How to participate in IDOs
This tutorial will guide you through the steps of participating in IDOs on LuaStarter from A to Z.
Step 1: Log into LuaStarter & activate your profile
Connect your wallet via “Metamask” or “WalletConnect”
Step 2: Qualify for a tier
This is an optional step. If you are not qualified for any tier, you may still be able to participate in the IDO, but your allocation can not be guaranteed as priority will be given to tier members.
Users need to hold LUA tokens in LuaSafe or LUA-TOMO(E) pool (on TomoChain or Ethereum) from at least 3 days before the IDO, to the IDO opening time to be qualified for a tier, and have a secured allocation.
The tier qualification process will ALWAYS take place on TomoChain and Ethereum regardless of the network of the IDO project.
Click on the IDO pool that you want to participate in.
You will find the instructions and your current tier at the bottom.
To find how much LUA you have that can be counted for tier qualification, click on “Portfolio” on the side menu.
For LUA added in LUA-TOMO(E) liquidity pool:
LUA equivalency for tier qualification = LUA in the liquidity pool x 2
For LUA staked in LuaSafe:
LUA equivalency for tier qualification = LUA staked in LuaSafe
The above would give you how much LUA you have. You can compare it against the tier requirements to find how much more you need to get into the next tier.
After the snapshot is done, you will be able to check the IDO opening time and details of the IDO project.
Step 3: Commit to buy IDO tokens
Once the IDO is open, you can find the IDO project in the opening pools. Switch your wallet network to the network of the IDO project.
We suggest using Metamask or wallets that generate the same address across different networks, as the address that you use for staking and buying has to be the same.
You can start to commit the accepted cryptocurrency to buy the IDO tokens before the indicated deadline. You can commit as many times as you like, and any amount between 0 and the maximum allocation, which is proportional to the minimum guaranteed allocation.
The amount exceeding your guaranteed allocation will be filled on a first-come, first-served basis.
Sign the transaction on your wallet.
Step 4: Claim the IDO tokens
When the IDO pool is open for claiming the IDO tokens, check how much you can claim and click on “Claim your reward”.
Sign the transaction on your wallet and you will receive your IDO tokens, and unspent committed tokens (if any).
Scroll down the page, click on “Add token” button to add the IDO token into your wallet so you can view and manage it.
Congratulations, you have successfully bought, claimed, and added the IDO tokens.