Starting from today DAO Maker will be hosting numerous events on its new DAO Pad. We are proud to see growing interest in each company that we fundraise, and we do care about every participant that wants to understand how the platform works.
Therefore we are issuing universal guidelines describing every step of the participation process. Once learned, those guidelines can apply to every public sale on our platform.
We advise you to follow event timelines, allocation amounts, and the minimum amount of required DAO Power directly on our platform.
The registration process will usually run throughout 24 Hours, and the winners will be announced by email and on the platform within a few hours after the closure of registrations.
Additionally, we have created the knowledge base with Frequently Asked Questions that might be of big help for everyone — http://support.daomaker.com/support/home
Below we will be using an example of a dummy Project X, which is not a real project but is just there to present to you how the platform works without referencing any particular project.
Go to https://daomaker.com/ to log in or register to your account
2. Connect your wallet that you would like to participate with. You can choose from Metamask or Wallet Connect.
3. Pass your KYC check in order to register for any sale. You will need to complete your KYC before in order to be able to register for all our upcoming events. This has to be done once.
For KYC purposes we are checking with your government-issued valid ID and proof of residence.
Access this link to check how to pass KYC on our platform
Here you can find the full list of countries currently allowed for participation on DAO Pad. Residents of the countries that are not on the list will not be able to pass KYC.
There are 3 documents that can be used for ID verification — Passport, National ID Card, or Driving License. Certain citizens are not allowed to pass KYC with either ID or a Driving License. In this case, you would need to have a Passport for verification. Please check with the current list of allowed countries and the documents that have to be used by its residents in order to pass KYC
Once you’re done with KYC, you will be able to start pre-funding your account with USDC in order to participate in DAO Maker sales. Prefunding your account will allow you not to worry about missing out on the sale when the contribution process starts, because now, once the winners are chosen, your allocation amount in USDC is automatically deducted from the pre-funded account.
This happens at the exact time when winners are announced and no extra action is required from you. A fully automated process!
If you have won an allocation spot and 500 USDC was a project’s allocation amount, we will deduct this amount from your Pre Funded Deposit and transfer it automatically into the pool.
If you haven’t won, 500 USDC will stay on your pre-funded account and can be used for future events on the platform. From now on there will be no more gas wars or FCFS in DAO Maker’s events.
Please note that allocation amounts might differ from project to project. Always check the right allocation amount directly on the platform.
In order to pre-fund your account go to your Portfolio section
Add funds to your Pre-Funding Deposit. The maximum amount you can add is 2,500 USDC.
Check with the amount you need to allocate for each particular project sale on our main page. If the allocation amount is 500 USDC, you will need to have at least 500 USDC pre-funded in order to participate in this sale.
After checking with the personal allocation amount, go to your Portfolio and add funds to the Prefunding Deposit. Once you’re done, proceed with the next steps.
Staking is an essential part to perform before registering for the sale. The staking process is now complemented by the DAO Power, which allows you to decide how much you would want to stake for each particular SHO and that will put you to the specific tier with varying chances of winning the allocation.
Make sure to have DAO tokens on your wallet, if you don’t have any, here are the places where you can currently buy your DAO — https://learn.daomaker.com/buy
In order to Stake your DAO and get your DAO Power to proceed to DAO Vaults as usual and stake either DAO or LP DAO.
In order to participate in every Sale, you will need to stake at least 500 DAO in the vault. That will give you exactly 500 DAO Power. Some sales with higher amounts of personal allocations will require more DAO to be staked. While registering for the sale, you will always see what is the minimum amount of DAO to be staked. If you have not enough, you can always come back and stake more DAO.
Once you have staked your DAO you will see your DAO Power in your Portfolio section
In order to participate in SHO, you need to allocate your available DAO Power. The more DAO Power you allocate on the particular SHO, the higher your chance to win allocation (more DAO Power means higher lottery Tranche).
1 Staked DAO = 1 DAO Power. DAO LP tokens deposited in the Vault count as 3x in the DAO Power.
The current Tranche system is following:
Tranche 1: Spending 500–999 DAO Power
Tranche 2: Spending 1,000–1,999 DAO Power
Tranche 3: Spending 2,000–3,999 DAO Power
Tranche 4: Spending 4,000–9,999 DAO Power
Tranche 5: Spending 10,000+ DAO Power
Each Tranche will get a certain number of participants. Once the registrations for the event are closed, we will run a lottery in each tier, and participants in each Tranche will have a certain amount of chance to be picked. People in higher Tranches will get more chances to win the allocation.
The chances will be linearly adjusted and will depend on the final number of participants and available allocation spots.
Example: The sale has 150,000 USD total allocation, personal allocation is 500 USD and there are 300 available winning spots.
There are 3000 total participants and there were:
Tranche 1: Spending 500–999 DAO Power — 1400 People — 3.7% Chance — 52 People would win
Tranche 2: Spending 1,000–1,999 DAO Power — 900 People — 7.5% Chance — 68 People would win
Tranche 3: Spending 2,000–3,999 DAO Power — 400 People — 15% Chance — 60 People would win
Tranche 4: Spending 4,000–9,999 DAO Power — 200 people — 30% chance — 60 People would win
Tranche 5: Spending 10,000+ DAO Power — 100 people — 60% chance — 60 People would win
So the chance increase will be linear per tranche, however, the chances can be only calculated based on the final participant’s data. We would usually publish the chance amounts after the sale has been conducted.
The amount of DAO Power you have allocated for the Sale will be locked before the winners of the Sale are announced. If you have allocated a 500 of DAO Power and happened to be a winner, your DAO Power of the same amount will be deducted and be restored only in 15 Days. If you have not won the SHO allocation, the DAO Power will be returned to you at the end of the event and you will be able to use it onwards for the next SHOs.
You will be able to allocate the exact amount of DAO power during the registration process.
6. Registration and DAO Power allocation
Check with any live sale that is currently available on the platform. Here we use Project X just as an example — this is not a real company.
Click on research and participate and spend some time researching the project before investing in it.
Click on the participate button that will be available once registrations are open.
You will get to the checking page and be able to see if you comply with all steps before it will let you in for registration.
Make sure you’ve completed all the steps.
- You’re logged in
- Your wallet is connected to the platform
- You have completed KYC
- You have enough USDC pre-funded
- You have enough DAO Staked
- You have enough DAO Power
If you haven’t, you will be notified and then once all steps are completed you will be able to participate in the SHO.
Once your wallet scan is complete you can proceed to sign the Terms & Conditions (SAFT).
The last step will be to allocate the DAO Power towards the sale.
Once you are done, you will see the following screen confirming your participation
Now after the registration process will be closed and winners picked you will see the following screen in case you will win:
Your pre-funded deposit and locked deposit amount will be deducted automatically and you will get your project’s tokens at the TGE. Your spent DAO Power will be locked for 15 days until you can use it again, so we advise you to spend your DAO Power wisely in case you would like to participate in several events.
In case of loss, you will see the following screen and we will unlock your pre-funded deposit back to your pre-funded account. Your DAO Power will remain unspent, so you can use it for other sales.
In case of any questions do not hesitate to contact us in our chat or check in with our FAQ at http://support.daomaker.com/