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ACALA Crowdloan: Easy Step-by-Step guide on how to contribute to Parachain Auction

Updated: Dec 7, 2021


defi acala crowdloan step guide tutorial how to polkadot parachain auction.jpg

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.



TOPICS:


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:


defi acala crowdloan step guide tutorial how to polkadot parachain auction.jpg

1) DeFi


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.



2) Karura


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!


karura acala crowdloan step guide tutorial how to polkadot parachain auction.jpg

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


Congratulations!


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! 🥂



6,767 views15 comments

15 Comments


cheng3824
Nov 12, 2021

Thank you so much for the great guides! Can I just check what are the benefits of contributing through direct (option 1) apart from safety? There are no additional perks that come with this option right (aside from the 5% from referral code which applies to option 2 anyway)?

Like
James Agenda
James Agenda
Nov 12, 2021
Replying to

The only benefit of Contribute directly is being safe that all the contributed DOTs are coming back to your wallet after 2 years, despite Acala being honest or not.


If you trust Acala enough to give them all your DOT, then Contribute and Stay liquid is better because you have an extra option to sell/trade your liquid DOT early.


Both options give you 5% referral and 5% kickoff rewards.


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Geff Santos
Geff Santos
Nov 11, 2021

Muito top, ajudou bastante. Para quem precisar do código de referência para ganhar 5% de bônus na Acala:


0xa621b41c1a8feb6e157aa059eea5aeb5128a3d14e72a63659f7881fd1c08d878

Like

Adalrik L
Adalrik L
Nov 09, 2021

Take part in this project! and benefit from an additional 5% !


Follow the link ;)


https://acala.network/acala/join-acala/0xc871b4d5656fcf6df8ba13cbeb569562dec8176ce5735c2f8c1d249bb111554f


Like

Inlog Gedoe
Inlog Gedoe
Nov 08, 2021

This was my first experience in a crowdlown and I see what went wrong. When the crowdloan page first load it automatically selects Option2 vs the Option1 "contribute directly".

=> I did the same, if that would make you feel a bit better...

=> but at the end, if they win the auction, and we look back in 2 years time, there will not be any difference between the 2 options, or am I wrong?

Like
Inlog Gedoe
Inlog Gedoe
Nov 08, 2021
Replying to

Yes, that is what I understood; but probably it's ONLY better if you want some sort (a part of it as you will not get all your dots free) as liquidity for the next 2 years in "their" environment instead of "likely better" ;) But I do believe in it, and it's actually good they provide the option.

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acsnugs
Nov 06, 2021

Thanks so much for the tutorials! I participated in the acala crowdloan, but I can't see the contribution on the polkadot.js wallet crowdloan page, is there any other app that'll show your contribution?


the acala form says i've contributed and I see my extrinsic # on Subscan, etc...


I also contributed to litentry and it's showing up as it should...but I am not sure why acala isn't showing how much was contributed?


Thanks so much!

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James Agenda
James Agenda
Nov 08, 2021
Replying to

"My stomach is in knots, but I'm trying to tell myself it will be okay lol"


Don't worry, Acala is a solid project. A lot of people used the stay liquid option.


"How do I find out how to receive the IcDot?"


I think they will be automatically dropped on your wallet when Acala wins a parachain and becomes live.

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