Raiden Network Token Launch Instructions

Summary:

  • The token launch process is straightforward. There are no individual caps, bonus or discount periods.
  • Token launch participants intending to place bids above 2.5 ETH are required to go through this KYC process before participating in the token launch.
  • The token launch begins Wednesday, October 18th around 3pm UTC, the ONLY official token launch site is https://token.raiden.network/, beware of phishing sites.
  • Participating in the token launch works by simply sending ETH to the auction address.
  • The address is shown at the https://token.raiden.network/website after accepting the Terms and Conditions.
  • Recommended Ethereum transaction gas limit is 150,000 gas.
  • Generally, ERC-20 compliant wallets, which let you keep control over your private key should work. We have tested and successfully participated with the following wallets on the mainnet: Mist, MetaMask, MyEtherWallet, and Parity WebUI as well as the Foundation and the Gnosis multisig-wallets. We cannot, however, guarantee a similar successful result.
  • Do NOT send from an exchange, your ETH will be lost.
  • You will start receiving your tokens 7–10 days after the token launch has ended.

Warning: Beware of phishing attempts. The auction address will only be made available on the https://token.raiden.network/ website.

Before the token launch starts

KYC process

Determine if you intend to bid MORE than 2.5 ETH, and only if so, you are required to go through this KYC process in order to participate in the auction. There is NO need to do KYC for individuals or institutions sending amounts smaller than 2.5 ETH.

If you attempt to send more than 2.5 ETH without successfully completing the KYC process, your transaction will fail.

Terms and Conditions

Read the Terms and Conditions thoroughly in preparation of your participation. Proceed only to participate in the auction if you understand and agree with those terms.

When the token launch has started

The auction format should allow everyone to participate without having to rush while offering certainty about the maximum total value of all tokens at the time of the bid. Read this blogpost for more details about how the auction works. Please see general instructions on how to participate in the Raiden token launch.

General instructions

  • If you intend to bid more than 2.5 ETH you are required to have successfully completed the then required KYC process.
  • Make sure you understand the format of the auction, and wait until the point in time, at which you agree with the implied value of the token.
  • At this point in time, click on the Participate button and read and understand the Terms & Conditions, click accept, only if you agree with those terms.
  • The auction contract address is presented after accepting the Terms & Conditions. You can double check the address and verify the contract source code, by following the Verify on Etherscan” link, which is located below the contract address
  • Copy the contract address, and send your desired amount of ETH from your preferred ERC-20 compliant wallet to the contract address. Recommended Ethereum transaction gas limit is 150.000 gas
  • We have tested and successfully participated with the following wallets on the mainnet: Mist, MetaMask, MyEtherWallet, and Parity WebUI as well as the Foundation and the Gnosis multisig-wallets. We cannot, however, guarantee a similar successful result.

Warning: Only send ETH from ERC-20 compliant wallets which allow you to control your private key. Make sure to backup your private key. Do NOT send from an exchange, your ETH will be lost

After the token launch has finished

You will be able to access your acquired tokens 7–10 days after the token launch has ended.

The Raiden project is led by brainbot labs Est.

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