum mainnet.

Submitting A Bid

Before walking through these steps, it is important to remind everyone that this is a live auction where all users wishing to participate and successfully place a bid are required to send a transaction. The auction operates on a first come first serve basis (please refer to our Dutch Auction Explainer for more info.) This is designed to allow everyone a chance to participate, regardless of your purchase intent amount.

Step 1:  Head to the Dashboard

On the day of the auction head to your dashboard where you will be able to place a bid and find a live update on the status of the auction (time remaining, amount sold, current price, etc.).


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When clicking on the View price graph icon you are able to view the current price, auction starting and reserve price.


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Step 2:  Submitting a Bid

Once you enter the bid flow you will be prompted to enter two fields:

  1. Bid amount in USD

  2. Bid currency (ETH, Dai, USDC)

Once these fields are entered you will see a receipt on the right-hand side of the screen outlining your anticipated bid results. After consenting to required terms of sale, important token details, and Wyre’s user agreement, you are ready to continue.


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Step 3:  Confirming Your Sending Wallet

Once you continue through the bid flow you will be prompted to select a payment wallet. You will be permitted to use a MetaMask, Portis, or Ledger Wallet. We recommend you use the same wallet that you connected for claiming your SKALE tokens for the sake of simplicity and speed.

Please Note:  Attempts to purchase tokens through a wallet other than that specified in the payment flow will be rejected.


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Step 4: Send the Transaction

Once you continue through the bid flow you will be prompted to confirm the transaction. Once the transaction is complete you will see a completion screen with your final receipt. Remember that since this is a Dutch Auction your receipt will be quoted based on the price you transacted, not the final price of the auction. This is why it says, “You will receive at least” for the amount of SKL. 


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Step 5:  Placing Multiple Bids

If you would like to make another bid, please navigate back to the dashboard where you will be able to place another bid.

Conclusion

Thank you everyone for participating in this historic event with us. Stay tuned for our next piece of content which will highlight the Activate Staking Marketplace and the final list of validators that will be participating in the SKALE Network Launch.

Happy Bidding Everyone!