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

Updated: Nov 11, 2021


moonbeam crowdloan step guide tutorial how to polkadot parachain auction.jpg

Hello, friends! This is James Agenda here.


This post has a Step-by-Step guide to contribute to Moonbeam's Crowdloan.


Click here or in any step below:


Moonbeam is my second biggest bet for Parachain Auction, and I'll contribute 25% of my crowdloan funds to it.

You can check more about my strategy on Crowdloans on my post about it.


(This guide is still unfinished because some information will be available only tomorrow. Subscribe to don't miss it.)


TOPICS:

If you want to save some time, you may navigate through the underlined topics.



Why Moonbeam is second biggest best bet for Parachains Auction on Polkadot


First of all, I would like to say that we have no partnership with Moonbeam.


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 Moonbeam:



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

1) Ethereum


As I said in the post about my portfolio, Polkadot is not an Ethereum Killer.


It'll embrace Ethereum through a bridge, helping its development.



However, some dApps are just not properly working right now on Ethereum due to the high fees.


Moonbeam offers an alternative for them.


It'll be possible to run any dApp from Ethereum on Moonbeam since they are compatible.


This is similar to Binance Smart Chain (BSC), but in an environment where the security relies on Polkadot, not Binance.


Take a look at BSC's insanely growth in the past months:



I can clearly see Moonbeam getting a share of dApps as BSC did, due to Ethereum's high fees.




2) Moonriver


Moonriver (a project from the same team as Moonbeam) won the second Parachain Auction on Kusama, with a fair difference.


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

I expect that Moonbeam will win the second Polkadot's Parachain Auctions as Moonriver did.


For each KSM (~$400) contributed to Moonriver Crowdloan in June, users got rewards worth more than $5500 today.


That was a return of 1375%.


Completely crazy!


I don't expect Moonbeam's rewards to be absurdly great as Moonrivers were, but I do expect good rewards.



Best way to contribute to Moonbeam's Crowdloan


There are many ways to contribute to Crowdloan.


This is a Step-by-Step guide on participating via Moonbeam's website.


Step 1: 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 2: Using Moonbeam's Website


2.1 Acess Moonbeam's website using this link.


2.2 Click on Contribute Now



2.3 Click on Start



2.4 Click on Connect Polkadot.{js}



2.5 Check the website and then authorize by clicking at Yes, allow this application access.



2.6 Select the account you want to use for Crowdloan and then Click on Verify account



2.7 Sign the message


2.8 Chose the Amount to contribute and put your Ethereum Address at Moonbeam Address.


⚠️ Pay attention: use an Ethereum Address that you have the Seed, not an Exchange Address.


Then, click on Sign and send.




2.9 Check if the transaction is "crowdloan.contribute" at method, and if so, sign the transaction.



Bonus Rewards using Referal Code for Moonbeam


We expected a Referal Code as in Acala's Crowdloans, but Moonbeam's team did not implement it.


If you have any questions, please leave them in the comments that I'll answer for you.


Cheers and have an excellent Parachain Auction! 🥂



2,232 views21 comments

21 則留言


Akachai U.
Akachai U.
2021年12月24日

Hello,


I have contributed some Dots for moonbeam crowdloan. When will GLMR rewards being distributed? Since I was not so sure that I put the right address into it. Thank you.


Merry Christmas


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Chanokchai Chauychoo
Chanokchai Chauychoo
2021年11月21日

hello please explain after we contribution in moonbeam crowdload WHERE to check evident or dashboard of my contribution.

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James Agenda
James Agenda
2021年11月21日
回覆

Hello!


You can check on their site, but the best place to check is the Polkadot.js app. Go to Polkadot.js.or app > Network > Parachains > Crowdloan > My contributions.


(Your address must be added to the Polkadot.js wallet)


I'll post more details about it soon.

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R Mig
R Mig
2021年11月12日

Hi James, 2.9 Check if the transaction is "crowdloan.contribute" at method, and if so, sign the transaction. In my case it shows method: utility.batchAll(calls), is it correct too?

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James Agenda
James Agenda
2021年11月12日
回覆

You're welcome! 🥂Cheers and good luck for us!🍀

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Jeff Thomson
Jeff Thomson
2021年11月09日

James- thank you for all the work you have put into this! I really enjoy reading your articles and learning from you.

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James Agenda
James Agenda
2021年11月09日
回覆

Thank you for the feedback! I appreciate it!

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viprabhakar
2021年11月08日

Hi James,

When are you planning to update the section about "Step 2: Using Moonbeam Website". Thanks.

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James Agenda
James Agenda
2021年11月09日
回覆

Hello,


I was waiting for them to enable the referral for bonus to post all complete, but I think they will not give bonus rewards on Moonbeam.


Anyway, I think I'll finish it until Thursday, before the Auctions start.


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