Guide: Participating in the KSM Starter IDO
With KSM Starter’s launch just over 24 hours away, with scheduled launch on October 7th, it is now time to provide a sufficient guide to our community on how to use KSM Starter — the primary launchpad on Kusama. It is highly important for our community to understand that the KSM Starter Token ($KST) IDO will be available exclusively on our official website (www.ksmstarter.com) and will be available for only whitelisted participants. Non-whitelisted participants will have the opportunity to purchase their $KST with no limits upon DEX listing.
The KSM Starter Token ($KST) IDO will begin on October 7, at 12:00 (noon) GMT and end on October 7, at 14:00 (2PM) GMT. However, whitelisted participants can approve the contract slightly before the IDO officially begins to be better prepared.
Word to the wise, the KSM Starter initiatory IDO will be in high demand; the team recommends being well prepared, and ready to use the platform. Please check out the five step run-through below on how the KSM Starter IDO process will proceed.
1. Connect:
Through the Ethereum network, connect your whitelisted browser based wallet to the official website. The official website for the KSM Starter Token ($KST) IDO can only be reached via connecting through the official KSM Starter website (https://app.ksmstarter.com/ido).
2. Approve:
Advance to the pools tab, where you can view the KSM Starter IDO pool, and all relevant information such as registration date, raise progress, raise cap, and other pertinent information.
Before the KST IDO begins, you should approve the contract. You can approve before the actual sale begins, and the team highly recommends this so that you can be better prepared.
You can approve by clicking on “Approve” and confirming the transaction prompted afterwards.
Once this is completed, you are ready for the IDO!
3. Participate:
Once the IDO begins, you will witness the “Buy” button be enabled. You can participate in the IDO by:
- Clicking the “Buy” button.
- Inputting the size of your allocation or clicking the “Max” button.
- Confirming via the “Swap” button and signing the transaction in your wallet.
The KST IDO will be conducted in USDC currency.
And that’s it! Congratulations! In completing these steps, you will have officially participated in the KSM Starter’s $KST IDO! Now all that’s left is to claim your tokens once the claiming phrase begins. Until then, you will see the claimable amount on the tab labeled “Your contribution”.
4. Claim:
After the IDO has been completed, you must wait until the claiming phase begins. Once the claiming phase has started, you can click on the “Claim” button and confirm the transaction in your wallet.
As per the $KST tokenomics, on launch day, you will be able to claim 20% of your tokens, and the rest according to the vesting schedule. More information on how to claim vested tokens will be released closer to the first release date.
With your tokens in hand, you’re officially a part of the community! Welcome to KSM Starter — your gateway to innovation on Kusama. We look forward to kick starting innovation with you!
About KSM Starter
KSM Starter, the primary launchpad on Kusama, is built to provide early-stage support and public funding for projects building on Substrate. KSM Starter’s incubator modeled launchpad is driven by the community and shared values of fairness, transparency, and decentralized organization. Unique to the KST ecosystem, community members are incentivized to participate in the pre IDO selection process through higher allocation rewards. Also unique to KSM Starter, collaboration is fostered among launched projects by incentivizing community members to support previous launches by awarding them with improved lottery odds. This along with the KST Ecosystem Council generates a synergistic network effect that empowers all projects to succeed and leave a lasting impact on Kusama.
KSM Starter is set to offer its native KSM Starter Token (KST) to the public in the form of IDO (Initial DEX Offering) on October 7, 2021. Stay tuned to the official twitter and telegram to remain updated on important announcements.
Website | Twitter | Telegram Community | Telegram Announcement
