ACALA Crowdloan: Easy Step-by-Step guide on how to contribute to Parachain Auction
Updated: Dec 7, 2021
Hello, friends! This is James Agenda here.
Today I'm detailing a Step-by-Step guide to contribute and boost your rewards on ACALA's Crowdloan.
Click here or in any step below:
Acala is my bet for winning the first Parachain Auction, and I'll contribute about 50% of my Crowdloan funds to it.
You can check more about my strategy on Crowdloans on my post about it.
If you want to save some time, you may navigate through the underlined topics.
Why Acala is my biggest best bet for Parachains Auction on Polkadot
First of all, I would like to say that we have no partnership with Acala.
I studied all the Parachain Candidates even before Parachain
Slot Auctions started on Kusama, last semester.
And here are the main reasons why I'm so bullish on Acala:
Last year, I saw DeFi being born in Ethereum and Uniswap.
I was amazed!
IMHO, DeFi is the most trivial application for crypto, and it will disrupt the traditional financial system.
And I'm not talking only about cryptocurrencies.
Traditional assets like Gold, Stocks and Real State are being tokenized, and in the future, most of the transactions will occur on blockchains.
Since Acala is "THE" DeFi for Polkadot Ecosystem, for me it's a clear bet for the long term.
Karura is a project from the same team as ACALA, but implemented on Kusama (Polkadot's canary network).
Last semester, I betted that Karura (Kusama's DeFi), would win the first Auction.
And, oh boy, I was right!
They indeed won the first parachain Auction on Kusama, and with a HUGE difference!
I expect the same will occur to Acala on Polkadot's Parachain Auctions.
Best way to contribute to Acala's Crowdloan
There are many ways to contribute to Crowdloan.
This is a Step-by-Step guide on participating via Project's website, which will give the higher rewards + bonus.
Also, there were more rewards for those who contributed in the first days on Karura, so the same could happen on Acala.
✅ Preparing your Polkadot.JS Extension
If you don't have a Polkadot.JS extension, take a look at my post dealing it Step-by-Step.
If you already have DOT ready on your Polkadot.Js extension, go to the next step.
✅ Step-by-Step: Using Acala's Website
1) Access Acala's website using this link.
2) Click on Contribute Now
3) Click on Contribute Directly (This is the safest way!)
4) Scroll down (you can leave those three boxes unchecked) and click on Connect Polkadot.js Extension
5) Select your address and click on the Confirm button. Check the 2 boxes and then click on Accept & Sign.
6) Sign the message in the extension (don't worry, it won't use your funds yet)
7) Set the amount of DOT you want to Contribute
Check if you are using our referral code, so you receive 5% bonus: 0x9633dd1e264abae165044ec372f25101099fe3a925e12fc0690a8955d6fbe001
Insert your e-mail and click on Submit my Contribution
8) Finally, Sign the Crowdloan function
You participated in the first Crowdloan for Parachain Auction on Polkadot!
And thank you!
When using our referral code, you're helping our blog since we also receive 5% extra rewards.
We'll re-invest them into the holdpolkadot project, bringing future benefits for the followers.
If you have any questions, please just leave them in the comments that I'll answer for you.
Cheers and have a good Parachain Auction! 🥂