Auction Swap Bidding Guide
GemHUB Auction Swap Bidding Guide
1. How to Join on Computer
1) Prepare the amount of a token for bid in Kaikas wallet.
Tokens for the GHUB Auction Swap are as follows.
- KLAY, BORA, WEMIX
How to set up Kaikas wallet
2) Visit the GemHUB Auction Swap Webpage, and Connect Kaikas wallet.
https://www.gemhub.net/
3) Select a token for bid.
※ If BORA or WEMIX is deposited to bid, a token is automatically swapped according to the price of KLAY at the time for bid, and accumulated to the amount of bids. In addition, you must have a small amount of KLAY(1 or less) to pay network fees.
4) Check the amount of a token that you own in wallet.
5) Input the amount of a token as much as you want to bid.
※ There is no minimum-maximum KLAY quantity or limits on the number of bids per wallet. However, if the total number of KLAY bids exceeds the hard cap, only the amount of KLAY bids for the hard cap achieved will be applied, and the remaining amount will be returned.
6) After clicking Deposit, Click Confirm on the window of transaction confirm. Then bid is completed.
2. How to Join on Mobile
1) Prepare the amount of a token for bid in Kaikas wallet.
Tokens for the GHUB Auction Swap are as follows.
- KLAY, BORA, WEMIX
2) Prepare seed phrase of Kaikas wallet. It is required to enter seed phrase to KMINT app mentioned below. Store your seed phrase of Kaikas securely, such as saving it in a memo pad.
3) In order to join the GHUB Auction Swap on mobile, it is necessary to install KMINT app.
KMINT is a mobile personal wallet app. As various mainnets are supported, many tokens can be managed at once. Also, there is a remarkable function that services provided only on web can be supported on app. Thus, this app is used for mobile version of the GHUB Auction Swap.
l Kaikas can especially be used on mobile in the situation that Kaikas doesn’t support mobile service by itself.
KMINT Install Link
4) Restore Kaikas wallet on KMINT app.
How to Restore Kaikas wallet on KMINT
: Run app after installing → Restore wallet → Enter Kaikas seed phrase
How to Check Token List on KMINT
: Wallet window → Token List + → Search BORA or WEMIX → Touch symbol → Add
5) Run GHUB Auction Swap Mini app, once restoring wallet and checking token are completed.
Mini app List → Auction Swap Mini app → Open
6) After connection to mini app, the page below occurs.
Mini app List → Auction Swap Mini app → Connect wallet
※ you must have a small amount of KLAY(1 or less) to pay network fees.
3. How to Claim GHUB after the end of Auction Swap
Based on the determined swap ratio, GHUB can be claimed in proportion to the number of KLAY bids from on April 6th at 09:00(GMT +9).
After connection wallet on the Auction Swap webpage or Mini app, GHUB can be basically obtained clicking the button ‘Claim’.
At this time, the amount of GHUB Auction Swap for each is distributed linearly over one month. In order to relieve sudden distribution of GHUB allocated to Auction Swap to the market at once, it is provided over one month.
A bidder can click the button Claim at any time to receive his/her own accmulated GHUB. Also, the whole amount of GHUB can be received by clicking the button one time after one month.
Moreover, the feature GHUB Claim is indefinitely open, so that GHUB can be claimed at any time after 30 days of the end of Auction Swap.
If the button Claim is clicked on the web page at the first time after Auction Swap termination, the amount accumulated until that day and the amount to be airdropped are emitted at once.
FAQ
Q1. What is the difference between Soft cap and Hard cap?
A1. Auction Swap is the event where a swap ratio between GHUB and KLAY is generated, while it plays a marketing role. The swap ratio is exactly determined, depending on how much KLAYs do people pay for 12,000,000 GHUB.
Based on the soft cap(1,440,000 KLAY) and the hard cap(4,320,000 KLAY), the swap ratio between GHUB and KLAY will be determined. If the total number of KLAY bids is the soft cap(1,440,000 KLAY) when the Auction Swap ends, 1 GHUB will be exchanged with 0.12 KLAY.
But if the total number of KLAY bids is the hard cap(4,320,000 KLAY), 1 GHUB will be exchanged with 0.36 KLAY.
The soft cap is minimum standard while the hard cap is maximum standard. The reason why the soft cap is minimum standard is because the auction swap will be canceled and all KLAY will be returned to the bidder if the total number of KLAY bids does not exceed the soft cap. The reason why the hard cap is maximum standard is because the event will end immediately if the hard cap is achieved, regardless of the remaining period of Auction Swap.
The swap ratio is not divided into the soft cap and the hard cap, but set in the way of increasing to the hard cap in proportion to the amount of KLAY received in the bid after the soft cap is achieved.
Q2. How much GHUB can be claimed?
A2. The number of GHUB that a participant in the Auction Swap is different, depending on a swap ratio set by a result of the Auction Swap and the number of KLAY bids.
For instance, if the total number of KLAY bids is the soft cap(1,440,000 KLAY) at the end of the auction, 1 GHUB will be worth 0.12 KLAY. Then if “A” bid 10 KLAY, “A” will claim about 83 GHUB.
However, if the total number of KLAY bids is the hard cap(4,320,000 KLAY), 1 GHUB will be worth 0.36 KLAY. Then if “B” bid 10 KLAY, “B” will claim about 28 GHUB.
Q3. Is there minimum-maximum KLAY quantity or limits on the number of bids?
A3. There is no minimum-maximum KLAY quantity or limits on the number of bids per wallet. However, if the total number of KLAY bids exceeds the hard cap, only the amount of KLAY bids for the hard cap achieved will be applied.
Q4. How will KLAY collected from the Auction Swap be used??
A4. KLAY secured from the Auction Swap will be used to create GHUB-KLAY pair pool in KLAYswap. Also, when tokens for each game are issued, KLAY pair pool will be generated if necessary. It will be able to be used as the amount of reward when creating GHUB single pool in the long term.
