How to Get DIA Tokens
Participating in the DIA governance token distribution is easy, but requires a bit of preparation. This short guide will take you through the process and the most important infos.
Please read
Where will the distribution happen?
We will publish the order interface on Monday, August 03 at 3pm CET on a dedicated webpage. The link will be shared on the DIA token website, in the DIA Telegram community and the DIA announcements channel.
Accepted currencies
Only USDC will be accepted.
Prepare early
To access the distribution as early as possible, make sure that you set up your wallet and load your funds in advance.
As soon as the interface is live at 3pm CET, you will be able to deposit your funds in the interface and submit your order.
Don’t buy into scammers!
Sadly, this ecosystem is still the target of scammers. Be aware and cautious. We assure you that no DIA team member will ever message you first, ask you for your ETH address, let alone to do any transfers. Do not fall for this!
When in doubt, please reach out to one of the admins of our Telegram group before answering any inbound messages by profiles that claim to be of DIA team members.
Step-by-step guide
Note, that the interface to get DIA will be published on Monday August 3 at 3pm CET. It will be shared in all our channels.
1. Set up wallet
To buy DIA you will need an Ethereum Smart contract enabled wallet. We recommend using MetaMask, Trust Wallet, imToken or Gnosis safe.
Load sufficient USDC to your wallet, open the interface and connect your wallet.
2. Deposit funds in the interface
Open the ‘Balances’ tab and ‘Enable’ the coin you want to use. Confirm, if prompted. Then deposit your funds by clicking the blue ‘+’.
A pop up will appear that where you can enter the amount that you wish to deposit for the trade. Once it is done return to the “Trade” tab.
3. Place order
Enter the amount you wish to exchange for DIA into the ‘Sell’ field and the maximum average price you want to pay per token in the ‘Limit Price’ field.
The amount of DIA you will receive will be displayed. Click ‘Submit Limit Order’. The order will appear on the right and is executed when the price matches.
Example Order
- Satoshi wants to spend 100 USDC on DIA, but doesn’t want to purchase DIA at a higher average price than USDC 3.
- To execute his order, he selects USDC from the dropdown next to the ‘Sell’ field enters 100 in the ‘Sell’ field.
- He then enters ‘3’ into the ‘Limit Price’ field — this is the maximum average price of USDC he wants to pay per DIA.
- The ‘Receive at least’ field will show the minimum amount of DIA that Satoshi will receive if the order gets allocated.
- If this satisfies him, he clicks ‘Submit Limit Order’ and it will appear on the right pane of the interface in the ‘Open’ tab.
- When the next 5 minute interval is over, the solution for the transaction is calculated. This means that the algorithm decides which orders to process, optimising for maximum efficiency in token distribution.
- If the order gets accepted in the batch, it will be executed, meaning that DIA will be sent to the interface and funds will be sent to the bonding curve contract. The successful order will appear under the ‘Trades’ tab, from where Satoshi can send his DIA tokens to his wallet.
- Note, that the limit price is just the maximum price that Satoshi will pay. It may happen that a significantly lower price is paid if possible.
- Also note that orders may be partially filled. The remaining portion will be transferred to the next batch, unless cancelled.
Additional Questions
How long does a transaction take?
There are several factors impacting the time that a transaction takes in total.
- The amount of gas you post, only has an impact on the speed at which your order is placed into the current or next order batch.
- Once in the batch, gas fees are irrelevant as they are equal for all participants of one batch.
- Batches are filled and closed in 5 minutes intervals
- When the batch is filled, the solution is calculated which defines the allocation.
How to cancel an order?
Once an unfulfilled order is listed in the right pane, you will be able to click it and an option to cancel the order will appear. When you click the cancel option the order is deleted as soon as the transaction is completed on the Ethereum network. This means that it is dependent on the gas fee you post.
What happens after the transaction?
Once a the price matches and your order is allocated, you will receive your DIA in the interface. You will need to withdraw them to your wallet. Your order will be stored in your wallet, so even if you forget this step, you will be able to withdraw your DIA at a later stage, if you reconnect the wallet that you used for the transaction.
When is an order closed? How will I know whether it is still open?
On the right hand pane of the interface, you will see three tabs: ‘Open’, ‘Trades’ and ‘Closed’. Your open transactions will show in the ‘Open’ tab. Your completed orders will show in the ‘Trades’ tab and your cancelled order will show in the ‘Closed’ tab.
How many orders can I place?
You may place an unlimited amount of orders. Be aware that this costs gas every time.
Further reading
- About DIA and its mission
- About the DIA governance token
- About the bonding curve distribution
- Transparency report
This information is not investment advice. Please read the full disclaimer before investing.
