How to Participate in the GEL Token Sale
A step-by-step guide to buying $GEL tokens on Sorbet Finance during Gelato’s public token sale
In this guide, we will outline how to obtain Gelato tokens (GEL) during the official Public Token Sale.
Note:
- Only whitelisted participants will be able to participate.
- Due to the nature of the First Come First Serve (FCFS) sale mechanism, even if you are whitelisted, there is no guarantee that you will successfully buy GEL tokens during the launch.
- This post exists only to serve as a step-by-step guide for participating in Gelato’s upcoming token sale.
Important Information:
- The token sale will take place on Monday,
September 13th, 2021, at 18:00 CEST / 09:00 AM PDT(Check your local time here) - Venue: Only on Sorbet.Finance
- Accepted Payment: ETH
- Price: $0.2971 per GEL (The exact price per GEL token in ETH will be determined based on the ETH/USD closing price on September 12th, 2021 as published by CoinGecko)
What You Can Do Right Now To Prepare:
1. Visit Sorbet Finance to add the Gelato Token Sale to your Calendar
Please note that the Gelato Token Sale will be hosted in-house by Gelato only on https://www.sorbet.finance/#/token-sale and nowhere else 👇
⚠️ Please be wary of scammers or fake websites claiming to be selling or providing GEL tokens, as these will be fake.
IMPORTANT: Please make sure you double-check the URL of the website before doing anything. We recommend you bookmark it! The URL should be:
https://www.sorbet.finance/#/token-sale
This is where your journey starts:
2. Ensure you have sufficient ETH to participate
The only accepted payment that must be used to buy GEL is Ether (ETH), so please have sufficient ETH in your wallet in preparation for the token sale to pay for GEL + the Ethereum transaction fees (which can possibly be very high).
We recommend that you have at least $500 more ETH than you want to invest to pay for Ethereum transaction fees just in case the gas price will be high during the sale!
If you don’t have ETH presently, make sure you buy some NOW on Cryptocurrency Exchanges such as Coinbase, Kraken, or Binance.
Steps to take on the day of the Token Sale:
Step 1: Visit Sorbet Finance 30 min before the sale starts
URL: https://www.sorbet.finance/#/token-sale
On Sorbet Finance before the Token Sale starts, you will be presented with a countdown timer that shows the remaining time until the GEL Token Sale goes live.
The Whale Pool will be opened for trading first at 18:00 CEST, whereby all successfully whitelisted Whales will be able to participate. Two hours later at 20:00 CEST, the Dolphin Pool will then be opened. At that time, all whitelisted Dolphins will be able to participate as well.
Step 2: Connect your wallet
Connect your wallet by pressing “Connect Wallet” in the top right corner.
Select the Wallet which contains your address which you whitelisted with Gelato for the Token Sale. Make sure to connect the right one! This tutorial will assume you use MetaMask.
Once your Wallet is successfully connected, a shortened version of your address should be showing up in the top right corner of the screen. Please make sure that this address is the same address that got whitelisted for the Token Sale.
If you received an email (from tokensale@gelato.digital) that you got whitelisted for the Token Sale, but Sorbet shows that you are not, then you are probably logged in with the wrong account or wallet.
Step 3: Acquiring GEL
Once the countdown timer stops, you will be presented with a message displaying: “Gelato Token Sale is Live”.
Now, simply input the amount of ETH you are willing to spend to acquire GEL. The amount of GEL you will receive will be auto-calculated for you in the output field. If you want to obtain the maximum possible allocation, press on the blue “Max” below the ETH symbol.
If you’re sure that you want to acquire the displayed amount of GEL, then press “Buy GEL”.
Next, you will receive a prompt on your MetaMask or other preferred wallet asking you to confirm the transaction.
Here is where you will likely want to edit your gas prioritization fee to get your transaction confirmed as fast as possible. Otherwise, if your transaction takes too long to process it will likely fail and lessen your chance of acquiring tokens.
That is why before confirming your transaction, you can edit your transaction fee in the “Advanced Options” setting by clicking EDIT. The more you pay for the fee, the faster your transaction will go through.
Here you can increase your “Gas price” to increase the chance of your transaction being successful. Always set it to high.
If you want to even further increase your chances of getting your transaction confirmed as soon as possible, click on “Advanced Options” and manually set your “Max Fee” to more than what gets displayed to you (e.g. 25% more).
Now click save. You should be prompted again with this screen:
Click “confirm”. Your transaction is now sent to the network. Wait for at least 2 minutes for it to get confirmed.
If it does not confirm, you might have chosen a too low gas price and we would recommend that you try to speed it up with a higher gas price. You can do this pressing on the Activity Tab in your MetaMask wallet here:
Now click on “Speed Up”.
Repeat the process of choosing “high” as your transaction fee.
Click save and then “confirm”. This will now resubmit your transaction with a higher fee in order to get confirmed sooner.
If your transaction has been successfully Executed you will get a Congratulations field displayed which shows the amount of GEL you have acquired. If you were too late, then the pool is most likely already sold out.
Congratulations, you are now an owner of $GEL! 🎉
The difference between Whales and Dolphins:
🐳 Whales:
Start Time: September 13th, 2021, at 18:00 CEST / 09:00 AM PDTEnd Time: September 13th, 2021, at 20:00 CEST / 11:00 AM PDT
Whales will have two hours to purchase between $5,000.00 and $20,000.00 worth of GEL with ETH. The whale pool will close after two hours have passed.
Only $3,000,000.00 worth of GEL can be purchased in the whale pool. If the pool is sold out and you did not get in, you can still participate in the upcoming Dolphin Pool, however only with the amounts mentioned in the dolphin section below.
As a Whale, you will be informed that you will receive 30% of your tokens immediately and 70% will be unlocked and claimable by you after 6 months.
🐬 Dolphins:
Start Time: September 13th, 2021, at 20:00 CEST / 11:00 AM PDTEnd Time: September 15th, 2021, at 20:00 CEST / 11:00 AM PDT
If you are whitelisted as a dolphin, you have the chance to purchase GEL immediately after the whale pool closes.
Dolphins will have two days to purchase between $1,000.00 and $4,000.00 worth of GEL with ETH. We expect a high demand for this pool, so make sure you send your transaction right away and not wait too long!
Only $2,000,000.00 worth of GEL can be purchased in the dolphin pool plus any amount that was leftover by Whales. If the pool is sold out and you did not get in, you missed your chance.
As a Dolphin, you will receive 100% of your GEL tokens immediately.
To learn more about the utility behind the GEL token please check out the Gelato Network Whitepaper 👇
More about the GEL token:
https://medium.com/gelato-network/gel-token-sale-date-and-whitelist-opening-fc697c814662
Sign up to the Gelato Forum to signal your support through voting in upcoming Proposals as part of the Gelato Governance.
⚠️ Please be cautious ⚠️
❗️ There is NO information available regarding the $GEL smart contract address at this time. Beware of scammers and fake addresses.
❗️$GEL token will not be available until the public token on September 13 on Sorbet Finance.️
About Gelato Network
Gelato Network is web3’s automation network, enabling developers to automate a wide variety of arbitrary smart contract executions on and across all EVM-based compatible blockchains such as Ethereum. Examples of use cases developers have built on top of Gelato include Limit Orders on AMMs like Uniswap, automatic compounding of yield farming vaults, Aave liquidation protection, MakerDAO debt ceiling updates, automated liquidity management, and even the petting of Aavegotchis.
Our ultimate goal is to automate everything and by giving developers the reliable tools they need to do this, we can empower their users to get the most out of their web3 experience.
► Check out what we’ve been working on at 🍦 https://gelato.network/🍦
Connect with us:
Legal Note / Disclaimer
The party responsible for the GEL token sale will be Gelato Digital GmbH, Zug, Switzerland (“Gelato Digital GmbH”). No other entity or individual is liable to any person in relation to the GEL token sale. The expressions “we”, “us”, “our”, “Gelato”, and similar expressions above are to be construed accordingly.
The present communication is no offer to sell the GEL tokens, and any obligations of Gelato Digital GmbH in relation to the GEL token sale are subject to the acceptance by the participants of the token purchase terms and conditions with Gelato Digital GmbH. Accordingly, Gelato Digital GmbH denies any liability in relation to the present communication.
Participants in the token sale cannot rely on any of the above information and must assess on their own, as the case may be together with their advisers, whether they are willing and in a position to bear the significant risks associated with a purchase of tokens, including the GEL tokens.
Gelato Digital GmbH reserves the right to change the above terms and conditions (including the point in time of the GEL token sale and the number and price of the GEL tokens available) at any time without prior notice. Furthermore, Gelato Digital GmbH reserves also the right to terminate the process leading to the GEL token sale, respectively the GEL token sale at all at any time.
