How to Participate in the OAK Network Crowdloan 🚀
The following document will provide information on how to contribute to the OAK Network Polkadot Crowdloan.
Before Participating in the Crowdloan
Our team at OAK Network with the support of some of our parachain partners are offering a variety of ways for DOT token holders to participate in the OAK Network crowdloan and earn rewards. The community can use our OAK Web App to contribute directly to our crowdloan through our website. Bifrost users who are familiar with liquid DOT and SALP:Derivatives will also be able to use the Bifrost platform to contribute to the crowdloan. Alternatively, users may also contribute to the OAK Network crowdloan on Parallel’s Crowdloan App. More information about ways to participate can be found here.
Our OAK Crowdloan Web App supports the majority of Polkadot ecosystem wallets including the Polkadot.js extension, Nova Wallet, Subwallet, and Talisman wallet.
Ledger wallets are not supported.
Anyone who plans to participate in the OAK Network Crowdloan via the OAK Web App and earn rewards will need to sign up and verify their email address. Simply enter your email address and check your inbox to verify.
Only one wallet may be registered per email address.
To contribute to the OAK crowdloan you will need to be holding unlocked DOT tokens. The minimum crowdloan contribution amount is 5 DOT, though you will also need to save enough funds to pay for fees and to cover the existential deposit of 1 DOT — so our team recommends having at least 6.10 DOT in your Polkadot wallet.
If you do not have any DOT tokens you can purchase DOT tokens directly on our site using a credit/debit card thanks to Gem. DOT tokens may also be acquired through most major exchanges.
Using Gem to purchase DOT
The process for purchasing DOT tokens directly through Gem is straight forward. Simply click the Buy DOT button on the OAK Network Crowdloan home page.
Gem accepts a variety of currencies including USD, EUR, GBP, AUD, and many others.
To use Gem you will be required to verify your identify and perform a KYC. For more information about Gem check out their website here. If you have any difficulties with the process we recommend reaching out to us at our community Discord where we can provide assistance and answer any queries.
Crowdloan Rewards
The OAK Network Polkadot Crowdloan comes with a range of rewards and community bonuses. All contributors will receive 75.5 OAK for each DOT contributed as a base reward. There are bonus rewards for referring your friends, bonuses for participating in our previous Turing crowdloan, and a variety of other bonuses available for members of our community. You can review a comprehensive breakdown of the rewards and the requirements to receive them on our web page linked below.
Crowdloan participants who contribute using Bifrost and Parallel will also have the opportunity to receive liquid derivatives and bonus rewards including $BNC and $PARA. More information can be found on the rewards web page.
Participating in the OAK Network Crowdloan
Firstly, make sure that you have your wallet extension installed and that it has connected to the correct account holding your DOT tokens. This account should contain at least 6.1 DOT.
If you are new to the Polkadot ecosystem and want to learn more about different wallets, you can check out this wallet beginner resource here.
Next visit the crowdloan site via the link below. Verify that you are at the correct URL to ensure your safety.
- Once at the website hit the Contribute Now button to begin your contribution.
- You will then be required to input your email address. If it is your first visit to the OAK Web App you will also need to verify your email address.
- Be sure to write down your referral code after submitting your email address.
- Verify your email address & hit confirm.
if you are having troubles finding your verification email be sure to check your spam and junk folders.
- You will also need to agree to the terms and service conditions.
Next up You Can Connect a wallet
- Your wallet extension will request authorization from the OAK Network Web App.
- Always confirm the address on the authorization request is correct & legitimate.
The following wallet browser extensions are supported.
- Polkadot.js
- Talisman Wallet
- Subwallet
The OAK Network Web App will load any Polkadot accounts that are set up through any of the supported wallet browser extensions. If your account is not loading correctly and are using the Polkadot.js wallet — make sure your account is connected to the “Polkadot relay chain” or “Allow use on any chain” options. Once this is ready, complete the following steps:
- Select the appropriate wallet
- Always verify that you are connected to the correct DOT contribution address. Rewards will be paid to the address that contributes DOT.
If you have created a new account/wallet for this crowdloan — make sure that you hold your private keys safely, you will require access to this account to receive your rewards.
- Sign the authorization and enter your password to continue completing your crowdloan contribution.
Understanding your Contribution and Rewards
Once your account and wallet has loaded you can review the standard crowdloan contribution page.
- Your DOT Balances can be seen in the top right corner next to your connected account.
- You can enter a referral code in the box provided. If you do not have a code we have a channel for sharing referral codes on our community Discord here.
You will need an OAK Crowdloan code — codes from our TUR crowdloan will not be valid.
- If you participated in our Turing Crowdloan on Kusama you will see your participation bonus underneath the auction opening bonus.
- Make sure the amount of DOT you want to contribute is accurate and then click the Confirm button.
- Your contribution may take around 15 seconds or more to be confirmed
- Your wallet information can be viewed in the top right corner.
Congratulations! 🎉 You have successfully contributed to the OAK Network Crowdloan.
- To find out more about your future crowdloan rewards click the Check Rewards button.
- This will open a new tab and send you to our Reward Calculator where you can review your total rewards including a breakdown of any bonuses including referrals.
The Check Your Rewards page will outline everything related to your OAK Network crowdloan contribution. This includes the total DOT you have locked and the rewards you will receive. The vesting schedule is also available here and a breakdown of your rewards including bonuses.
To keep yourself updated about the progress of the OAK Network we recommend following our team on Twitter and joining our community Discord. Thanks again for your support!
