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

Updated: Nov 11, 2021


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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:



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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.


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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! 🥂


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